March 31, 2005

Holding the Line on Prom Costs

Parents and teenagers find that saving money on clothes, grooming, food and other incidentals during the prom season can be difficult, according to Debra Pankow, North Dakota State University Extension Service family economics specialist.

In 2004, males spent an average of $213 for all prom costs and females spent an average of $296. The amount spent is based on a survey by Pankow of 509 students (285 females and 224 males) who attended prom in 2004.

Prom spending by females decreased by more than $40, compared with Pankow’s 2003 survey. Males increased their spending by $3. The average cost to rent a tuxedo for the evening was $100, and females spent an average of $133 for a dress.

Parents paid all prom expenses for 22.9 percent of the males and 28.5 percent of the females.

“Many students paid their prom expenses using a combination of their own earnings and money given to them by their parents,” Pankow says. “In some cases, grandparents, sisters, brothers and others chipped in money.”

In one case, students saved money by having a barbecue with friends instead of dining out. Students also borrowed dresses, shopped for sales and car pooled. One young man bought his own tuxedo for $50 to save money.

Students also commented on other ways they found to save money:

• “I saved money by having my friend’s dad drive.”
• “I used my sister’s old dress and shoes. I also had older jewelry.”
• “I saved by doing my own hair and makeup.”
• “I bought a suit my freshman year so I can use it for four years.”
• “Borrow jewelry, don’t buy a bunch of new things, and utilize what you have.”
• “In the future, I’ll use my same shoes and jewelry, borrow a dress and cook at home.”
• “People are going to have memories of what you did, not if you had your nails done or not.”
• “I bought my dress out of season (September).”

Teenagers who are planning to attend prom can take steps to insure that they don’t spend more than they or their parents can afford:

• Plan ahead.
• Sit down with your parents and date and decide on a reasonable amount to spend.
• Decide in which prom activities you want to participate.
• Discuss overall costs and who pays.

Prom costs vary depending on where you live and how formal it is.
“Attending a prom doesn’t have to cost a fortune,” Pankow says. “With a budget, you can have the night of your life and enjoy yourself. Young adults can learn a valuable financial lesson by budgeting and planning for prom expenses.”

If you are interested in the 2004 NDSU Extension prom costs survey, contact your local Extension agent or contact Pankow at (701) 231-8593 or by e-mail at dpankow@ndsuext.nodak.edu.

###

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

BeefTalk

Prairie Fare

Plains Folk

Hortiscope

Market Advisor:

Crop

Livestock

North Dakota State University
NDSU Agriculture Communication
NDSU Extension Service
ND Agricultural Experiment Station