How I Plan to Save $100 on Halloween This Year

If you're planning to raid your savings account to pay for Halloween this year, you're in good company. Halloween spending is expected to reach a record $12.2 billion in 2023, according to the National Retail Federation. On a per-person basis, that's $108.24.

Meanwhile, I spent around $200 last Halloween, broken down roughly as follows:

• $100 on costumes
• $50 on decorations
• $50 on candy

This year, I plan to eke out some savings to the tune of about $100 by making the following changes.

1. I'm only buying inexpensive candy

Last year, my kids insisted that we not put out the same Halloween candy as every other house in the neighborhood. So I went and tried to buy unique candy -- and spent more than I had to in the process.

This year, I'm planning to buy a variety pack of miniature chocolates from Costco and call it a day. This 90-ounce variety pack of minis is $22.99 online, so it'll probably be a few dollars cheaper at my local warehouse club store, since online prices tend to be a bit inflated.

All told, I think I can get away with spending $30 less on candy than I did last year by sticking to a simple mix. We won't win any awards for best selection, but it'll get the job done.

2. I'm only buying a few decorations

A lot of the decorations I bought for Halloween last year are still in decent shape. So all I need to do is not add to that collection too much.

I do want to replace some spider webs because those got destroyed last year through repeated wind exposure and door-opening. But all told, I don't expect to shell out more than $10 on decorations, which means I'm looking at spending $40 less than I did last year.

3. I'm not buying my son a new costume

My middle-school son is at an age where he really doesn't care about dressing up for Halloween -- he's only in it for the candy. I told him he still has to make an effort and put something special on to roam the neighborhood. But he has no problem wearing the Harry Potter costume I got him last year (even though he's not really into Harry Potter anymore).

Meanwhile, a new costume might easily cost me around $30 on Amazon. So if I'm not racking up that charge on my credit card, it's another $30 of savings this year.

Having fun without spending a fortune

Halloween is one of my kids' favorite holidays -- mine too, actually. So it's a holiday I'm willing to spend money on. But that doesn't mean I can't spend more judiciously.

An extra $100 could do a lot for my family -- put food on the table, pay the electric bill, or go toward the repairs I just found out my heating system might need. So if I'm able to save $100 on Halloween this year, then it makes sense to do so, especially if I'm still able to pull off a really fun holiday regardless.

If personal finances are tight in your household, then you may want to think about ways to scale back on Halloween. Those could include making your own costumes or doing a swap with neighbors to avoid buying new ones. You could also try having your kids make signs and spooky drawings to put up instead of springing for store-bought decorations.

There are different options to play around with. Gather your kids and make a plan so you're spending your money on the aspects of Halloween that matter the most -- while finding ways to enjoy the holiday on more of a budget.