For high school students, prom season is a crowning event of the school year. But for teens and parents alike, it can also mean a major drain on the bank account.
Even a relatively frugal prom night is likely to cost more than $300, especially for girls, who typically spend more than boys. And adding luxuries could easily push the bill past $1,500.
With smart planning, students can save a few dollars, or at least get good value for the money they’ll spend.
The first step is for parents and promgoers to get together on a budget and figure out who’s paying for what, said Kate Wood, assistant editor of PromSpot.com, a sister to wedding site TheKnot.com.
One spending strategy is to borrow, instead of buy, everything you can from friends, relatives or older siblings. That goes double for things a girl might use only once, such as jewelry or a purse or shoes of an unusual color. For things you must buy, choose colors and styles you can wear again.
And promgoers should spend money only on parts of the prom they truly care about, not because everybody else is doing it, Wood said.
Consider the following tips, developed with help from the editors of PromSpot.com, for getting the most from your prom spending.
– Gown. Girls will be hard-pressed to find a new dress for less than $100, so shop around for the best combination of price and selection. One tactic is to choose a dress you like from a magazine or catalog and determine what you like about it, whether the color, design or fabric. Then look for that characteristic in a cheaper dress.
If you’re still a year away from the big dance, shop for a dress immediately after prom season, when stores want to get rid of inventory.
A less expensive option is to buy a secondhand dress from a consignment or thrift shop, or even an online auction such as eBay. Buying used and having the dress professionally cleaned will cost less than buying new.
– Tux. It’s true, guys have it easy. Tuxedo, shirt and shoes, complete with vest or cummerbund, are all rented. Still, it pays to shop around for the best rental deal and ask about what items are included.
“Don’t assume they’re throwing everything in,” Wood said. “Make sure you’re all set, down to cuff links.”
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– Wheels. Of course, one easy way to save big money is to skip the stretch limousine and the cost of four-hour minimums and tipping. Borrow a nice car from parents, neighbors or relatives. Naturally, you’ll have to convince them you’ll be responsible.
If you’re determined to rent a limo, consider types other than the stretch version, and share the ride with other couples to reduce the cost.
– Makeup, nails and hair. The cheapest way is to do it at home, possibly enlisting help from friends, sister or mom. That could save $150. This year’s popular hairstyles for girls are more natural-looking and easier to do yourself, Wood said.
Another option is to make an appointment at a local beauty school, which will charge less than a salon.
If you opt for professional treatment, look for discounts on pedicures and manicures at the same place, and ask about group discounts for coming in with friends.
– Flowers. These are usually wrist corsages for girls with two or three flowers. They can cost $10 to $75 or more. A boutonniere for the guy goes for $7 to $30. Coordinate with your date so you can make a good choice.
– Accessories. This is a prime area for borrowing, whether it’s jewelry, a handbag or dad’s gold watch.
– Pictures. Prom photos are generally a good idea, but don’t go overboard getting a huge package of shots. The cheapest package is usually plenty. Or skip it altogether and rely on digital photos.
– Dinner. Consider forgoing the pre-prom dinner at a swanky restaurant. Many promgoers now get together in groups at their favorite casual eatery. They get a kick out of being out of context, wearing formal wear to their usual hangout.
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Gregory Karp is a personal finance writer for The Morning Call, a Tribune Co. newspaper in Allentown, Pa. He can be reached at [email protected].