Prom Costs are Through the Roof in 2015!

Becoming prom king and queen is not about having the most expensive suit or dress in the room but, more about the person inside them. However, based on recent surveys the costs are rising and it’s all about the money!


Hey Dodd Middle School! For you, being a Junior or a Senior is in the far off years to come, but have you ever thought about how much this one night costs schools, students and parents?

Let’s talk about the girls. This year a survey done by Visa found that an average prom dress alone would cost the family $324. This high price tag has gone up significantly since 2011, where they would spend near $100. Lets not forget hair and make-up! You may decide to go to a salon to get your hair, makeup, and nails done, or you might opt to do it yourself. Depending on the choices that you make the price could be anywhere from $30 to $275. It is typically the boys job to buy the flowers, but in reality most guys wear boutonniere’s which usually costs $10 to $20. However, it depends on the type of flowers that you chose to purchase.

Besides looking good there are many other aspects that make prom very expensive. One being the ticket. The going rate these days depending on the location, tends to be $20 to $250. If the prom is being held in a fancy hotel, ballroom etc. it may be more costly than if it is being held in your school gymnasium. Ticket prices usually include entry into the dance, dinner, and beverages, so make sure to find out beforehand so you don’t plan to do a big dinner first! Most proms however do not provide a full dinner before hand, so most students decide to eat out. Depending on the type of restaurant and where it is the meal could cost anywhere from $25 to $130 per person.

Next is getting there! Parents like to know that their child is safe to and home from the prom. So limousines are often rented, but this costs students a pretty penny as they are quite extravagant and expensive. The average cost for renting a limousine is 200 to 500 dollars. If this price exceeds your budget, don’t worry! A good solution is to split the cost with a group, and its more fun that way too!

Like the renting of a limo taking pictures is the part that parents enjoy most so they often hire a professional. When friends split the cost of a limo to the prom, they tend to go to one person’s home to take pictures, so the cost can again be split. Even though us Dodd kids aren’t going to prom for another 730 days (roughly) you can relate to how your parents get when you have a special event or a memorable moment. It’s sooooo important to them to have pictures to reminisce with. Prices for professional photos can range anywhere from $30 to $125. You may choose not to get formal photos and use your own camera, and  that’s cool too. Lastly, at some point during the evening most prom committees will hire a photographer to come take photographs of couples and or groups. You will probably receive a price list beforehand. They may be prepaid, or you may need to pay at the event, so don’t forget your money!

Overall prom is an expensive night out, but in my opinion it is worth all the fun you have dancing and laughing with your friends. It is also a great reason to get dressed up like the movie stars and to enjoy yourself!

~Megan

Banking Blunders Come Again

 

During this past week the public found out that J.P. Morgan and Chase lost a sum of 2 billion dollars due to trading. There has been an action-class lawsuit on the behalf of investors about misleading shareholders. The justice department initiated a criminal probe but many details are unclear so it’s hard to tell what laws were broken. Even if there were broken laws the bank would have two trillion dollars by their side making  the issue no worry. The details will come out when the investigation gets further along in the process of finding out what led to the company’s multi-million dollar mistake. It’s hard to tell anything because many won’t comment about this issue.

My question on this is how will they get this money back? It was said to be only a profit trade but who really believes two billion dollars was all for profit and not investors money at all?  I wonder if this will affect the future of the bank or the chief Jamie Dimon. A mistake this big should be taken more seriously by the  well known bank of JPMorgan and Chase. I think Chase truly invested on something very risky hoping to get high profits without caring if or how the investors would be affected by a loss or gain of income. There’s not much detail so the only thing the investors can do is watch to see what happens in this case.

~Dan DiLeo