Katie Couric's Notebook: Prom

I'll never forget that night back in 1975.

I wore a long white eyelet dress and a white hat, and Ernie, my date, wore white tails and carried a walking stick.

I'm not sure what look we were trying to achieve, but I know we danced to "Stairway to Heaven."

Today it might be Lady Gaga or T-Pain bringing on the boogie, but the rite of passage known as prom remains the same.

This year, many students are cutting costs because of the recession. Some schools have made tuxedos optional, limo rentals are down, and in an online poll from Seventeen.com, 60 percent of teens say they'll spend less than $200 on the big night - total.

But it's not about how much you spend. It's about spending time with your friends, and making memories that are priceless.

And, I'll let you in on a secret. No matter what you wear to your prom 20 years from now, your children will make fun of it.

That, too, is a rite of passage.

That's a page from my notebook.