The Amount Teens Are Spending On Promposals in 2015 is Unbelievable!

Well, it's official: promposals are the best thing since sliced bread (and by sliced bread we mean a beautiful prom dress) when it comes to prom. A new nationwide study released by Visa Inc on March 31, 2015 shows just how popular promposals have gotten (by the way, if you want an 'official' definition of a 'promposal,' Visa describes it as: "elaborate invitations to the high school prom that can mirror a marriage promposal.").

Believe it or not, promposals are costing the average American household with teens $324 in 2015! Gone are the days of a simple note on the car of the person you plan on asking.

Visa Inc Promposals InfographicIn Visa's press release about their survey, they explain:

"Promposals have become significantly more extravagant in recent years and now represent in excess of one third of the $919 total that the average prom-going teen will spend on the dance in 2015....While total prom spending is down 6% this year from the $978 that parents and teens forked over in 2014, Visa added the category of promposal spending for the first time to the company's annual survey."

Just a few days ago, we had mentioned in a blog post how popular promposals have become this year. This survey certainly proves it! Visa notes that the average prom-going teen will spend $919 total in 2015; this means that just the prom proposal is one third the total cost for the average prom-goer this year.

While promposals are so much fun and definitely worth the time and effort to put into creating one, we have to agree with Visa's head of U.S. Financial Education, Nat Sillian, that spending $300+ on a promposal may be a little overboard.

Visa has the tools to help out, though! Visa offers a free Plan'it Prom App to help teens plan out their entire prom extravaganza on a budget. Visit PracticalMoneySkills.com/Prom for how to download the app for iOS and Android devices.

Here's the full infographic for Visa's Prom 2015 survey (hover mouse over for arrows to scroll through images):

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