How much does Prom cost and who pays? A nice graphic and some interesting observations from a survey by VISA.

 

 

Here is a short summation of the findings from a VISA survey where this graphic came from (found HERE).

 

Spending on the annual high school ritual of the prom continues to outpace inflation and grew for

the second straight year, hitting an average of $1,139 per family in 2013, results from a new

survey released today by Visa Inc. show. That represents an increase of 5% from the $1,078 that

American families who have a teenager attending a prom spent on all aspects of the dance in

2012.

Visa’s prom survey also revealed some interesting regional and economic disparities. For the

second year in a row, the Northeast led the nation in spending, with the Midwest spending the

least. Regionally, the survey found:

Northeastern families will spend an average of $1,528;•

Southern families will spend an average of $1,203;•

Western families will spend an average of $1,079; and•

Midwestern families will spend an average of $722.

 

One troubling statistic is that parents surveyed who fell in the lower income brackets (less than

$50,000 a year) plan to spend more than the national average, $1,245, while parents who make

over $50,000 will spend an average of $1,129. Additionally, single parents plan to spend $1,563,

almost double the amount that married parents plan to spend at $770.

Travels of a bloody shirt. Which one would YOU buy???

This is from CNN and produced in light of the recent tragedy in a textile factory in Bangladesh.

It shows the cost to produce the same shirt in the USA vs Bangladesh.  The largest differential is in Labor Cost.

Hypothetical:  If both these shirts were in a store hanging next to each other and one was priced at $14.00 and the other at $4.00, which one would YOU buy?  Which one would MOST people buy?