From tickets to dresses and tuxedos to shoes, hair appointments, a limo, and dinner, the costs of prom continue to rise.
A new study by Visa reveals that American families are paying an average of $1,139 per prom-goer in 2013, up from $1,078 in 2012. Costs for the big night vary widely by region. Those in the Midwest will pay an average of $722, families in the West will pay approximately $1,079, attendees in the Southern states will pay just over $1,200, and those in the Northeast will pay a whopping $1,528.
The survey also found that households earning less than $50,000 a year will spend over $100 more on prom than families whose income was higher. But an even more surprising contrast is between single parents and married ones: Single-parent households expect to lay out $1,563, nearly twice the $770 that married parents say they'll spend.
Take the first steps to building your portfolio.View Course »