Ahhhh, prom, that fairy tale night of limos, glamour, dancing, buckets of fresh pig blood, and — a TON of cash.
According to the most recent data (compiled by Visa in 2015), the average prom attendee spends $919 on the likes of tickets, dresses and tuxes, haircuts, shoes, jewelry, makeup, manicures, corsages, tanning, transportation, dinner, and post-prom activities.
The tradition began more than a century ago as a simple “night of firsts,” and started to evolve into an elaborate affair in the 1950s, when American families found themselves flush with disposable income. Today, prom is a veritable money-pit.
The average middle-income family spends $234k raising a kid (0 to 17); at $919, prom represents about 0.4% of this entire 17-year cost.
These rising costs have drawn criticism that prom isn’t accessible to everyone. Though for many, it never has been: Until 2013, a handful of proms were still segregated — and in some states, gay couples have been banned from attending prom altogether.
