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Halloween Costs United States Consumers $6.86 Billion in 2011

WeeklyCredit10-24

Halloween is an enjoyable holiday for people of all ages. There’s trick-or-treating for the young ones, parties and haunted houses for the older children and the fun of scaring the trick-or-treaters that many adults enjoy. With all this effort that goes into making Halloween special, the bill can be quite high. When that credit card bill is opened in November, just as the winter holiday shopping begins, look out! The Halloween charges are scary!

Halloween Stats

The National Retail Federation performed its ninth annual survey of Halloween spending habits this year. They found that 161 million Americans, or 68.6% of the population, plan to celebrate the holiday. That’s up from the 63.8% seen in 2010. Spending is the highest in the survey’s history, with the average person spending just over $70. This amounts to a total of $6.86 billion for the country.

Even though less than a third (32.1%) of the survey’s respondents said the current economic conditions will affect how they spend this Halloween, a large 87.1% are hoping to spend less than they did last year. Nearly 19% said they will accomplish this by making their own costumes, while 16.6% plan to reuse last year’s costume. 40.2% have resolved to spend less on candy.

Halloween Candy Savings Tips

One of the most common purchases made during this time is on candy. A good suggestion for savings money on Halloween candy is to buy generic brands or buy candy in bulk from a local warehouse store. Although some people still make their own candy to save money, unless the people who receive it know you, most people will be scared and throw the candy away. However, getting the neighborhood together and splitting the cost of bulk candy can save a lot.

Costume Savings

The 35.6% of folks who will reuse or make their own costumes this year will certainly save a substantial amount. Practicing vigilant safety this year can also help people save by avoiding unexpected medical bills This includes reading candy ingredients, especially if you or your children have food allergies. After Halloween, don’t rely on minimum payments, as you’ll end up paying more interest over time. And if you’re concerned about your APR, talk to your credit card company. Tell them about those better deals you’ve been finding, and you’ll likely hang up with a more manageable APR.