A recent survey conducted by Visa Canada concluded Canadians spend 26 percent less than Americans on prom. Here are some of their other conclusions:
- Canadian men are planning to watch their wallets as they will spend 42 per cent less than American men on their teenagers’ proms ($875 vs. $1,507).*
- Canadian women will spend slightly less than American women on the big event ($718 vs. $746).*
- Canadian parents who make an income of over $50,000 a year plan to spend 36 per cent less on their teens’ proms than American parents who fall in the same income bracket ($817 vs. $1,279).*
- More than half of Canadian parents (56 per cent) will cover nearly the full price of prom compared to one quarter of American parents.
The infographic below shares details about Canadian versus American prom spending:
To help teens and parents budget their prom spending, Visa Canada has launched version 2.0 of their free iOS app called Plan’it Prom, which allows for creating a realistic budget and the ability to track spending.
Of course, if you blow your prom budget, just put it on your Visa card, right? 😉
Click here to download Plan’it Prom—it’s free.