Survey: Average U.S. prom budget nears $1,140

April 27, 2013 at 11:21 AM

NEW YORK, April 27 (UPI) -- Going all-out on prom night will cost U.S. high school students -- and their parents -- about 5 percent more than last year, a credit card company said.

Visa said it calculated the nationwide average cost of a big night out at $1,139, which is up from $1,078 last year, despite the economy's stubbornly slow growth.

"The thing that stuck out the most is that this trend is continuing to grow," Nat Sillin, head of Visa's US Financial Education, told ABCNews.com. "Prom affects so many families in the country, and every teen has an experience, whatever it could be."

The complete prom package includes dinner, limo rental plus the cost of a fancy dress or rented tuxedo.

Sillin noted the Visa poll found families surveyed with an annual income of less than $50,000 anticipated spending a bit more than parents making more than $50,000.

"Statistics worth investigating further are the difference in spending in different incomes," Sillin said.

Visa surveyed 3,000 families nationwide, of whom 1,025 had a teen who was penciled in for their prom this spring.

Related UPI Stories
Latest Headlines
Trending News
Bunny Ranch brothel to offer student debt relief
Chinese motorists trapped in 50-lane toll road traffic jam
Florida woman accidentally super glued her eye shut
Orphaned possum treats kangaroo doll as surrogate mother
Congressman mocks GOP with Craigslist ad for speaker