CLEVELAND - It is prom season for high school students across the country. That means rented tuxes, new dresses, new hairdos, corsages, limos and the list goes on. But the bottom line for prom goers - expect to pay some big bucks for the evening out.
A new VISA survey finds on average, families expect to spend $1,139 on prom this year. That's just a slight increase from last year but a whopping 40 percent more from two years ago.
The survey found families in the northeast expect to pay the most while Midwestern families gave the most frugal estimate.
VISA surveyed more than 1,000 parents of prom-aged teens for the study. The study also found when it comes to footing the bill for prom, parents will pay about 60 percent while teens cover about 40 percent.