LONDON, June 7, 2024 /PRNewswire/ -- Across the UK thousands of teenagers will mark the end of their GCSEs and A' Levels with their much anticipated school prom. This year many families are feeling the squeeze with higher living costs.

Findings from a recent parent survey by nimbl, the leading pocket money card and app for 6 to 18 year olds, showed 1 in 2 parents will have spent from £200 to £500 plus to cover costs of prom tickets, outfits, make-overs, and luxury cars and photographers. 3 in 4 parents did not set a budget, whilst 1 in 4 felt the pressure to meet the surmounting costs.

The nimbl free guide "Prom on a Budget" gives some great tips to help you plan and economise for this coming-of-age milestone. You don't have to break the bank to create the magic of prom. 1 in 4 parents surveyed spent less than £200, and some as little as £50 without taking the glitz and glamour away.

Here are six top tips and lessons learnt from the parents to help release some of the financial strain:

Set a budget: Whether you decide on a strict budget or something more flexible, it's important to sit down with your teen and agree a budget from the outset. This avoids misunderstandings, manages expectations and peer pressure.
Never too early to plan: Start planning 9 months to a year in advance. This way you can pick up a bargain at end of season prom sales, enter competitions to win an outfit or makeover, save monthly, and set up a prom fund so family/friends can top up on their birthday and at Christmas.
Thrift, charity purchases and rentals: 1 in 5 parents bought outfits and accessories through online thrifting sites and charities such as Vinted. Oxfam and Prom Ally. Cheryl, from Leeds, explained, "My daughter wanted a £600 designer dress. I managed to find one at £200 and paid for it via a small payment plan."
Something old, something borrowed: Family and friends are a fantastic resource to tap into. Grandparents, aunts and uncles may have accessories that are unique and precious which they could lend for the day.
Enterprising teens: Some teens sold their own pre-loved items, washed cars, cleaned windows and mowed lawns for people to help pay for prom. Rebecca, from Market Rasen explained: "My daughter makes her own jewellery which she sells in our local markets and on the free online platform, The Teenage Market to help fund her prom."
DIY or skills share: There are number of free online masterclass tutorials to get the look you want, embellish accessories for your own custom design or create your own corsage. 2 in 3 parents said their teens did their own make-up and hair, or asked friends or family for help.

Alana Parsons, nimbl, Chief Executive, said: "Prom marks the end of an era and the beginning of the next. However, the associated costs are increasingly becoming a strain for many families. Our guide "Prom on a Budget" gives more tips and links to resources that minimise costs and the impact on the environment. Our 'fund feature' on our pocket-money app makes it easy for family and friends to top-up the 'prom fund' when they wish."

Notes to Editor

nimbl surveyed 353 parents of children aged under 11 - 18 years old. Full release here.

About nimbl

nimbl is an award-winning pocket money card and app, designed with parents, carers and young people in mind.
https://www.nimbl.com/

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