Survey: Prom spending increases to average more than $1K

CINCINNATI - While teenagers may be worried about their dates and outfits for prom, their parents should be worried about the impact on their wallets as average prom costs increase, according to a new survey.

Parents with teenage kids are expected to shell out an average of $1,078 for prom in 2012, according to a survey release by Visa Thursday. The average is up more than $200 from the $807 average in 2011.

Parents have celebrities to thank for the increased spending. The study says teens are influenced by "red carpet" trends that pack a powerful price tag.

When it comes to attire, the study concluded ladies spend an average of $231 on a dress, $26 on lingerie or hosiery, $45 on shoes and $23 on a handbag. Men, on the other hand, spend an average of $127 on a tuxedo and another $100 on accessories like a tie, shoes and cummerbund.

Other expenses for the ladies include an average of $35 for a manicure, $33 for makeup, $50 to get their hair done, $32 for jewelry and $10 for their date's boutonniere.

Men are averaging $20 for their date's corsage and an average of $75 if they pay for a dinner, which includes two main dishes and an appetizer or a salad.

Add a $100 bill for a limousine — which is split between a group of friends — and dance tickets at up to $50, and the grand total can break the bank.

Visa interviewed 1,000 households at the end of March to get the results.

To read a full USA Today story about the study and other expenses, go to http://www.usatoday.com/money/industries/retail/story/2012-04-12/high-school-prom-spending/54224068/1 .
 

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