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Why the poor stay poor, Prom Episode
Posted on 4/1/15 at 9:05 pm
Posted on 4/1/15 at 9:05 pm
LINK (CNN Money)
Poor families plan to spend more than 5% of their income on prom this year, according to a new survey.
Families with a household income of less than $25,000 plan to spend $1,393 for the prom, according to Visa's annual nationwide survey on high school's most storied night. That's compared to those making more than $50,000, who plan to spend an average of $799.
Poor families plan to spend more than 5% of their income on prom this year, according to a new survey.
Families with a household income of less than $25,000 plan to spend $1,393 for the prom, according to Visa's annual nationwide survey on high school's most storied night. That's compared to those making more than $50,000, who plan to spend an average of $799.
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Posted on 4/1/15 at 9:06 pm to anc
When you've got nothing, you've got nothing to lose.
Posted on 4/1/15 at 9:08 pm to LSUballs
quote:
When you've got nothing, you've got nothing to lose.
so you're saying this is a thread about freedom?
Posted on 4/1/15 at 9:09 pm to anc
I spent $0 on prom
Posted on 4/1/15 at 9:09 pm to SlowFlowPro
No he's saying it's a thread about prom.
Posted on 4/1/15 at 9:10 pm to SlowFlowPro
Maybe. Why?
Posted on 4/1/15 at 9:12 pm to Brosef Stalin
I blame the parents for trying to make the kids feel "special". My parents said, "Mud, we cant afford that right now, we don't have the money". At the time I didn't realize that meant we don't have enough money to pay our mortgage.
Posted on 4/1/15 at 9:13 pm to LSUballs
My parents didn't spend near that much on my dress!
Eta:
Those people should google duct tape dresses.
They're way cheaper
Eta:
Those people should google duct tape dresses.
They're way cheaper
This post was edited on 4/1/15 at 9:20 pm
Posted on 4/1/15 at 9:14 pm to Mud_Till_May
I've noticed when poor people get their EITC back, instead of spending it on the things we consider basics to financial stability, they'll buy "luxury" items, mainly electronics.
Posted on 4/1/15 at 9:16 pm to anc
I think this is at the heart of "driving a fancy car while living with 10 relatives" thing.
Posted on 4/1/15 at 9:16 pm to LSUballs
What does that have to do with the OP?
Posted on 4/1/15 at 9:16 pm to LSUballs
quote:
When you've got nothing, you've got nothing to lose.
You're invisible now. You've got no secrets to conceal.
Posted on 4/1/15 at 9:18 pm to yurintroubl
quote:
Posted by yurintroubl
I think this is at the heart of "driving a fancy car while living with 10 relatives" thing.
It's more about having champagne taste on a beer budget.
Pretty much sums up the OT.
Posted on 4/1/15 at 9:18 pm to heypaul
quote:
My parents didn't spend near that much in my dress!
IIRC, I spent about $70 renting a tux, $10 on a corsage and $50 on dinner. My date got a dress from the woman who did dresses for Miss Alabama and paid about $200, which was on the high side in the mid-90s.
My wife, the high school teacher, has informed me that doesn't happen anymore.
Got to have a limo, dinner has to cost at least $100, and the girls have to have dresses that start at $500.
Posted on 4/1/15 at 9:19 pm to heypaul
Jr year pops gave me 75 bucks. That's dinner, pictures, 6er of Zima, Jolly Ranchers, whole 9 yards. We all get seated at Red Lobster by the mall, and she proceeds to order the menu. Or a good portion of it. Long story short we skipped the pictures. Good times.
Posted on 4/1/15 at 9:21 pm to yurintroubl
quote:
I think this is at the heart of "driving a fancy car while living with 10 relatives" thing.
It blows my mind when I see a $40k vehicle parked in front of a shotgun house. Different priorities I guess.
Posted on 4/1/15 at 9:22 pm to tgrbaitn08
quote:
It's more about having champagne taste on a beer budget.
Pretty much sums up the OT.
Lsu480 is walking into the Lambo dealership and picking one out soon. You have no idea what you're talking about.
Posted on 4/1/15 at 9:23 pm to anc
I can't fathom spending that much of even the 799.. I believe my expenses were.. 75 for tux rental, 75-100 for transportation, 50 for food and booze as we did dinner at a friends house with about 20 of us. After party was paid for by one of the parents at their house. So probably 250-300 at the absolute most
Posted on 4/1/15 at 9:24 pm to anc
quote:My daughter went to lots of dances in high school and never did any of that. Her most expensive dress was $200.
Got to have a limo, dinner has to cost at least $100, and the girls have to have dresses that start at $500.
Posted on 4/1/15 at 9:25 pm to anc
i never went to prom... i was too worried about disappointing all those girls i wouldn't have taken had i gone.... 
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