(TORONTO, ON) – As one of the busiest shopping seasons of the year, Halloween has become big business. Last year, Canadians spent more the $1.5 billion on everything from candy and costumes to elaborate decorations. While all that spending makes for a spooktacular night, the high costs of Halloween can leave you in a haunting financial situation.
See how your Halloween costs stack up with our Halloween spending infographic, and learn what other Canadians families are doing to keep the horrors of Halloween costs from haunting their budgets this year.
“Halloween is a great time of year, but when the average Canadian is carrying more than $26,000 in non-mortgage debt it is wise to be cautious about how much money you spend,” says Jeffrey Schwartz, executive director at Consolidated Credit Counseling Services of Canada, Inc.
“Planning ahead and creating a budget are proven strategies to help consumers save money and avoid credit card debt at Halloween,” added Schwartz. “While many Canadians do include the winter holidays as part of their family budgets, we often overlook the smaller holidays. Finding ways to account for holidays like Halloween and make room in our budgets for these annual costs can help keep Canadians out of the debt danger zone.”
Here are some tips Canadians have shared to keep high Halloween costs from haunting your family’s budget:
“Make your own costume. Last year I went to a thrift store and bought a blue suit for $5. I then glued on red ribbon, made a hat and bought a face paint kit for $5. I went as a Zombie Stewardess and won best costume. All for $10!” – Tiffany in Toronto.
“Spread your candy buying out so it’s not such a big hit to your budget.” – Lucia in Sault Sainte Marie.
“Recycle, reuse and reinvent. Being creative and unique seems to make for the best costumes.” – Jenn in Halifax
“Use (loyalty) points to buy all of your candy.” – Dawn in Hamilton.
“Coupon, coupon, coupon! Check out your local flyers, and group buying sites like WagJag and Groupon. The closer Halloween gets, the better the deals will be on candy and costumes.” – Jeremy in Calgary
It’s not too late to cut the creepy cost of Halloween. For more tips and tricks to keep the high cost of Halloween from haunting your budget this year, follow Consolidated Credit on Facebook – And share your own tips in our Tricks for Treats contest for a chance to win a special Halloween surprise.