Please read my previous posts. I have never participated in the formal.
First off, he did not ask for our opinion or evaluation about the formal, he asked for 'good excuses.' We are not supposed to give our opinions or push him to attend the formal in the first place. That said, positive encouragement for him to go to the formal is great, but they are quite a few posts previously that made unnecessary attacks on his virility and integrity.
Secondly, I don't see the point in putting money aside, just like you have quoted from him, "money is also quite an issue," so the financial part does play a role and reason for him not to participate. His family may be financial troubled and thus he doesn't wish to place a greater financial burden on them.
Finally, I have never fostered or imposed any negative perceptions of formal on other people, like I have acknowledged, many people find it enjoyable to dress up in a suit and rendezvous. I did not in any way, attempt to reinforce his perception of formals as unappealing.
"There is more to lose in not going to a formal during your time in high school , than to go to a formal once. " In the end, that's only a matter of opinion. I have no regrets in not participating in any of those formals. "Clearly, if someone hasn't experienced something, they should experience it before labeling it." With all due respect, that strikes me as a very naive outlook on life, realistically, we don't have the time nor the effort to smell each and every individual roses of the universe. For example, I don't need to experience bungee jumping to know that it would be an unpleasant experience given that I am not comfortable with great heights. Ultimately, it is up to the individual to decide what to pass and what to pursue, and regrets are something that we must tolerate and overcome.