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.

Like Us on Facebook for more stories from UPI.com  
Latest Headlines
Top Stories
Great white shark attacks underwater cage with diver inside
Homeless man insists thousands of dollars raised for him go to charity instead
Bubble wrap loses a little of its pop
Dolphin breaks woman's ankles after jumping into family boat
Cows filmed fleeing from police van, running farmer in Scotland