In 2023, Americans are expected to spend $12.2 billion on Halloween purchases.1 That’s a lot of costumes, decorations, and candy! If you’re looking forward to the spooky season but don’t have a lot of wiggle room in the budget for holiday fun and fare, use this guide to keep your spending in check. With some preparations and creativity, you’ll be able to celebrate without racking up a ton of credit card debt.
3 ways to avoid haunting post-Halloween debt
1. Get creative for affordable costumes
Sticking with standard stores like Walmart, Target, or pop-up stores like Spirit Halloween can drive up the price of your costume. You may be surprised at the deals and discounts you can find at alternative stores including: the Dollar Store, Marshall's, or warehouse stores like Costco and Sam’s Club. Thrift stores also have great finds for unique costumes at a great price, and many even have sales around holidays that allow you to enjoy even steeper discounts.
Detouring from the Halloween aisle may also be beneficial because seasonal Halloween costumes are often marked-up in price. Check out the toy aisle for dress up clothes that may be more reasonable.
2. Use existing décor… or get crafty
Sure, something like 2022’s trending 12-foot skeleton decoration would look awesome in your yard. But is it worth buying and dealing with the financial stress? Take stock of what you already have before spending more money on Halloween decorations. This may involve going through storage areas like closets or basements and rediscovering items in your stash. Who knows – there may be a box of window lights you forgot about!
If you’re itching for something new, consider crafting your own décor. For example, you could collect fallen leaves and create a colorful wreath for a fraction of the price of a store bought one. Or you could tear up old white bedsheets to make reusable spider webs. The possibilities are endless!
3. Buy candy in bulk
If there are a lot of kids in your neighborhood, you may be expecting a lot of trick or treaters this year – and that means you’ll need a lot of candy. To reduce the cost of purchasing it, consider shopping at bulk stores like Costco or Sam’s Club. These stores typically sell larger bags that are cheaper when you look at the cost per pound. As a result, you can get what you need without leaving a sour taste in your mouth!
With these tips you can keep spooky season fun and affordable. For any purchases you were going to make anyway, reach for your General Electric Credit Union (GECU) credit card. Gold2 cardholders earn unlimited cash back, while Platinum3 and Visa Signature®4 cardholders earn points and redeem them for cash back, gift cards, and more!
