Price of prom on the rise

Price of prom on the rise
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Thursday, April 25, 2013 - 9:30am

Prom season is upon us, and that means big spending. A Visa survey finds on average, families expect to spend $1139 on prom this year. That's up about 40 percent from two years ago, but only a slight increase from last year.

Families in the northeast expect to pay the most, while midwestern families gave the most frugal estimate.Visa surveyed more than one-thousand parents of prom-aged teens for the study.

The survey also found parents will foot about 60 percent of the prom bill, while teens cover about 40 percent.

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