The social event of the year for high school students can quickly empty the wallets of students and their parents.
It's no coincidence the prom has been referred to as a mini-wedding.
A survey conducted by Visa shows that families will spend more than $1,000 for their child to go to prom this year.
Making up the cost footed by parents: the limo, dress, tuxedo, shoes, flowers and, don't forget hair, makeup, nails, spray tans and accessories.
Luxury designer dresses can cost up to $2,000.
"If you see something in store that you're just dying to have whether it's a pair of shoes, a clutch or the dress remember the name, write down the size, and then go home and check prices online. You can use price-grabber to compare prices, and also see if there's any online coupons," said consumer savings expert Andrea Woroch.
Tux rentals are averaging around $140. Try to negotiate a group rate.
"Maybe you can get all your guy friends together and try to negotiate a better rate if they're ten of you they'd probably be much more willing to knock down 20 percent off the price," said Woroch.
You'll need shoes and accessories to complete the look. An easy way to save on bling is to borrow. Suggest an accessory swap party for your teen.
Shoes are best purchased online.
"There are so many sites like shoes dot com or Zappos that they offer free return shipping so that if something doesn't fit you can send it back. Consider shopping at consignment stores. There are tons of consignment shops that have high end luxury fashion for a whole lot less than you would find at a department store. And likely it's only been used once or twice by the person who sold it to that consignment shop. And I've even found items that have the tags still on it. So it's brand new and you're looking at spending maybe 15 percent of what you would at the department store. You can even find dresses there," said Woroch.
Another way to save on the dress. consider renting one. A website called renttherunway.com is a service offering designer gowns for as low as $75.
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Thursday, May 23 2013 11:58 PM EDT2013-05-24 03:58:41 GMT
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The price of prom is skyrocketing.
