Each spring, thousands of high school teens prepare for the biggest event of their high school career – prom. This tradition, which started back in the 1800s at Ivy League colleges, has become one of the most expensive outings for high school students and their parents to afford.
Prom has grown into an all out gala over the years. Once a traditional dance held on college campuses, proms today include extravagant venues, elaborate wardrobes, and over-the-top “after-prom” plans.
In 2013 alone, the average cost of prom was over $1,400. Come spring of 2014, the cost of prom is projected to total over $1,900. Most often, this comes as an expense to parents, though it has recently become a trend for students to help offset some of the costs associated with prom.
Also, another interesting trend is the fact that single parents and families with annual incomes under $50,000 spend more on prom. For a closer look at what is purchased for prom and who pays the bill, check out our Cost of Prom Infographic.