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Tips to Save Money On Prom Expenses

save money on prom

It’s prom season, and to your teen that probably means a fancy dress or tux, glamorous jewelry, dinner at an expensive restaurant, perhaps a limo and then there are the after-parties.  But to the parents, it probably means looking for ways to save money on prom expenses.

Prom is an exciting night that teens will remember, but that doesn’t mean mean parents need to drain their savings to help pay for that special memory.  There are always compromises that can be made to ensure it is affordable, but still make it a perfect night.

Tips to Save Money On Prom Expenses

  • Shop around for prom dresses:  You may find the perfect dress with a price tag you can’t afford in a boutique locally. Some dedicated online searching may help you track down the same dress online at a discount.  Shop around, consider consignment sales, and don’t be afraid to check out discount bridal stores, which often have prom dresses as well.
  • Consider renting a gown: There are options that allow you to rent a gown at a significantly lower cost than purchasing. Borrowing from a friend or family member may be an even better option.
  • Do some searching for the best deal on a tux:  Prices can vary widely, so do some research before committing to the closest shop.
  • Resist the temptation to splurge on accessories. Without a budget in mind, it’s easy to spend another $100+ on shoes, jewelry, and a purse that probably won’t be worn again.
  • Save on hair and makeup: Instead of spending hundreds on a pricey salon visit, is there someone in your life that is skilled in this area that can help at a reduced cost? Are there simple tutorials online that can help you achieve the look you want without a stylist? Is there a beauty school in your area that offers services at reduced rates? Get creative and you can save significantly!
  • Just say no to a limo: It might seem like a necessity to your child, especially if all his or her friends are planning to do it, but a limo is a luxury, and it’s certainly not necessary.  If your child really wants to ride in style to prom, suggest that they organize a big group to share one limo, that way it reduces the cost per person, and it’s certainly reasonable to ask your teen to save up and pay for this luxury with his or her own money.
  • Scale down on dinner: Dinner at a fancy restaurant might be exciting, but it’s not the main event, and will quickly be forgotten.  Suggest a restaurant with moderate prices as an option. No matter where they eat, the experience will be memorable!
  • Only pay what you are able: There’s nothing wrong with splitting some of the costs with your child. Perhaps you could agree to pay for the dress and accessories if your daughter pays for dinner and transportation. Or, you could give a budget that you find reasonable and ask your child to fund the rest. Find the arrangement that works for your family.

It’s possible to save money on prom expenses. With a little bit of planning and creativity, your teen can make memories that last a lifetime without straining the budget.

The CESI Team is committed to helping you reach your financial goals. If debt keeps you from living the life you dream of, contact us for a free debt analysis today and get started on the road to a brighter future!

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