Halloween Spending Surges as Americans Budget More than Thanksgiving Celebration Expenses

A recent survey conducted by CIT Bank shows promising trends in Halloween spending among American consumers. Compared to Thanksgiving, more Americans are allocating larger budgets for Halloween this year. According to the study, 38% of U.S. adults plan to spend $300 or more on Halloween, significantly more than the 19% who intend to spend the same on Thanksgiving, and just 11% for New Year's Eve or New Year's Day celebrations.

This growing enthusiasm for Halloween comes alongside a notable shift in consumers' financial strategies. A majority, 54%, of respondents reported aiming to spend at least $200 on the Halloween holiday, while only 39% and 23% anticipate similar spending for Thanksgiving and New Year's, respectively. Overall, the average expenditure for Halloween stands at approximately $210, with Millennials and Gen Z pushing this figure higher at $308 and $270, respectively.

Interestingly, the survey revealed that 63% of respondents feel more price-sensitive regarding Halloween expenses this year compared to last. Many of them are adopting budgeting strategies early, with 61% beginning their shopping before October: 42% even start as early as September. This shift signifies a careful approach towards holiday spending, balancing fun with financial responsibility.

Jose Castro, head of CIT Bank, emphasizes the significance of financial planning during this festive season, stating, "Halloween is one of the most exciting moments of the year, and Americans are going all in with costumes, decorations, haunted houses, and weekend parties. They are also planning wisely, shopping early and getting creative with DIY decorations and bulk candy. Setting money aside ahead of big moments like Halloween, ideally in a high-yield savings account, lets you enjoy every bit of the celebration while keeping your financial goals on track."

How Budgeting Affects Halloween Plans

The survey further highlights that 51% of participants anticipate their costume choices will be influenced most by budget considerations. This is ahead of factors like personal creativity at 36% and input from friends and family at 35%. Notably, savvy shoppers are exploring various methods to cut costs; 71% indicated they would prefer buying candy in bulk, while 62% would venture into discount or dollar stores for their shopping needs. Additionally, many are considering cost-effective options for decorations, with 39% stating they would create decorations themselves, and others opting to reuse or swap costumes.

The younger generations are at the forefront of Halloween spending trends, especially regarding costumes and experiences. Gen Z, in particular, shows a strong commitment to personal expression, with 71% expressing their willingness to spend on costumes they can share on social media. In contrast, only 53% of all adults surveyed indicated similar spending.

When it comes to social media engagement, 52% of Gen Z and Millennials expressed they would pay extra for costumes to enhance their online presence, a significantly higher percentage than the overall 38%. Among Gen Z respondents, 37% indicated they would spend more than $100 for costume designs intended for social media sharing.

Where Do Halloween Budgets Go?

Consumers are not just purchasing candy; they are spreading their budgets across various categories. Beyond candy, which 92% plan to buy, expenditures will also go towards outdoor decorations (67%) and home or party décor (65%). Notably, 46% of respondents have set aside $100 or more for experiences like haunted houses and hayrides, while 42% plan to allocate at least $50 for candy purchases.

Families and pets seem to take precedence over personal costume spending, with 23% intending to spend over $200 on family costumes, compared to only 4% for personal costumes. Moreover, more than a quarter (26%) of participants are budgeting $40 or more for pet costumes, indicating a growing trend of including furry family members in Halloween festivities.

Social media plays a vital role in the generation of unique costume ideas, especially among the younger demographics. For instance, 62% of Gen Z respondents look to social platforms for costume inspiration, a figure considerably higher than the 29% among the total survey group. Additionally, pop culture trends guide 39% of Gen Z's decisions, compared to only 24% overall. Interestingly, 20% of Gen Z participants also utilize artificial intelligence for brainstorming costume concepts, with a significant number aspiring for their costumes to reflect current events or viral moments.

Strategic Preparations Can Alleviate Seasonal Financial Strain

As Halloween approaches, many consumers are wise to start their preparations early and seek cost-effective ways to celebrate. CIT Bank offers online savings accounts and certificates of deposit, encouraging customers to set aside money for seasonal festivities and longer-term financial goals. The findings from this survey highlight a new era of Halloween spending—one that embraces creativity while navigating financial responsibilities. Further insights into these spending behaviors reveal the evolving nature of holiday budgets and the excitement surrounding Halloween.

Methodology

The survey was conducted by Researchscape International using an online method that collected responses from 1,065 U.S. adults aged 18 and older between September 8-11, 2026. Results were weighted to align with the U.S. population's demographic distribution. The credibility interval for all responses is ±4 percentage points, emphasizing the significance of these findings.

About CIT Bank

CIT Bank functions as a division of First Citizens Bank, one of the leading online banks in the U.S. with a robust foundation. It's FDIC-insured, offering competitive savings accounts and CDs that help individuals grow their savings for various celebrations, holidays, and adventures alike. To delve further into their offerings, visit CIT Bank.

About First Citizens Bank

First Citizens Bank is a top-tier U.S. financial entity devoted to empowering consumers and businesses in achieving long-term financial security. It pairs the strength of a large institution with the personal touch of relationship-driven banking, serving customers nationwide. With over 125 years of expertise, it delivers tailored solutions across many financial sectors, making it a reliable partner in its clients' financial journeys.