Average Estimated Prom Budget Expected to Be the Highest Ever

Is your son or daughter going all-out for prom this year?  You might want to watch the wallet...

According to Visa, prom will cost about 5 percent more than last year.

The credit card company calculated the nationwide average cost of a big night out at $1,139, which is up from $1,078 last year.

The complete prom package includes dinner, limo rental plus the cost of a fancy dress or rented tuxedo.

Visa surveyed 3,000 families nationwide, of whom 1,025 had a teen who was penciled in for their prom this spring.

If I remember correctly, my prom cost me close to 300 dollars.

Granted, the year was 2001.  I also didn't rent a limo, instead I picked up my date on one sweet ride.   My 1990 Brown Buick Century, equipped with the ceiling fabric falling down, leaking transmission fluid, and one epic sound system.  I vividly remember  picking her up at her house, with MTV's 'Party To Go 1998' blaring through my speakers, and the look of sudden shock on her face.

She wasn't the least bit impressed, but for some reason, her mom defiantly was.

OK, probably not the best way to save money during prom season.  How are you going to save?