6 Scary Money Moves That Can Drain Your Wallet This Halloween
Written by
Cynthia Measom
Edited by
Rebekah Evans
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Halloween spending is up this year, according to a National Retail Federation survey. The average spend per person has reached $114.45, nearly $11 above last year. Candy is the most popular purchase, followed by decorations, costumes and greeting cards.
To keep costs from getting out of hand, take note of these frightful money decisions that can squeeze your wallet this Halloween.
Buying Halloween Candy Too Early
According to the most recent National Confectioners Association survey, most Americans plan to stock up for Halloween in October, but 25% said they’ll purchase chocolate and candy before then. Unfortunately, if you buy your Halloween candy stash too early, there’s a chance you (or someone else in your household) will dig into it and you’ll have to buy more.
Shopping for Halloween Decor as Soon as It Hits the Shelves
Some stores start putting out Halloween decor months before the big day, as reported by USA Today. And while it’s understandable that you might want to grab something amazing before it sells out, early-season prices are rarely a smart buy. If you wait until October, stores often mark down Halloween items in the weeks before Oct. 31 because they want to clear the shelves in preparation for Black Friday.
Buying Limited-Edition Halloween Items
Halloween decor or toys that are considered limited editions command higher prices even though the special packaging and hype often is no more than a marketing ploy. Before giving in to an impulse buy, thinking you’re going to miss out, consider whether you really need the item. After all, once Oct. 31 comes and goes, won’t you just pack it away until next year?
Buying Expensive Costumes
Again, Halloween is one day, so spending hundreds of dollars on a costume doesn’t make sense. Neither does thinking you’re going to save money by creating your own costume and going over budget in the process.
Not Setting a Party Budget
Failing to set a budget for your Halloween party is a recipe for a financial disaster. Not only can the guest list get out of hand, last-minute purchases like a few extra bags of candy, another yard decoration and themed tableware can add up fast. Instead, decide what you can budget for the party overall, categorize your expenses and allocate a maximum amount of money for each one. This strategy will also help you see how many people you can afford to invite.
Committing To Too Many Seasonal Events
Last but not least, committing to too many Halloween events can overwhelm your budget. Haunted house tickets can cost from $10 to over $100 each, according to HauntPay. Fall festivals also sometimes charge admission. Other seasonal events that cost money include touring wineries or breweries, pumpkin picking or apple picking. Additionally, it’s important to remember that it’s not only the cost of admission you have to budget for, it’s also what you might be tempted to buy while you’re there.
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