Money-saving tips for Halloween costumes

LOS ANGELES -- Halloween is just around the corner, which means it's time for spooky parties and costumes. But dressing up can be expensive.

According to a survey by the National Retail Federation, the average person will spend almost $78 this year for Halloween -- up $2.50 from last year.

Here's another frightening thought: consumers spend nearly $3 billion on Halloween costumes alone.

Vera Gibbons, a contributing editor for the money management website Mint.com, said there are plenty of ways to avoid a horrifying bill.

"Some of these costumes are $40, $50, $60. So you want to shop specialty costume sites like Halloween Express or BuyCostumes.com. Right now, BuyCostumes.com is offering a $25 discount for first-time customers if you spend $125 or more," she said.

She also suggests that for popular costumes, such as characters from Disney's hit film "Frozen," that you shop early because those costumes will sell out quickly. Even if your child doesn't want to be a popular character, kids' costume prices can be downright scary.

"(Kids) may want the latest and greatest, but why not shop your closet, shop your kid's closet? Hold a swap with other people in the neighborhood, see what they can sort of lend to complete the overall costume and then maybe pick up a couple of inexpensive accessories," Gibbons said.

Another tip she offers is that traditional costumes, such as a pirate or cat, can be purchased online through eBay or Craigslist because manufacturers rarely change the costumes.

But if you want really monstrous savings for next year, Gibbons suggests waiting until the day after Halloween when costumes can be discounted as much as 80 percent.

So whether you decide to be Captain America, Medusa or a scary clown, there are ways to save some cash.