Photo Credit: Halloween Express
An Enslaved Debtor complete with bondage. (A person in a suit or dress, with mini cars, school books, shopping bags, bank statements and Starbucks coffee cups glued to it, while sporting the provocative shackle and handcuff accessories.)
Seriously though…
How special is your Halloween celebration? Do you go ALL OUT, or do you save your greenbacks for some Christmas shopping?
According to a survey by National Retail Federation (NRF), Americans are expected to spend 5.8 BILLION dollars this Halloween. That’s not even close to what will be spent on Christmas, but this number surprises me because of the status of the economy. This number suggests that the average American will spend about $66. Just over $10 more per household than last year.
A question I wish they had answered is how much will the average American spend on credit cards? Halloween is not a reason to play Russian roulette with your finances, if you are already unprepared, especially in these uncertain times.
If you have the money fine, but don’t run out there and put $66 on a credit card if you’ve got mounting debt and no savings put aside. Your behavior prior to now shows what’s likely to occur, despite your very best efforts to follow through.
How many times have you said you were going to pay something off at the end of the month but then you didn’t?
I’ve said it a gazillion times myself, and I was completely convinced every single time that I was not joking this time. My point is this.
Got DEBT, spend cash! Although I have stopped using credit cards completely, I’m not saying you should stop using them forever — just for now. Just until you get your financial behavior under control.
Under control doesn’t mean simply paying down the balance. It means paying off ALL of your debt and giving yourself an emergency buffer. (a real one with at least 3-6 months of expenses.)
Then, and only then — should you choose to do so– could you start using those credit cards again. At this point, hopefully, you’re a much different person in terms of using them responsibly. Right?
Costly Costumes?
What ever happened to a little face paint and some good old-fashioned homemade ingenuity?
Call me old-fashioned, but I remember having lots of fun getting painted up, and trying to be as clever as possible creating the costume. Even if those days are long gone, you should still consider taking a more frugal route.
I’d rather make someone’s Christmas by having a little extra money to give them for Brad and J’s Annual Christmas Stimulus giveaway, than spending a bunch of money playing dress up! (Oh yeah, it’s that time of year again, and this year J. MONEY – AND – I – ARE – GOING – TO – ROCK – YOUR – SOCKS – OFF!!)
Back to this Halloween thing.
Isaac wants to be Superman this year, and Noah will be the most adorable skunk I have ever seen. The skunk costume cost my wife less than five dollars at a yard sale, and for Superman we are looking at about $20. $25 plus a few bags of candy to pass out and we’re set.
Maybe I should really consider going as an enslaved debtor. That’s pretty scary if you ask me. (The hair on my neck just stood up.)
OR I could go as the Enemy of Debt comic character, but I’m not too sure about the spandex requirement. 😉
READERS: How much are you planning to spend this Halloween? Will it be paid for with cash or credit?
Halloween costumes have exploded in price. I think this is mainly because of the new “come and go” Halloween store business model. Its pretty interesting. A franchiser will buy a ton of product, get a short term lease on an open/recently close store in a shopping mall, then sell everything he/she bought for double.
Yeah I\’ve always wanted to get one of those really nice high quality costumes you see others wearing, but I could never wrap my head around the price of such a purchase. LOL
I like the ones that are from the thrift store! Homemade costumes are the best. =)
I know right!
We just got my daughter’s costume at a thrift store, added a few accessories, making our own fake blood – $15.96! Booya, baby! 🙂
My son’s for free – he racked our closets and stored away Halloween stuff for a costume. Me, I have extra scrubs and a lab coat I can throw some fake blood on. We’re all good (and frugal).
Sounds great, that’;s what I’m talking about. 🙂
I like the idea of an enslaved debtor… hum where can we get enough old credit cards to make chains?
Haha! I like that idea! That would be awesome!
That’s also a good question. You have people who would never let go of their cards, and the rest have already cut them up. One could probably find enough at Financial Peace University class though. 🙂
Fair enough–or you could just dress in some regular work clothes, even a suit. If anyone asks if you are James Bond, just say that you owe a lot of money and have to sell 8 hours a day 5 days a week of your time over the course of 30 years to just feed your kids.
I am spending nothing this halloween. Old reused costumes. Actually my parents picked them up for me (THEY love halloween.) No trick or treating in my area. And I would rather be at home drinking hot chocolate then wear a costume out to parties. Wanting to get out of debt so bad!
Yeah I understand Julie. Truthfully, if it wasn\’t for my kids I wouldn\’t even bother celebrating Halloween at all. It\’s a holiday for 4-10 year olds and perhaps college kids but other than that it\’s pretty pointless to me. We enjoy dressing our kids up but we make sure to do it on the cheap. I know of a few people that spend hundreds of dollars on candy and decorating their porch. There\’s a lot more things I would rather spend a couple hundred dollars on that\’s for sure. 🙂
Brad this is the old story all over again…Marketers have come up with so many ways to get us to spend money. Halloween, Sweetest Day, Valentine’s Day, Labor Day, President’s Day, etc., etc.,
I don’t particularly think holidays are a bad thing it’s just that they are becoming more of a money grabbing day with SALES and SPECIALS OFFERS from merchants rather than what they are specifically for.
Great Article keep it up!
I agree Steve. It\’s a marketing engine that never dies. I like the idea behind some of these holidays but even on Valentines Day my wife and I don\’t really spend very much. We save those gifts for the day that really matters to us…our anniversary! 🙂 The most significant holiday for us is Thanksgiving and Christmas and even on Christmas we try to remain frugal.
Thanks for sharing your thoughts my friend! 🙂