As thousands of UK teenagers prepare to celebrate the end of their GCSEs and A-Levels with a memorable school prom, many families are feeling the strain of rising living costs. A recent parent survey conducted by Nimbl, the leading pocket money card and app for 6 to 18-year-olds, revealed that half of the parents would be spending between £200 and £500 or more on prom tickets, outfits, makeovers, luxury cars, and photographers. Additionally, 3 in 4 parents did not set a budget, and 1 in 4 felt pressure to meet the escalating costs.
To help families navigate these expenses, Nimbl has launched its free “Prom on a Budget” guide, providing practical tips for making the most of this special occasion without breaking the bank. In fact, 1 in 4 parents managed to spend less than £200, with some spending as little as £50, without sacrificing the magic of prom.
Here are six top tips to help alleviate the financial strain:
1. Set a Budget
Whether you opt for a strict budget or something more flexible, it’s crucial to sit down with your teen to agree on the overall spending limit. Setting expectations early will help avoid misunderstandings and alleviate peer pressure.
2. Plan Early
Start planning 9 months to a year in advance. This allows you to take advantage of sales, enter competitions to win outfits or makeovers, and set up a prom fund that friends and family can contribute to for birthdays and holidays.
3. Thrift, Charity Purchases, and Rentals
One in five parents purchased prom outfits and accessories through online thrifting platforms or charity shops like Vinted, Oxfam, and Prom Ally. Cheryl, from Leeds, shared her experience: “My daughter wanted a £600 designer dress, but I found one for £200 and paid for it through a small payment plan.”
4. Something Old, Something Borrowed
Family and friends can be a valuable resource for unique accessories. Grandparents, aunts, and uncles may have items they’re willing to lend for the big day.
5. Enterprising Teens
Encourage your teen to be resourceful by selling pre-loved items or taking up small jobs such as washing cars or mowing lawns. Rebecca, from Market Rasen, shared: “My daughter makes her own jewellery and sells it at local markets and on The Teenage Market platform to help fund her prom.”
6. DIY or Skill Share
There are plenty of free online tutorials for hair, make-up, and accessory designs. Two-thirds of parents reported that their teens did their own hair and make-up or sought help from friends and family to cut costs.
Alana Parsons, Nimbl’s CEO, commented: “Prom marks the end of an era and the start of a new chapter. However, the associated costs are becoming a significant strain for many families. Our ‘Prom on a Budget’ guide offers additional tips and links to resources that reduce costs and help families make more sustainable choices. With our ‘fund feature’ on the Nimbl app, it’s easier for family and friends to contribute to a teen’s prom fund.”
