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How to have the ultimate prom on a budget

Whether you're going solo, with a date or with your best friends, your high school prom is a hallmark night of your high school experience. But while it's fun to get caught up in the excitement of "promposals," outfit decisions and anticipation of the night, it's easy to lose sight of all the costs—and they can add up quickly.

The costs of the prom range from one student to the next, but according to the most recent Visa study, the average "promposal" costs $324 and the average overall prom experience costs $919.

Want to have the night of your dreams without breaking the bank? No worries, we've got your back. These simple steps can help you create the perfect prom budget.

Step 1. List your prom expenses

You can start by simply listing all of your expenses so you have a good sense of how much your prom will cost from start to finish. These costs can include the cost of your dress or tux, your ride to the dance, dinner, after prom activities and other items.

Step 2. Narrow your list

Next, you can take a look at your list and make a few choices. Decide where you want to splurge and where you want to save.

Step 3. Stick to your budget

Once you've set your budget, try not to spend more than you've outlined. Even if your parents are helping you pay for your prom, they may appreciate the effort you are making to understand the expenses of the night and how you should spend in a responsible way.

Pro tip

For group costs, such as transportation and after prom plans, assign a friend to be the designated planner who collects money from everyone in the group and makes a single payment. It can be helpful to discuss the costs in advance, so that everyone is comfortable before you make any commitments.

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