Money Suck of the Year

  So prom is approaching and adults heads are spinning trying to understand why us teens are blowing so much hard earned moola on one stinking night. 

  As much as I love getting all dressed up and having a hoot with my pals, it pains me to fork over hundreds of dollars knowing that when the clock strikes midnight I go back to my average everyday self.  But I’ve been looking at some stats and they have my head reeling as well.

According to CNN Money “On average, families expect to spend $1,139 on prom this year — up roughly 40% from 2011’s $807 average and a slight increase from last year, according to a Visa survey”.  Umm excuse me?! No thanks.

  The article goes on to explain why this increase in spending has occurred saying how “With traditions like debutante balls falling out of fashion and young people getting married later in life, prom has grown in importance and people are willing to spend more on the big night, said Kit Yarrow, a consumer research psychologist.” I agree with this because I personally have been referring to prom as pre-wedding to adults that question why prom dress shopping is so important. But the strongest point made in this article was that The increase in prom spending is also being driven by the popularity of photo-oriented sites like Facebook and Instagram, she said. “Prom is ‘a post-able moment’ which has heightened the pressure around appearances.”

  No matter what the reason is for prom being such a money suck, it is undeniable that the average north American teen will be forking out lots of dough for this glitzy evening. 

    My goal is to 1) not break the bank and 2) end high school on a glam note.  In my opinion prom is supposed to be a nice way to close the high school chapter in your life, not make you broke for the next one.

 

For more on this here’s the original article http://money.cnn.com/2013/04/25/pf/prom-spending/

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2 thoughts on “Money Suck of the Year

  1. I’m really glad I’m a guy… I really couldn’t imagine spending that much money on prom. A lot of people just cannot afford to pay that. My mom volunteers for a charity for girls who fall into that category. If you know anybody who needs help getting their prom stuff tell them to check out the KW Princess Project.

  2. This is so true. Some people are going crazy about prom in every single way. The costs just keep adding up with the limo’s, tickets, hair, makeup, nails and most importantly dresses. I personally will not be getting my hair done, my makeup done, or my nails done. I do not think that it is worth spending so much money on something you can easily do your self. Also, people probably will not be able to tell the difference if you get it done. I will however be letting my parents buy my dress, and be paying for my own limo (although I would be totally fine getting a ride in our van).

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