Are you ready to be scared? You, your friends and millions of other American consumers spent … eek! … a combined $6.9 billion1 on Halloween in 2011! That number is expected to rise even higher this year.
Just think of all that you could buy with that amount of money:
• 100 Bugatti Veyron Super Sports cars at $2.4 million each (imagine how much your garage would cost) = $240 million2
• 2 sports teams: the New York Yankees (the team’s famed stadium not included) = $1.7 billion, and the Los Angeles Lakers (make sure the Magic Johnson statue is thrown in for free) = $900 million, both amounts according to Forbes magazine.
• 1 trip to outer space for the next 10 years (now, that’s first class) = $200 million3
• 2 Emperador Temple watches at $3.3 million each (one for each arm, of course) = $6.6 million4
• 1,000 Luvaglio Laptops at $1 million each (for Free Laptop night at Yankee Stadium) = $1 billion5
• 1 Goldstriker iPhone 3GS Supreme cell phone (to tell your friends about all the cool stuff you just bought) = $3 million6
Oh, and that would still leave about $2 billion to spend on other items, such as candy corn and costumes.
What can you do to keep your Halloween costs down this year? Here are some sweet (and cost-effective) Halloween tips for parents:
Candy won’t win you a prize. When was the last time you got a hug or thank-you note from a trick-or-treater? It’s not going to happen, no matter what kind of treats you hand out. Instead of spending extra money for super-sized candy bars or the highest quality chocolate, you can reduce your candy costs by buying lollipops, bubble gum, or hard candy. These items not only cost less, but you typically get more in each package.
Give away your toys. Think about all the times you’ve bought kids a meal at a fast-food restaurant and received a complimentary bite-sized toy. Why not give away those tiny toys? Be sure to wash the toys first and put them in a separate bowl that doesn’t have any candy. You might be surprised at how many trick-or-treaters choose the toy over the sugary alternative.
Can I borrow that? Do your kids enjoy wearing the same costume two years in a row? Of course not. Why not ask your friends if you can check out their costume inventory? If you find something that your child will wear, you just saved yourself between $20 and $50.
Use it again. Have your children ever been in a school play or dance recital? Have they played football or baseball? If so, you’ve got more “free” Halloween costumes than you realize. Be sure to re-visit your family inventory before heading out to buy a new costume.
With our Halloween tips for parents, you can enjoy the spirit of the season, without the scary spending that often comes along with it.
1. National retail Federation, 2011
2. www.caranddriver.com, 2012
3. Yahoo Finance, 2012
4. www.complex.com, 2012
5. www.gizmag.com, 2012
6. www.goldstriker.com.uk, 2012