Before saving for college, parents may need to start saving for senior prom.
The average spending for prom has increased to $1,139, according to a new survey by Visa.
Researchers polled more than 1,000 parents of prom age teens.
Factors leading to the increased cost for prom include:
Families in the northeast plan to spend the most money -- an average of $1,528. Southern families plan to spend about $1,200. Midwestern families are likely to spend the least on prom -- about $722.
To save on prom costs, Visa recommends shopping at consignment stores or online, having a friend with experience do makeup and having teens drive themselves to prom if possible.