Consumers Spending More For Halloween

Dozens of shoppers packed the Halloween Express store in Amarillo Saturday afternoon. They are like many Americans who are expected to spend big money this holiday season.

"Halloween is definitely one of the biggest ones in our family. We kind of go all out," said Laurie O'Neal.

The National Retail Federation estimates that consumers will spend more than $5 billion this year on Halloween sales. That amounts to about $65 per person, $5 more than last year.

"Probably on the whole family, I'll spend maybe $70," said O'Neal as she struggled to keep all the items in her hands.

After a few wigs, fake teeth and some paint, O'Neal's total? $70.

A manager at Halloween Express says business is good.

"If you're going to have three kids and the parents are going to buy two costumes. You can usually spend about $150 to $200 dollars on our customers," said Ryan Vannarsdall.

This rise in consumer spending is good for retailers, but can be worrisome to financial advisors who make sure their clients spend wisely.

"I would have a budget when I go in and know that when I go in there (the store).  Know that there will be some emotions pulling on me. The store is going to be trying to pull on me to spend some more money. You have these kids trying to spend, make me spend some more money," said Bill Schwartz, a financial advisor for Edward Jones in Amarillo.

Schwartz said retailers are rolling out holiday merchandise much earlier each year. So he said its important consumers have a game plan early on.

"Run your household like a business.  Like a business when you walk into that business place you know they're trying to entice us to the high margin items, so kind of avoid that," said Schwartz.

For Laurie O'Neal, coming up with ways to cut down on spending is always on top of her list.

"Absolutely you can go crazy on your stuff. But go to your closet pull out a few things. I'm going to use everything below my neck out of my closet," said O'Neal, as she looked for more accessories for her cavemen costume.