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Financial Literacy for Everyone

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Prom Spending

As Americans continue to find ways to cut personal expenses, one area where they are not willing to make financial sacrifices is prom spending. A new survey released by Visa shows that consumers will spend an average of $1,139 this year on prom, a 5% increase over last year. To help teens and parents combat ballooning prom costs, Visa has introduced Plan'it Prom, the definitive prom planning tool. Plan'it Prom empowers students and parents to plan, budget and cut costs by incorporating a prom count down, timeline, and budget health meter into a layout that is fun and easy to use.

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Plan'it Prom Available for iOS and Android

To help combat the high cost of prom, Visa's free app helps teens and parents budget for every prom-related expense.

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Prom Spending Press Release

Spending on the annual high school ritual of the prom continues to outpace inflation and grew for the second straight year, hitting an average of $1,139 per family in 2013.

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The survey results are based on 3,000 live telephone interviews conducted nationally from February 15-17, February 22-24 and March 1-3 in cooperation with GfK Roper OmniTel.