Prom Season - Here we come, debt free!

Prom night – the one night that every teenage girl looks forward to throughout high school, finding the perfect dress, shoes, and taking millions of pictures during the night and capturing every memory made. But has anyone really put in perspective how much time and money girls put into their prom night? I took a step back after trying to find my own budget, and all I could think about was the cost. A few hundred there, a couple hundred over there, and a hundred or two over there and I’m already looking at spending at least $500 for this night. Obviously, the most important thing to any girl is the dress; us girls spend months discussing our dream dresses, spending hours searching online and picturing what we want our dress to look like. But when it really comes down to finding a dress, budget starts to become a major issue. I mean c’mon, we have university and college coming up, school trips, school events, and so much more that will have your(or if you’re lucky, your parents'!) wallet empty in a snap. I've gone ahead and put together a list of different ways girls can save up money in their prom piggy bank, because after all, who wants to be in debt and deal with all that stress after prom?

  

  1) What You Need vs. What You Don't

This is the first most general rule, make sure in the months leading up your prom day that you start keeping track of your money and deciding between purchasing items you want, and the items you need. This may seem like a little change that won't do any difference, but you’ll see a big difference when you start cutting back on purchasing that Bench shirt this month and those Guess jeans next month. Also start packing your lunch instead of buying from the school everyday, and try to cut back on going to Starbucks every morning, saving you not only some money but some calories too!

2) Find a job (or two!)

This may seem like an obvious tip, but for the ones that are unemployed, having a part time job really makes a big difference. Why make your parents pay for everything you want with a budget, when you could work a couple of hours a week and build your own prom fund? This way, you will not only be free of that guilty feeling, but you'll be able to expand your budget a lot more. Even for those girls with jobs, consider getting a small side job around the neighborhood shovelling snow, walking dogs, or fixing up gardens. Charge a small fee and advertise around your area-an easy way to make more moola for your big day!

 

3) Jarrin' it

Keep an eye out for those dimes, quarters, and nickels; although they don't seem like that much, they still can add up over the course of a few months. Get a jar and label it 'Prom Fund', and every time you have some spare change or an extra 5 dollar bill in your wallet, put it in your fund. Keep it somewhere where you won't be tempted to get money out of it or even ask your mom to keep a hold of it. Start a routine of putting away at least five dollars a week, it'll add up before you know it!

4) Spit up the Paycheck

Make it a habit to put aside 30% of your paycheck towards your prom fund. Put the money in a seperate savings account and make this a part of your routine.Using this tip will build your money savings skills that can be used later on in the future, and making this a habit is one of the best ways to manage your money. It'll leave you with more than half of your money to spend as you usually do, but making this cut back could widen your chances of getting your dream dress (and those sparkly heels you've been eyeing too).

5) Do Some Research

Just like with anything else, it's always important to do your research on what you're buying. Find average prices of dresses and make visits to dress stores to get an idea. Start planning your budget and goals ahead of time so you have a plan of how much you're saving and where it's going to. Find out the prices for things like getting your hair done, manicures and pedicures, accessories, makeup, limo, etc,. The better prepared and aware you are, the better your decisions are going to be.

This is a once in a life-time event and make it memorable without leaving you in debt - Happy Saving!

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