Experts say Americans are likely to spend big on Halloween, but CBS2 has some tips for those looking to save some cash


NEW YORK — It doesn’t look like the economic pressure will scare people off celebrating Halloween.

The National Retail Federation predicts that Americans will shell out $10.5 billion on costumes, decorations and candy.

But if you want to save a little money, CBS2’s Dave Carlin has some advice.

Washington Heights’ Landy Peralta and his friend, Valerie Jesus, want their Halloween costumes to look spooky.

“Maybe a zombie,” Peralta said.

READ MORE: Family collecting Halloween costumes for an annual gift

Noticing higher prices for Halloween items, the scary sticker clash isn’t what they’re looking for. The personal finance experts at The balance analyzed what inflation does on Halloween and found that candy is almost 11% more expensive than last year. The cost of cookies has increased by over 14%, pumpkins by over 7% and for costumes you will pay 6% more.

Peralta and Jesus have purchased monster makeup and can DIY the rest of their costumes with items they already have, without spending a fortune.

It’s a good decision, said Kristin Myers, editor-in-chief of The balance.

“And I say go out and celebrate Halloween, but do it in a way that maybe you can save a little money too,” Myers said.

She said she did it herself.

“I was a zombie prom queen one year and I went to a thrift store and bought a dress for $2. I got face paint. I got a tiara and all that literally totaled $12,” Myers said.

Carlin spoke to some people who said they want to save money for Halloween, but there’s also something about the holidays that makes them want to splurge.

“I like shopping in stores,” said Joseph Hamway.

Joseph Hamway and his son, Joshua, bond as they shop.

“There is inflation. Everyone is feeling it right now, but life goes on and you always have to enjoy it,” Joseph said.

“And dad always gets me Halloween costumes and he’s the best of dads, I love you,” Joshua added.

These moments are priceless to them.

One final tip from Myers is to hit up Halloween supply stores or jump online starting Nov. 1. You’ll find decorations at a discount and next year’s perfect costume at a much lower price.

The National Retail Federation conducted a survey and found that the best costumes in 2022 will be classics: witches and vampires for adults, and Spider-Man and princess outfits for kids.

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