Monday, October 4, 2010

Enjoying Your Prom on a Budget

The emotional weight associated with prom night is difficult for an adult to appreciate. The price tag, however, is a totally different story. As a parent you want your child to enjoy themselves and maybe make a few precious memories, but you also want to avoid taking out a second mortgage to afford the evening. So what to do? Here are a few suggestions.

For many girls the largest expense ends up being the dress. Really, it makes no sense at all to spend several hundred dollars on gown you may never wear again. Cheaper options include consignment shops, borrowing from older relatives, or visiting a dress exchange.

Bridal shops are getting in on the celebration by renting dresses as well. Make sure to start looking early though, because you don’t want to have to settle for a dress just because it is the right size.

Life is easier for the boys, although not necessarily cheaper. The tuxedo rental industry is well established, but opting for a top of the line suit will cost you a pretty penny. Designer labels are snazzy, but an attractive, well fitting tux doesn’t have to be the newest or the most expensive. Pick something that looks good without worrying about who designed it, and return it on time to avoid penalties.

In my day the boy picked you up in dad’s car. If you were lucky he cleaned the car before he drove over. Today kids spring for stretch limos and decked out Hummers.

Before you shell out hundreds of dollars for your ride, get together with a bunch of friends and decide to go as a group. The evening’s rental may be $500, but when you split it between 10 kids, it is much more affordable.

The corsage and boutonnière should match, but that doesn’t mean they have to be expensive. Carnations are a traditional choice that still fit into a smaller budget.

Making a boutonniere is fairly simple, so designing your own at home is an easy way to save a bit of money. A corsage is more challenging, so this is one area the boys may end up having to spend more. If you don’t like carnations, pick something seasonal. And shop around too, as prices vary quite a bit between florists.

Although the idea of an after party will seem strange to many parents, it has become an integral part of many proms. Schools often arrange for an after party just to ensure that their students are somewhere safe when the prom is over. If your child’s school doesn’t do so, work with other parents to set one up. The expense of several families renting a small suite at a hotel or arranging a co-ed event at home is much more reasonable, and the peace of mind is invaluable.

As always, planning and creativity are the cornerstones of creating a memorable event, without spending a fortune you simply don’t have.

Like these tips? Grab your free copy of the How to Save Money on Everything ebook by subscribing to the newsletter where you will find many more tips that will save you real cash.

Tagged as: Money Tips, Saving Money

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