Spooky Saturday Equals Scary Halloween Spending

Halloween 2015 falls on a Saturday and Canadians are ready to spend more

(TORONTO, ON) – Without school and work to hold us back, two-thirds of Canadians agree that a Saturday Halloween will result in more Halloween spending, according to survey results from RetailMeNot.

A spooktacular Saturday is encouraging a lot of adults to howl at the moon this year.  Aside from the usual family-friendly expenses of candy and decorations, creatures of the night plan to spend big party dollars in order to make this weekend a graveyard smash.

RetailMeNot’s survey found that Canadians are prepared to spend the following amounts:

  • $169 to host a Halloween party.
  • $77 to attend a party.
  • $55 for alcohol.
  • $52 for costumes.
  • $48 on entertainment (performers, music, bar cover, etc.).

Jeff Schwartz, executive director of Consolidated Credit Counseling Services of Canada, wonders if an evil scientist performed a financial lobotomy on Canadians.

Halloween is a wonderful excuse to have fun,” says Schwartz.  “But we can’t let ourselves turn into spending zombies by one-upping each other, like a bunch of skeletons trying to keep up with the Boneses.”

Schwartz points to the 33 per cent of survey respondents who hope to become the new favourite neighbour by purchasing expensive candy for trick-or-treaters, and worries the same attitude will apply to Halloween parties.

We see the same thing at Christmas and other big events,” says Schwartz.  “Everyone wants to go bigger and better, but with so many of us struggling with household debt, is this the best way to spend our pay cheques?”

Schwartz and the team at Consolidated Credit insist that Halloween does not have to cost you an arm and a leg.  Here are some ways to keep the expenses from sucking your blood:

  • DIY costumes. The best costumes are the ones that nobody else has.  Stand out with a unique (and frugal) costume by making your own.  YouTube is full of unique ideas that you can make with common items from your closet.
  • Swap with friends. Exchange costumes from yesteryear with friends so that all of those purchases don’t have to go to waste.  You might come away with an interesting costume piece that inspires a new idea.
  • Bring costumes back from the dead. You don’t have to be Dr. Frankenstein to reanimate your old duds, you just need some imagination.  Last year’s mobster fedora hat would work well as part of a Michael Jackson outfit!
  • Make your party a potluck. Asking your friends to bring Halloween-themed snacks and drinks will not only save you money, it will also mean for a greater variety of deadly delights.
  • Patience with the pumpkins. Waiting until the final days before Halloween can mean huge discounts on pumpkins as retailers aim to get rid of their ghoulish gourds.  Also remember that carving your pumpkin too early may mean that it will rot before All Hallows’ Eve.

 

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:

Jacob MacDonald, Manager of Community and Public Relations, Consolidated Credit Counseling Services of Canada, Inc., T: 416-915-7283 ext.1041, C: 647-390-5253, F: 416-915-5200, E: jmacdonald@consolidatedcredit.ca

Press Inquiries

pr@consolidatedcredit.ca
1-800-656-4120 x 1064