Wedding Industrial Complex, Minor League Dept. 0
Priorities:
And those in the lower income brackets, less than $50,000, plan to spend even more — $1,307 per child, the survey found. And those in the very lowest bracket, under $20,000, plan to spend $1,200 — more than 6 percent of their annual income.
But the most staggering number came from those families earning between $20,000 and $30,000, who plan to spend an average of $2,635, which would represent almost 9 percent of annual income for those making $30,000. Those families are just above the federal poverty level, which is $23,050 for a family of four.
Actually, I can understand the inverse relationship between income and prom spending.
The poorer families are likely reasoning, “We can’t give them much, but at least we can give them this.”
It may not make financial sense, but it makes emotional sense.