3 Easy Steps to Saving Money for Prom!

Your teen is excited about prom, and has been waiting for this day for a long time. A time where memories will be shared, and the event will forever be treasured. In the scheme of all this planning, a budget should be necessary. After all, prom is not inexpensive. Here are a few things to go over with your teenager to plan out the expenses before it leaves you broke.

  • Advise them to speak with there date about Prom expenses- Make sure that your teenager and there date have all the expenses arranged. Budgeting for prom is a great way to save money. I'm sure the other party, would like to save money as well, not unless there parents have no problem covering for everything. If you're on a budget, splitting the expense in half can save you money, instead of having your teenager pay for the whole cost. Well. let me re phrase that, your teenager won't be coughing up the money, you will. So make sure you discuss with your teenager that they go over who will pay for:
  1. Prom Tickets- Either party can pay for the whole amount, or it can be a shared expense. They can pay for there own prom ticket.
  2. Flowers or accessories- Both parties purchase a corsage for the other.
  3. Attire- Both parties pay for there own attire.
  4. Limousine- A shared expense for the entire group using the limousine. Everyone can pitch in.
  5. After Prom Activities- Both parties can pay there own way.
  6. Prom Pictures- This can be a shared expense between the two of them. Or, they can make a compromise. Whoever, pays for the pictures, has to buy the other party for the after prom activities, such as dining cost.
  • Shop around!- You don't want your teenager to get anything they first see. Make sure you shop around for bargains and sales. Check the phone book for local cheap prom attire stores, surf the internet for sales, and most importantly don't be afraid to bargain with that cashier for a discount, for buying a tuxedo and a bow tie. Try to range out a cost, and spending limit of how much money you have available for your teenagers prom.
  • Don't give them an EXACT spending limit!- Try not to start this budget by telling them they have only such-and-such amount to spend. Your teenager cannot control how much things cost. Trying to stay within a certain amount at this stage of the process will cause stress in them and create a rift between the two of you. This is a point in your teenagers life where they need you the most, laying down the law, might cause distress and anger. Instead, emphasize sells to your teenager. Explain to them, everything is not low priced in this era, and the two of you will need to find ways to save money.


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