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Budgeting: Halloween

Despite the pinch of the current economy, pumpkins, ghosts and goblins are as fun as ever, and consumers are still spending on Halloween. Like many Americans, you may have tightened up on your holiday spending, but October 31 is a time when "Trick-or-Treaters" of all ages open their wallets to spend.

The purchases that help make Halloween a special holiday can add up. Parents plan on spending an average of $67 this year on Halloween costumes, candy and decorations, according to an online study Visa conducted in 2009. The 85% of moms and dads with children under 18 who celebrate the holiday estimated they would spend almost $70 in 2009. To learn more about how Americans are spending during Halloween, view the video.

Some other key findings in the study:

• Parents under 35 years old believe they will spend an average of $72 compared to $65 for those between 35 and 54 years old.
• Parents in the East estimate their spending will be $75, while parents in the South, West and Midwest expect to spend less — $67, $65 and $63, respectively.
• Those parents married within the past 10 years plan on spending $76 —$15 more than parents married over 10 years.

Whether you are hosting a big party or going to someone else’s event, you may want to keep a few things in mind to stay within your budget.

1. Plan Ahead. Making sure you have all of the costume materials, decorations and candy that you need on Halloween day requires some advance planning.
2. Make a budget and stick to it. Like any holiday, there is the temptation to go overboard on spending during Halloween. Set a realistic budget in advance and stick to it to avoid a Halloween hangover. Use our Entertainment Planner calculator to help you create a budget for your party.
3. Be creative. Want to have the scariest looking house in your neighborhood? Get your kids or friends involved in making decorations, so you don’t break the bank making the house look frightful.
4. Get together. To help defer some of your holiday costs, plan a party with friends and family so you can share the burden (and the fun!) of hosting a neighborhood party.
5. Be safe. Everyone wants to have fun on Halloween, so when hosting an event, remember to keep the environment safe for children and parents alike.

Did you stay within your budget this year? Track your actual spending against what you planned to spend. To learn more about how Americans spend nationally during Halloween, download the Halloween Spending Survey 2009.