Prom Spending Way Up – Sign of Improving Economy or Imprudence?
The uniquely American tradition of “Prom” is often used as an indicator of economic trends. This year spending is way up which could be a good sign that the long Recession is over. On the other hand, the spending seems almost ridiculous in light of the cost of higher education in this country. Is $1500 for one night of revelry really worth it? Or would young people be better off spending less and saving more for college as put forth by the Sally Greenberg of the National Consumers League? Read more about this trend in yesterday’s NY Post and give us your opinion… How does this bode for future spending by Millennials on the wedding market? Are “over-the-top” weddings next on the agenda for Millennials?