Financial Friday: Ways to cut prom costs

HUNTSVILLE, Ala. (WAFF)- Dress, tuxedo, hair, makeup, accessories, limo, tickets...

These are all costs associated with getting ready for prom. It costs on average about $1,000 to get ready for this special day, according to Visa. That amount does not include the cost of “promposals” which can run as high as $300. A Promposal is when one person elaborately asks another to go to the prom with him or her.

There are ways parents can save money on their teenagers’ prom; while making sure they keep the ‘cool’ factor.

Patricia Lloyd with Redstone Federal Credit Union has a daughter herself so she knows firsthand how expensive it can be. She offers these tips to help you save.

Dress and Tux:

• the girl’s dress is usually the biggest ticket item.

Consider:

• Buy online and watch for sales
• Shop consignment shops for high-end dresses
• Rent – can save you hundreds

Accessories:

• Borrow from family and friends
• Make sure the shoes are as comfortable as they are pretty. You may want to spend the bulk of your accessory money here
• Vintage shops for handbags

Hair / Makeup / Nails:

• Consider a beauty school for hair, nails, and makeup. Students will perform the work at a fraction of the cost of a full-service salon. These are often gems just waiting to be discovered
• Makeup counter at larger department stores may offer makeup application if you buy the makeup from them
• Ask for a discount for getting multiple services

Transportation – limos are the ride of choice for the night:

• Checkout Groupon or other discount coupon sites
• Split the cost with other parents

Bottom Line: Give your child a budget that you can both can live with and stick to it. It’s the friends and the laughs that everyone will remember, not the dress and shoes!

For more ways to save be sure to tune in at noon every Friday for WAFF 48′s “Financial Friday” segment.

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