Halloween spending has ballooned to frightening levels
TORONTO, ON, October 25, 2016 – It’s a scary time of year for many Canadians. Ghouls and goblins will be roaming the streets looking for their next big candy fix on Halloween night. But the real scare is that Halloween has ballooned into money-making holiday.
In 2014, Canadians as a whole spent $397.7 million dollars on Halloween candy alone. If you think about it, that’s a lot of money to feed all of the trick or treaters in one night! To give a better idea of how many children head out for candy; in 2015 Statistics Canada says there were approximately 3,816,018 children between the ages of five to 14 knocking on doors for Halloween candy.
As fun as it may be to hand out candy to children of all ages and even dress up as your own favourite superhero or reality TV star, Halloween is becoming an expensive holiday for many families across Canada. Those cute and scary costumes cost money, as well as the accessories. Throw in buying candy for the kids in the neighbourhood and you are looking at a lot of money shelled in one night. How much? A survey by RetailMeNot says on average last year Canadians spent the following for Halloween:
- $52 for costumes
- $43 for decorations
- $42 for candy
“Halloween can be an expensive time of year for many Canadians especially if you are trying to play catch up with your summer time credit card bills. Not only that, if you are still trying to figure out your budget for the holidays, you may be ill-prepared for Halloween,” says Jeffrey Schwartz, executive director, Consolidated Credit Counseling Services of Canada.
“Nevertheless Halloween is the kind of holiday where many Canadians will stray from their budget to wear the best costume, buy the best candy and have the spookiest home decorations. Although it is a fun holiday it can put you in debt if you are not careful,” says Schwartz.
With more than half of Canadians getting ready to be spooktacular this Halloween, ConsolidatedCredit.ca offers the following tips to help consumers have a frugally ghoulish time and keep Halloween spending low:
- Bring your accessories back from the dead. Little accessories can add up quite fast. Save your money and reuse your accessories from an old costume or better yet, revive an old costume.
- What is old is new again. Check out your local consignment shop to find like new costumes and/or accessories. You will have fun rummaging through the Halloween clothing racks.
- Spend your dollars. Your local dollar store is filled with Halloween makeup, costumes and/or accessories. You can score really big and save a lot of money too. The key to having a successful Halloween dollar store shopping trip is to go early.
- Walk down memory lane. Sift through last year’s Halloween decorations and reuse them, or better yet, do a costume swap with your neighbors.
About Consolidated Credit Counseling Services of Canada, Inc.:
Consolidated Credit Counseling Services of Canada is a national non-profit credit counselling organization that teaches consumers about personal finance.
For more information or to request an interview with Jeffrey Schwartz, please contact:
Natasha Carr, Community and Public Relations Manager, Consolidated Credit Counseling Services of Canada, Inc., T: 416-915-7283 ext.1041, C: 416-830-4720, F: 416-915-5200, E: [email protected]