Prom Costs Dip a Bit in 2015
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Moodboard/Thinkstock(NEW YORK) — If you’ve had it up to here with the proliferation of “prom-posals” — those intricate prom invitations that often go viral — get used to it, because it’s prom season once again.
More importantly, especially if you’re a prom-goer or the parent or one, it’s time to figure out how to pay for the wardrobe and all the fixings associated with this annual rite of passage.
The good news: according to the 2015 Visa Prom Spending Survey, you won’t have to dig as deep into your pocket as last year.
The average overall spending for prom stuff in 2015 is $919, a relative bargain when you consider it was $978 last year.
Incidentally, the average cost of the prom-posal, which is figured into the overall cost, is $324.
But here’s the real shocker of the VISA survey: the less a household makes, the more money is spent on the prom.
Families with annual incomes of $50,000 or more plan to spend an average of $799. Families with annual incomes of between $25,000 and $50,000 plan to spend an average of $1,109, while families with annual incomes below $25,000 will spend an average of $1,393.
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