(TORONTO, ON) – Halloween is a scary holiday – but not just for kids. Budget-conscious adults are frightened by the rising cost of Halloween, according to a new survey from the digital offers site RetailMeNot.ca.
Eight in ten Canadians feel that Halloween is more expensive than it was in the past. Despite the financial concern, however, it’s still a holiday that 68 per cent of Canadians plan to celebrate.
So, just how much does Halloween cost? According to the survey, Canadians aged 18 to 34 anticipate spending $75 dollars on costumes and candy. And before you applaud their generosity when it comes to supporting trick-or-treaters, RetailMeNot also found that only half of the survey participants plan to give out candy and 56 per cent of them are planning to purchase candy for themselves!
Jeff Schwartz, executive director of Consolidated Credit Counseling Services of Canada, is worried about the frightful timing of Halloween, and it’s potential to suck the blood from household budgets across the country.
“Now is the time when Canadian families are typically dealing with bills from summer vacations and back-to-school spending,” says Schwartz. “Combine that with the upcoming Holiday season, and you have a witch’s brew of budget trouble.”
Only 15 per cent of Canadians saved in advance for Halloween last year, meaning the vast majority had to find some other way to come up with their pound of flesh.
Consolidated Credit has come up with some silver bullets to help you slay the Halloween budget monster:
- Costumes back from the dead – Go through your old box of costumes and see what is reusable. You might be able to re-purpose an old vampire cape into a Batman cape, and you can always mangle costumes into a “zombie” version.
- Swap with friends and family – Get together with other families and trade your old costumes. Rooting through grandma’s costume box might unearth some truly unique items and set you or your child apart from the crowd.
- Get crafty – Halloween is a perfect time to let your child’s imagination run wild. Conjure up the artistic spirit by buying materials from a craft store and spend an afternoon making costumes with your kids. Glitter and glue can go a long way.
- Careful candy shopping – Look for bulk deals on candy for your trick-or-treaters, and make sure you have a solid estimate on just how much you need. Over-buying will leave you with extra candy and ruin two things – your budget and your diet.
- Get a jump on 2015 – November 1st might be the perfect time to start thinking about next Halloween. Many stores have huge discounts; they need to clear space for the onslaught of Christmas goods. Stock up on items for next year and save a ton.
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, Public Relations Coordinator, Consolidated Credit Counseling Services of Canada, Inc., T: 416-915-7283 ext.1041, C: 647-390-5253, F: 416-915-5200, E: [email protected]