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Prom Is a Big-Bucks Proposition, That's for Sure

Admittedly, I have time before I have to think about prom in any real way - my oldest turns 9 this summer - but I read prom-related stories and stats with fascination. According to an annual survey by Visa, parents in the Northeast (where I live) can expect to shell out $1528 this year, down a bit (really!?!) from 2012. (To help keep tabs on expenses, Visa suggests its free budgeting app called Plan'it Prom, available at the iTunes store, Google Play and Overall, parents say they'll cover 59% of prom costs, with teens shouldering the burden for the rest. I'm curious as to what you think - is a 60/40 split about right? I feel like I have no frame of reference. Off the top of my head, a $1500 night out kind of blows my mind, no matter who's paying.

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