How To Save Money on Halloween Costumes

*This post has been reviewed by an Illinois Registered CPA. However, when making important financial decisions, it's best to speak with your financial advisor.

Last Updated on August 25, 2022

Learn How To Save Money on Halloween Costumes

Halloween can be fun, especially for kids, but it can be expensive for adults. Halloween costumes are one of the major expenses you have to consider for this special day. You might want to get a new and out-of-the-ordinary outfit each year. That can drain your budget. Are you wondering how to save money on Halloween costumes? Learn tips to help you and your family look awesome for Halloween without overspending.

How Much Do Halloween Costumes Cost?

These costumes’ prices vary depending on:

Material
Design
The number of items included

You can check out different online stores to understand the average cost. For example, prices start from $11 per costume on Walmart’s website.

You can also find many Halloween costumes on Amazon. There, the prices vary from approximately $15 to $70. At Party City, adult costume prices currently start from $11. This price comparison research was carried out in July 2022, so prices may change for these products as Halloween approaches.

Other Halloween-related expenses

Findings from Statista show that Halloween is not necessarily the cheapest holiday for Americans. Besides the costumes, there are also the decorations and the candy. All these costs can make Halloween expensive. Data from 2021 shows that:

The Halloween expenditure reached $10.1 billion
Americans spend $3.2 billion on annual Halloween decorations
The average person spends $102.74 on Halloween items

In this context, cutting Halloween costume expenses might be worth it. Here are a few suggestions on how to save money on Halloween costumes.

How to Save Money On Halloween Costumes by Budgeting

Budgeting can help you save money by allocating a fixed sum to a specific expenditure, in this case, Halloween. You can even tackle the dilemma of why you can’t save money by budgeting.

A strategy that can help you budget for this special day is the envelopes system. Create separate envelopes for different Halloween-related expenses. Put into each envelope a specific amount of money. Only use what’s in each envelope for that expenditure. Here is an example:

Total Halloween budget	$150
Kids’ costumes	$70
Your costume	$30
Halloween decorations	$30
Halloween treats	$20

Other budgeting strategies that might help you out are the 50-30-20 budget and the half-payment method. The first strategy suggests putting aside 20% of your monthly income. You can use this budget for your Halloween costumes.

The second strategy involves saving 50% of each paycheck for a specific goal. Your goal, in this case, will be Halloween costumes. Set aside a fixed budget for this. Then, split it in half and save the necessary amount from your September paychecks. In October, you’ll have the money for your costumes.

To save money by budgeting for Halloween costumes or any other expenses, follow these three steps:

Establish your goal (e.g., save $200 per month).
Calculate your monthly income and make a list of expenses.
Allocate a fixed budget to each expense and don’t exceed it.

Saving Money with Free Halloween Costumes

Getting Halloween costumes for free is also a solution to save money. This might be possible if you search for free Halloween costumes online.

There are websites such as Freecycle where you might find free costumes. This is a platform where people post items they no longer use so that others can take them. Take advantage and look for Halloween costumes. Even a single free costume matters for your budget if you have kids. If you’re single, you might still want to avoid paying for an outfit if it’s available for free.

Another way to get a Halloween costume for free is to ask around. If you use social media platforms, take advantage. Open a discussion to see if anyone has free Halloween costumes that you can borrow. You can also do this offline.

Your neighbors might have some cool kids’ costumes their children are no longer using. You might also be able to borrow from friends or family. Think of people who could help you with this and contact them.

Rely more on makeup than clothes

Are you wondering how to save money on Halloween costumes? An option is not to focus on them in the first place. You could achieve a great look without spending much on clothes and focusing more on your makeup.

With full-face makeup, you’ll surprise everyone at the Halloween party. You don’t have to be a makeup pro to learn how to do it. There are plenty of tutorials on YouTube to help you out. You could achieve a fantastic Halloween look only with makeup if you have time to watch videos and practice.

Focus on Accessories

You could pair an inexpensive costume with low-cost accessories. For example, you could wear a plain dress or costume and match it with an outstanding hat or wig. These can draw attention more than the clothes and make you look great.

Try to look for relatively inexpensive items that can compliment your costume, such as:

Hats
Wigs
Ties or bow ties
Bracelets
Earings

They can add a touch of style and originality to your outfit.

Use What You Already Have

There are different ways to recycle your old costumes. You can also invent new ones from the ground up without wasting money. If you have a generous wardrobe, get creative. Look around for items you can use as Halloween costumes.

Mix and match

You can ask your partner, a friend, or a relative to help you with this by lending you items to create your costume. Mixing and matching can lead to an awesome Halloween costume.

You could borrow a dress from a friend, a pair of shoes from a relative, and so on. Then, add the final touches by using makeup. For example, you don’t need to buy a mustache, use your eyeliner to draw it. Mix and matching requires a bit of effort and creativity, but the result can be an original and free Halloween costume.

Switch kids’ costumes

Another idea is to ask kids to switch their previous year’s costumes. Each one can wear their sibling’s outfit. Maybe you can make some adjustments to bring in a bit of novelty. For example, use a different hat, or add some new accessories.

Each one wears something else, so you don’t spend money on new products. If they don’t want to swap costumes, try to expand the circle of possibilities. If a friend or relative has kids of similar age and height, ask if they agree to switch costumes. It would also help them save money.

Rent Halloween costumes instead of buying

Another economical solution is to rent instead of buy. You might not want to dedicate closet space to permanent Halloween costumes. A new costume each year costs money and only crams your closet.

Try to look for rental costumes as an alternative. You just have to make sure you give them back in the same condition. This will prevent you from paying for repairs or having to buy them. Check out options online. It might be the most convenient way to rent.

