For many people, Halloween is more than one night. It’s also a way of life. Nestled right before the busy winter holiday season, you could say October 31st is the unofficial start of the year-end festivities.

Halloween is a time to host parties, go trick-or-treating, and have some good old-fashioned fun. At the same time, celebrations cost money, and running up a bill on costumes, candy, and other activities could leave you empty-handed for the different holidays that are just beyond the horizon.

You don’t have to be haunted by a maxed-out budget, however. There are plenty of strategies you can adopt to keep this Halloween both exciting and easy on your money. Here are our tips to make this “spooky season” both fun and budget-friendly.

Try DIY Costumes To Save Your Wallet

Let’s start with the most visible aspect of Halloween: costumes. Dressing up during Halloween is something people of all ages do. When you get down to it, though, it seems like a costly practice.

One unspoken phenomenon of Halloween spending is that items like costumes tend to be used once and then forgotten. Consequently, this means committing a healthy sum of money to something that rarely returns its value. Not only that, pre-made costumes tend to be sold at a premium, which can prevent your budget from getting things that might make the holiday more enjoyable.

Instead of hitting the specialty shops for a costume, why not try making your own? 

Try putting together costumes from items you already have at home. Halloween is a time that captures people’s imaginations, after all. Let this be your chance for you and your family to flex some creative energy.

You can repurpose some items to make outfits that might blend into the season:

• Towels and oversized shirts make great superhero capes.
• Old clothing from years ago can build the basis for fashions from yesteryear.
• Bandage rolls and bedsheets invoke classic movie monsters. 

Another option is to visit your local thrift store. These places are treasure troves of clothing waiting for a second life. Going thrifting might spark your imagination while also saving a significant amount of money compared to buying a new costume.

Seek Cost-Conscious Approaches To Trick-Or-Treating 

Trick-or-treating is the activity we associate most with Halloween. Even if you’re trying to cut down on spending this season, that doesn’t mean you need to skip out on this iconic portion of the festivities.

If you love giving out candy, we recommend buying it in bulk. You may have better luck finding lower prices on fun-size treats at a wholesale club than at your usual grocery store.

Of course, there’s no rule saying you have to give out candy during Halloween. There may be more cost-effective goodies you can hand out to trick-or-treaters that still uphold the spirit of the season.

Try finding simple toys or party favors that will add a little more variety to trick-or-treaters’ bags. Low-cost alternatives to candy include:

• Stickers
• Noisemakers
• Tiny stationery
  

Trick-or-treating also involves being with a community. Your local community centers might be hosting a variety of events around this time. We encourage learning about these kinds of activities happening near you, as they help reduce the cost of entertaining the kids on your own. Popular community-minded events include:

• Movie nights
• “Trunk-or-treat” gatherings
• Pumpkin carving or decorating
  

Use Halloween To Share Teachable Moments With Your Kids

This Halloween might be a time when your budget may be feeling the squeeze. With Thanksgiving and the many year-end winter holidays just around the corner, it might be necessary to cut costs or make compromises.

If you have young children eager to participate in Halloween hijinks, now’s a good time to impart lessons on budgeting and spending. The lessons you impart now can build the foundation for smart money habits in the future.

Halloween can be a good time to talk about budgeting in simple, actionable terms. Before you and your children dive into the festivities, give them a pep talk about money-conscious topics and a few examples, including:

• Setting spending limits: Establishing a budget for costumes, decorations, and candy.
• Compromise and alternatives: Instilling the value of comparing the costs of items or making things yourself.
• Planning and time management: Giving a child the agency to pick an activity, committing to it, and working towards its success.
• Priorities and values: Demonstrating that imagination and creative skills can go a long way in controlling impulsive spending.
  

By prioritizing the community-focused aspects of this celebration, and with a bit of creativity, you may find it more rewarding to observe a budget-minded Halloween. Explore your options and talk with your loved ones about how you can make this season the one to remember.

First Florida wishes you happy and safe celebrations this season. For more budgeting tips and tricks, explore our Featured Articles section.