April 3, 2003

 

Prom Night: Just How Much Is It Worth?

Students spent as much as $875 on prom expenses in 2002, according to Debra Pankow, North Dakota State University family economics specialist. This figure is not indicative of the average prom night; however, it does provide valuable insight on just how far some students are willing to go.

Based on a survey of 105 boys and 150 girls who attended prom last year, the average total cost was $235.29 and $298.89, respectively. Although this is a far cry from $875, it is nevertheless a considerable amount of money that must be properly budgeted in order to prevent financial burden.

"Young men and women can learn a valuable financial life lesson by budgeting and planning for prom expenses," Pankow says. She offers the following tips to prevent overspending:

• Plan in advance.
• Be selective when choosing the prom activities in which you wish to participate.
• Have a meeting with your parents and date to decide on a reasonable spending limit.
• Discuss who is responsible for each expense.

Who was responsible for paying prom bills in 2002? According to the survey, if you were female, your parents were more likely to foot the bill than if you were male. Parents paid total costs for 28.4 percent of girls, whereas only 12.7 percent of boys shared the same luxury. Nearly half (46.1 percent) of the boys paid for expenses by themselves.

Expenses for females consisted primarily of clothes, appearance, flowers and extras at an average of $249.25, and for males, $172.09. Males did, however, pay more for actual prom costs (tickets, transportation, eating out) at $55.95 in comparison to females at $44.46. Likewise, post-prom expenses were slightly higher for males than females.

For more details about the NDSU Extension Prom Costs Survey, contact your local extension agent or Pankow at (701) 231-8593.

"Remember that prom is much more fun without the fear of overspending," Pankow says. So, before you empty your pockets this year, don’t forget to ask yourself just how much it’s worth!

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Source: Debra Pankow, (701) 231-8593, dpankow@ndsuext.nodak.edu
Writer: Teresa Oe, (701) 231-8371, teresa.oe@ndsu.nodak.edu
Editor: Rich Mattern, (701) 231-6136, richard.mattern@ndsu.nodak.edu