How to Trim Spending on Senior Prom and Graduation

Tis the season -- for senior prom, graduation and open houses, that is. Parents, if you have a graduating senior or a student going to prom, be prepared: it's expensive. Here are ways to trim spending on prom dresses, tux, graduation supplies and open house. I've graduated three seniors and picked up some penny pinching tips.

Save money on class rings. Didn't buy a class ring for your senior? Don't feel guilty. Senior class rings are pricey and kids often either give them away or lose them. If your student doesn't want a class ring, don't push it. His life will alter in no way sans class ring. If he does want a senior class ring, skip the school class ring companies like Jostens. I bought all my seniors' class rings from Walmart. I did the math between Jostens and Walmart, and saved at least half to two-thirds of the cost for the equivalent ring. Don't be afraid to choose the less expensive metals. Vanadium recycled steel is eco-friendly and priced at $50 for a guy's class ring.

Save money on retail prom dresses. Prom dresses are an enormous drain on the budget, but they don't need to be. There are several retail stores that sell prom dresses less than $100 and many less than $50. Deb shops are located in most malls. We purchased our daughter's junior prom dress for $35 and shoes for $8. For her senior prom, we had almost given up finding what she wanted. I suggested JC Penney, which she pooh-poohed as an "old lady's store." In fact she found dozens of cute prom dresses priced between $60 to $80.

Save money on second-hand prom dresses. Check second-hand stores, consignment shoppes and bridal boutiques for great prom dress prices, too. Bridal shoppes often make deep price cuts on returns, gowns dyed the wrong shade and close-out styles. Ask to borrow from older friends. Prom dress styles don't change that much and don't get much use. Start a prom dress swap; borrow and trade from year to year as women do with Louis Vuitton handbags.

Save money on graduation announcements and open house invitations. With all the free printables available online, there is no reason to pay $25 for a few graduation announcements. Make your own invitations on your Microsoft Word project software and print at home or in bulk at Staples. Remember that you cannot legally use your child's senior picture if it was taken by someone else. The photographer owns the copyright. Take a candid shot and use that photo. Click here for free printable graduation announcements and invitations.

Save money on graduation cap and gown. We ordered our oldest son a cap and gown and our second son wore the same one (same school, same color). Graduating your first child or have opposite gender kids? Ask to borrow from a neighbor, friend or relative. Check local secondhand shops. Remember that you will need a sash and tassel, so watch for those. Ask a friend who is ordering cap and gown to buy two tassels and pay her for the second one.

Marilisa Kinney Sachteleben writes from 22-plus years parenting four children, 25-plus years teaching and homeschooling and a life-time of family financial wizardry. Marilisa writes about parenting issues for the Yahoo! Contributor Network.