Look for Halloween Costumes at Thrift Stores

Do you need help on how to save money on Halloween costumes by spending less? Try thrift stores. You might find interesting options. In the best-case scenario, you will come across a complete costume. If not, even separate items can help. You might find a witch hat and pair it with a black dress or a pair of boots from the same store.

Thrift stores can help you save money on Halloween costumes. Going there more often can help you save money in general. This habit can also influence the rest of your expenses. It might even help you fix your credit fast. By paying less on apparel, you save money that could help you pay debts faster and improve your credit score.

Using pre-loved clothes could lead to savings. Imagine you paid 50% less on everything you buy from a secondhand store. The average American family spends $1,434 on clothes every year, according to the Bureau of Labor.

Here is an example of how much you could save if you spend an average of $1,400 on clothes per year and manage to save 50% by shopping in thrift stores.

Money spent on average per clothes yearly	Money spent on clothes in thrift stores (50% less)	Money saved
$1,400	$700	$700
Money saved in 3 years	$,2100
Money saved in 5 years	$3,500

You could save $700 per year by shopping at thrift stores if you find products that cost 50% less. This can lead to cost savings of $2,100 in three years and $3,500 in five years.

The secondhand clothing industry grows yearly. More people have become aware of its potential. Statistics show that generation Z and millennials are more willing to buy secondhand clothes. According to Statista, the secondhand and resale industry was worth $96 billion in 2021. By 2021, this market is expected to grow by 50%. By 2026, it could reach $218 billion.

Buy Your Halloween Customs Months Ahead

It’s only spring; who’s thinking about Halloween right now? You might be surprised how much changing this mindset could help. Buying stuff for winter in summer and vice versa could lead to significant savings. This is precisely the result of low demand.

There are probably not many people looking for artificial Christmas trees in July. In the summer, these can cost less. You could spend up to 40% less on these items if you buy them in the warm season compared to their winter price.

The same strategy can apply to Halloween costumes. Buy them in spring or summer, use them in autumn, and pay less. While writing this article, we’re in August, and Halloween costumes have discounts of up to 50% on Amazon.

Create a Halloween Costume from Scratch

If you’re good at DIY, you might want to try making your own Halloween costume. You can find ideas online. You will also find different tutorials and tips on how to sew, match colors and materials, and anything else in between. As long as you know the sewing basics, the DIY Halloween costume ideas will come easily.

Here are a few options that might inspire you. To save more money, replace new materials with recycled ones. A piece from an old dress, denim from jeans you no longer wear, or an old raincoat you were planning to throw away can be part of your DIY Halloween costume.

Get Less Expensive Treats

Halloween candy treats are part of the special day. You might want to be a great host and treat kids with quality candy. You can also do this while spending less. Try to spend less on candy by limiting the amount. Buying a lot might not make sense if you usually have leftovers yearly. Apply other strategies to save money, such as buying

Cheap Halloween treats such as peppermint balls or stickers
Bulk candy
Small-sized candy bars

Frequently Asked Questions (FAQs)

How can someone pick the right Halloween costume to save money?

You could apply one of the following methods to cut Halloween costumes cost.

Only look for discounts.
Buy your costume months ahead to pay less.
Avoid in-demand characters and themes that cost more.

How can I spend less on Halloween decorations?

One way is to put aside a strict budget for this and avoid crossing that limit. You can also try to buy items from thrift stores that cost less than new ones. Recycle everything you can from last year. Put aside what you buy this year, so you can also use the decorations in the future.

Where can I go to buy cheap Halloween costumes?

The best way to come across good prices is to do your research. Look for several options online. Don’t limit your search to a single website or marketplace. Do the same if you go to department stores. Seeing more costumes enables you to make the best choice, both financially and style-wise.

Sources:

City, P. (n.d.). Graduation. & Adult Costume Ideas 2021 | Party City. Retrieved June 12, 2022, from https://www.partycity.com/adult-costumes

Cowles Creative Pub. (1997). Halloween costumes. Amazon. Retrieved June 12, 2022, from https://www.amazon.com/halloween-costumes/s?k=halloween%2Bcostumes

Halloween costumes. Walmart.com. (n.d.). Retrieved June 12, 2022, from https://www.walmart.com/cp/halloween-costumes/1088766

Tighe, D. (n.d.). Topic: Halloween in the U.S. Statista. Retrieved June 12, 2022, from https://www.statista.com/topics/1727/halloween-in-the-us/#topicHeader__wrapper

U.S. Bureau of Labor Statistics. (2012, June 1). How much do consumers spend on apparel? U.S. Bureau of Labor Statistics. Retrieved June 13, 2022, from https://www.bls.gov/spotlight/2012/fashion/home.htm

Smith, P. (2022, March 22). Consumer willingness to buy secondhand apparel by age worldwide 2021. Statista. Retrieved June 13, 2022, from https://www.statista.com/statistics/828034/willingness-to-buy-secondhand-items-by-age-worldwide/

Smith, P. (2022, June 1). Secondhand apparel market value worldwide 2021-2026. Statista. Retrieved June 13, 2022, from https://www.statista.com/statistics/826162/apparel-resale-market-value-worldwide/

Wolf, K. (2021, October 27). 15 spooky, fun, easy-to-make Halloween costume ideas. Skillshare Blog. Retrieved June 13, 2022, from https://www.skillshare.com/blog/15-spooky-fun-easy-to-make-halloween-costume-ideas/

U.S. Bureau of Labor Statistics. (2021, December 1). Overview. U.S. Bureau of Labor Statistics. Retrieved July 31, 2022, from https://www.bls.gov/opub/reports/consumer-expenditures/2020/home.htm