Author Topic: How much should you spend on your prom queen?  (Read 2100 times)

FrugalToque

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How much should you spend on your prom queen?
« on: May 01, 2012, 11:48:51 AM »
http://www.theglobeandmail.com/globe-investor/personal-finance/household-finances/how-much-should-you-spend-on-your-little-prom-queen/article2418276/

Where to even start with this one?

"For Grade 8 graduations, more families are dropping $450 for limos or $100 for professional photographers to immortalize the occasion."

"Spending $90 on a professional make-up artist might seem an excessive extra, but some parents approach it as a good investment, fearing that otherwise their tweens may plaster on eyeliner and lipstick trying to create their favourite celebrity look. "

Oh, yeah.  That investment will pay huge dividends over the years to come.

There's a whole lot of crazy Consumerism in that article and, to be fair, the writer does take a pretty negative tone.  But here's the clincher:

"The same poll found that families who make less than $50,000 a year plan to spend more than their wealthier counterparts."

Wealth doesn't always happen by accident, but it can be destroyed by repeated attempts to appear even wealthier.