Americans expect to spend $8.8 billion on costumes, decorations, candy, and other Halloween purchases, according to the National Retail Federation.1
That’s enough money to purchase the New England Patriots ($3.8 billion), the Los Angeles Dodgers ($3.3 billion), the Hannah Montana franchise ($1 billion), Balmoral Castle in Scotland ($140 million), a private jet ($150 million), and still have a few hundred million left for incidentals.2, 3
If you’d like to save on this holiday so you can spend your money on items with lasting value, consider going green. Taking an eco-friendly approach to Halloween could help you spend less without sacrificing spookiness. Here are a few suggestions:4, 5
- Swap costumes. Host a costume swap. Invite friends, family, or your entire neighborhood. The more guests, the greater the variety of costumes and sizes.
- Skip the candy. Green America reported children appreciate bubbles, polished stones, recycled pencils, and friendship bracelets.
- Use your ingenuity. Instead of scaring your neighbors with pricey, electric-powered inflatables from a big box store, use your ingenuity. Hang tin can ghosts in trees. Cut eyes in toilet paper tubes and use glow sticks or LED lights to make it look like wolves are peering from your bushes. Fill black trash bags with leaves raked up from your lawn and add yellow eyes for a spooky cat.
You can take any money you save and put it in a college savings account for your kids, a start-your-own-business fund, or a retirement account. If you’d like some more great saving ideas, give us a call.
Happy Halloween!
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The information provided for informational purposes only, and does not constitute an offer, solicitation, or recommendation to sell or an offer to buy securities, investment products or investment advisory services. All information, views, opinions, and estimates are subject to change or correction without notice. Nothing contained herein constitutes financial, legal, tax, or other advice. These opinions may not fit to your financial status, risk and return preferences.
Sources:
1 https://nrf.com/media-center/press-releases/social-media-influencing-near-record-halloween-spending
3 https://www.rd.com/culture/what-can-a-billion-dollars-buy-you/
4 https://www.greenamerica.org/green-living/green-your-halloween
5 https://homebnc.com/best-diy-halloween-outdoor-decorations/