Do you love Halloween? I do. I think it’s a great cultural tradition and lots of fun. It’s especially fun seeing the littlest among us in their costumes. I really like that it’s a fun tradition for all of us regardless of most religious affiliations, political affiliation, and even ethnicity. Everyone who wants to participate can participate if they choose. Halloween is also becoming a major contributor to the GDP. For 2023, the National Retail Federation projects Americans will spend $10.6 billion - with a 'B' - on Halloween candy, decorations, and costumes this year. Personally, I think I might contribute more than my fair share. I usually add one or two new costumes to our household's growing collection, we also decorate when we're home, and we spend more per trick-or-treater than those who buy candy. Read on and I’ll explain.
I think the costume buying and decorating reaches all the way back to when I was a little kid. My mother and aunts always made sure my siblings and cousins could trick-or-treat and that we had a costume of some kind. At that time, they were usually homemade costumes put together with old clothes, rags, and random accessories as needed. It was a lot of fun! Our costumes had to be ready for snow as well. A few years we actually trick-or-treated in the snow. These days, as an adult, I still buy a costume or two and encourage others to participate as well.
Decorations were also fun. How many of us remember the reams of orange and black construction paper our teachers would have in October? We all made the obligatory jack-o-lanterns, black cats, and witch hats. When you’re in first or second grade that can be a lot of fun. I always looked forward to Halloween craft day at school. Spending on decorations has accelerated to much higher levels, and more complicated decorations.
Treating the little ghouls and goblins has also become more expensive. Years ago, Randy and I noticed we had lots of kids who got too much candy. We also noticed we had a large number of non-neighborhood kids showing up for trick-or-treat. We decided to give a meal instead of candy. Nothing fancy, but it costs us quite a bit more. We give out a box of mac & cheese and have become known as the mac & cheese house. This averages about $1 per kid since we buy the mac & cheese in bulk and we usually stop at around 150-160 kids. Are you thinking of upping your Halloween game? Well, here are a few tips.
- Buy early! Whether it's your candy, decorations, or costumes you'll want to buy early. I usually start in mid-to-late September. Don't wait until the week of Halloween because most items are gone; especially costumes in the size needed.
- Watch for coupons. Seriously, watch for coupons. For example every year there are pop-up stores such as Halloween City and Spirit that offer early-bird specials, discounts, and coupons. Other stores such as Michael's, Party City, and Target are getting in on the action as well. Usually by the last week of September or early October retailers have already slashed prices.
- Look online. Most of the aforementioned stores offer free shipping, or discounts with certain spend levels. Sometimes it’s a percentage off, other times, it could even be a BOGO.
- Buy in early November for next year. One way to score big discounts on decorations (especially those expensive animatronics) is to buy the closeout items just a few days after Halloween. It's also a good time to hit thrift stores to get costumes people have donated.
- Speaking of costumes, it's been my experience that many are cheaply made and run small. In fact, Spirit admits their sizing runs small and even encourages you to buy a size up, so pay extra attention to sizing. You can also shop with an eye to flexible, reusable pieces. For example, some costumes have the same basic components. This year's Julius Caesar costume can become a Jesus costume next year, and a Roman toga another time if, for example, the main component is a long, white tunic. Mix and match the appropriate accessories to change up your costume.
Here we are dressed as grape clusters handing out mac & cheese. Parents asked us for our wine!
There are lots of inexpensive things to do with your kids as well. Most streaming services offer up special shows and scary movies around Halloween. Schools have Halloween contests, and some cities offer trunk-or-treating as opposed to trick-or-treating if you live in a challenging neighborhood.
Even if you don’t have kids, you can have a lot of fun at Halloween. Throw and adults only party and require everyone come in a costume of their choice. Make sure it’s a legit costume. Don’t allow someone to show up in a baseball cap claiming that they’re “a fan” – that’s just not right!
Halloween can be fun but expensive. Remember, you should have planned for this extra in your annual budget. As an independent Certified Financial Planner™, I can help you plan for these adventures if you are feeling caught off guard. Contact me and let’s get started! #talktometuesday #education #Hireaplanner #stressfree #Halloween #budget #plan #spending