Inflation and keeping up with the neighbors may have you slashing and gashing your Halloween budget quicker than you had planned. The National Retail Federation projects consumer spending will reach a record $12.2 billion by the time the last witch parks her broom for the night.
Michael Tonelli, who lives in City Heights, said his aunt went all out this year, spending close to $2,000 to make her new home the scariest one on the block.
“There are spider webs and inflatable decorations, tombstones, stuff like that, and we’ve already had a few parties there,” Tonelli said, adding that there seems to be another Halloween decoration bought every other day.
Meanwhile, Kevin Peña of San Diego zombied his way out of the Halloween store. His hands were empty because his budget was slaughtered by the cost of the costume and accessories he was hoping to buy for a party.
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“I didn’t have enough money, so I told them I would have to come back with more money,” Peña told NBC 7.
According to the NRF, per-capita spending is expected to hit a new record of $108.24. A good chunk of that will be spent on costumes., which will hit a record $4.1 billion.
But don’t let this scare you away from the fun. Let's take a stab at a few strategies to shield your budget from ghoulish spending:
- Borrowing or trading costumes could help two Halloween revelers
- Sell your old costumes instead of keeping them in a box after the holiday. You’ll free up space and maybe score some cash you could use for a new costume
- Mix and match previously used costumes to create a cosplay original
- Don’t leave everything for the last moment. It may save you money but will really limit your options.
- Discount and consignment stores could possibly offer a good option on a spooky costume.
“It’s a great time with the community, to see kids with their parents," Tonellis said. "You make getting scared a fun activity,” said Tonelli.