Homecoming is one of the most anticipated events of the school year. From finding the perfect outfit to making plans with friends, the excitement can build quickly, and so can the costs. With a little creativity and planning, you can enjoy an unforgettable night while keeping spending in check.

Here are 10 helpful tips to enjoy homecoming while staying on budget.

1. Set a Spending Limit Before You Start

Before shopping for anything or committing to expensive extras, decide how much you're willing to spend overall. Creating a simple budget can help you prioritize what's most important and avoid last-minute purchases that stretch your wallet.

Pro Tips: 

• MSGCU members aged 16 to 23 can open an Achieve Student Debit Account for an easy way to manage your money and budget. This account provides access to Mobile Banking, 30,000 free ATMs nationwide, and additional benefits. Learn more and open an account here. 
• If your parents are an MSGCU member, talk to them about setting up Greenlight, the debit card and money app for families, for free*. When your Greenlight card is funded with MSGCU checking account, MSGCU will cover the cost of the plan. The debit card and money app make it easy for your parents to send you money quickly, set allowances and chores, and set savings goals; it’s a perfect side kick to your homecoming spending plan.

2. Explore Secondhand Options First

Once your budget is set and you know where your money is coming from, it’s time to start shopping! The perfect homecoming look doesn't have to come with a designer price tag. Check local thrift stores, consignment shops, or online resale marketplaces before buying your outfit brand new. Many dresses and suits have only been worn once and are available at a fraction of the original cost.

3. Borrow, Trade, or Rent

Consider borrowing a dress, suit, shoes, or accessories from a friend, cousin, or sibling. If borrowing isn't an option, renting formalwear can save you hundreds of dollars compared to purchasing something you'll only wear once. Or if you have an outfit from last year’s dance or another event, you can offer to trade it with someone who has the pieces you’re looking for.

4. Get Ready with Friends

Professional hair and makeup appointments can be expensive. Turn getting ready into part of the fun by helping each other with hairstyles and makeup. You can save money while making memories before the dance even starts.

5. Skip the Salon for Nails

Salon manicures can quickly eat into your budget. Try doing your own nails at home or using quality press-on nails. Many affordable options look just as polished in photos.

6. Buy Tickets in Advance

If your school offers early-bird pricing, take advantage of it. Purchasing tickets as soon as they become available can help you save money and avoid any last-minute stress.

7. Rethink the Pre-Dance Dinner

A fancy restaurant isn't required for a great homecoming experience. Consider a favorite local restaurant, hosting a potluck with friends, or enjoying a special home-cooked meal prepared by family. You'll spend less and still have a great time.

8. Skip Professional Photos

Instead of paying for professional pictures, ask a family member or friend to be your photographer for the evening. If someone has a good camera, even better. Choose a scenic spot nearby and you'll still have memorable photos to share without adding another cost to your homecoming budget.

9. Share Transportation Costs

If transportation is part of your plans, consider carpooling with friends. Splitting gas costs or coordinating rides with parents can be more affordable than arranging separate transportation or renting a limo.

10. Start Planning Early

The earlier you start planning for homecoming, the more opportunities you'll have to find deals, compare prices, and avoid paying extra for last-minute purchases. A little preparation can go a long way toward helping you enjoy the night without stressing about the cost.

Savings Tip: 

• If you're already thinking about prom, graduation, or other upcoming expenses, setting aside a little money each month in an MSGCU savings account can help make those costs more manageable when the big day arrives. Did you know that you can open separate accounts for different savings goals with an MSGCU You-Name-It Savings Account? Plus, you can even make saving money automatic. If you have a job, set up a portion of your paycheck to automatically transfer into the savings account you chose.

The best part of homecoming isn't how much you spend. It's the memories you make with the people around you. With a few savvy-saving strategies, you can enjoy a night to remember and practice budgeting skills that can benefit you long after the dance is over.

For more tips and personalized financial guidance, meet with on our financial counselors at any one of our 24 branch locations, give us a call, or chat online.

Category: Youth