Prom is around the corner and you want to teach your teen the value of a dollar as they keep coming to you for more money to cover prom expenses. You can have them plan prom expenses with the Plan’it Prom App by Visa.
My 16 year old will be attending her school prom next month, and the expenses are adding up: there is the dress well costume for her as there is an Alice in Wonderland theme to her prom and she wants to go as the White Hatter, the tickets, dinner, and the list has just begun. So how do we as parents get our teens on board with a budget? How do we teach them important financial literacy skills that they need now?
Well the stats show us Canadians do spend, not as much as our American counterparts but we do spend. The average household spends $804 for prom. I spent less on my wedding. What are we thinking?
The other bad news for the Canadian parent, it comes out of our pockets not that of our teens. So how can we teach our kids practical money skills that will help them in life. Visa has come with a way that actually is practical and helps.
With the Plan’it Prom App your teen can enter their budget, remember that thing called a budget and then set a rule if it’s not in the budget you can’t get it because it is so important that they get these critical skills. It makes them responsible.
With the app there are tips like where to buy a dress, how to cut transportation costs or even dinner tips. There is even a timeline that gives you reminders of what you should be doing when like ordering your dates corsage. There are also calculators that can help them figure things out. I gave it to my teen to use and she is finding that she can calculate out her expenses and know where she might have a few dollars left over.
If your teen is still out dress shopping one of the features my teen liked is the photo gallery, you can snap a picture and store it in the gallery. She also liked being able to see everything in one spot.
Have a teen headed to prom you may want to have them download this app. It is available in the iTunes store and the Google Play Store and from practicalmoneyskills.ca/prom.
Now Visa has been nice enough to give a $50 Prepaid Visa card to give to one of my readers and if you have a teen you might be able to use it for some of those prom expenses. Simply use the Rafflecopter below to enter and in the comments let me know what was your biggest prom expense and who paid for it?
a Rafflecopter giveaway
*Giveaway is open to Canadian residents only, and this post is sponsored by Visa Canada.I have received compensation but as always my opinions are my own.