4 Your Money

American families spending more than ever on their child's prom

CREATED Apr 25, 2013

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MILWAUKEE - Going to the prom is becoming pricey.

According to a new survey by Visa, the average family with a teenager will spend more than $1100 on the prom. That number is up six percent from 2012, and 41 percent from 2011.

Single parents spend almost twice as much as married parents, to make sure their teen has a great prom experience.