Parents Spending Average of $1,078 on Prom Night

Visa reported yesterday that teenagers going to the prom are not taking just their clothes to the cleaners; they’re taking their parents. The average cost of the night that teens regard as the night they’ll always remember: $1,078. Last year Visa reported the average cost as $807.

The lower end of the economic spectrum apparently values the one-night fling more highly than those in the median range; the report stated that parents who make between $20,000 and $29,999 a year will spend more than $2,600, while those who earn more than $75,00 a year plan to spend between $700 and $1,000.

There were also regional differences in the US. Northeastern families plan to spend an average of $1,944, Southern families: $1,047, Western families: $744, Midwestern families: $696. The Visa survey estimated that the high-schoolers are covering 39% of the cost, while parents are covering 61%.

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