If your teen is going to prom for the first time this year, you may be surprised how much that one special night is costing parents.
According to a new study conducted by Visa, the average family is planning to spend $1,139 for prom in 2013, an increase of 5 percent from last year.
That total includes all aspects of prom, including the dress or tuxedo rental, hair, makeup, nails and transportation.
Families in the midwest plan to spend the least in the country, an average of $722. Northeastern families will spend the most, an average of $1,528. Southern families are expected to spend an average of $1,203, and Western families will spend an average of $1,079. The study also found that families making less than $50,000 per year plan to spend more than the national average.
Single parents plan to spend twice as much as married couples on their teen, according to the study.
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