OMG! Proms are actually getting cheaper compared with the price of everything else

Prom season is now upon us, the key social event of most people’s high school experience. My youngest child is preparing to attend her first senior prom and a steady supply of fancy dresses has begun to appear in our house. As my credit card bills climbed ever higher, I began to wonder, how has the price of the prom changed over time? Continue reading

Is the Prom Getting Cheaper Over Time?

OMG, it’s prom season again!  This weekend was my daughter’s junior prom and before the big event a dozen teenagers and their parents were at my home for “pre-prom” pictures.  After the last couple left I did the natural thing for both parents and economists; I started totaling up the various bills for the event.  A strange thought crossed my mind.  Compared to my older children’s and my own experience, the total price tag for this year’s prom was high, but not as outrageous as in the past.  Could it be that proms are actually getting cheaper over time?

Continue reading