The witches, skeletons and ghosts come out to play on the last day of October every year. Halloween has become a fun and freaky tradition over the years, for both young and old. According to the National Retail Federation, most people spend around $104 each celebrating the occasion. Almost half of those polled said they started shopping before October. They’re mainly forking out money on candy, home decorations, and of course, creative costumes.

"For the exteriors of their homes, Americans often spend on Halloween-related items such as pumpkins, lights, inflatables, and themed decorations that create a spooky atmosphere," said Wallethub’s financial analyst and writer, Chip Lupo during our interview. "One key statistic worth noting is that 52% of people plan to decorate their homes for Halloween, which makes it an integral part of the holiday’s projected $11.6 billion in spending for 2024."

Lupo added that consumers should watch their spending carefully in the run-up to Halloween. "It’s wise to prioritize purchases that bring the most enjoyment while avoiding unnecessary splurges for expensive items such as single-use costumes," he said, adding that DIY options for costumes and decorations can help save money. Lupo suggests that people stick to a budget so that "the fun of Halloween doesn’t turn into financial stress."

According to the expert, many people fall into the trap of wasting money on Halloween. "Pricey store-bought costumes, especially those with face-covering masks that children often discard because they’re uncomfortable are among the biggest Halloween money-wasters," he said.

He again stressed that making your own costume at home with materials you already have not only costs less, but allows for more creativity and family bonding. "Other common money-wasters include excessive decorations or items that are only used once and discarded, such as intricate inflatables or expensive themed décor that doesn’t get reused," added Lupo.

Halloween is meant to be a night of fun but it does come with risks. "One of the biggest concerns is child pedestrian safety, as Halloween sees a fourfold increase in pedestrian fatalities among children," cautioned Lupo. He suggested that parents dress their children in reflective clothing, make sure they stick to well-lit areas, and stay in groups. "Adult supervision is crucial for younger children," he said.

Another risk is fires. "790 Halloween-related fires cause an estimated $14 million in property damage every year," revealed Lupo. "Using battery-operated lights instead of candles in decorations, especially in pumpkins, can help prevent accidents."

And of course, in this day and age, parents might want to inspect their children's candy to ensure it’s safe to eat. Lastly, Lupo warned those celebrating to practice common sense. "With 45% of Halloween night motor vehicle deaths involving drunk driving, it's important to plan for sober transportation when attending parties. Taking these steps will help ensure a safe and enjoyable Halloween for everyone."

If Google trends are anything to go by, the most popular Halloween costume of 2024 is going to be the Beetlejuice Shrunken Head Bob. But the number two spot might come as a surprise. People are apparently scrambling to dress up as none other than the Australian breakdancer, "Raygun". In case you missed it, Rachael Gunn, who goes by the stage name "Raygun", almost broke the internet with her Paris Olympics routine this year.

As the BBC reported, the 37-year-old university lecturer failed to score any points in all three of her competition rounds in Paris, “with a routine that included unorthodox moves, such as the sprinkler and the kangaroo hop.” There were memes aplenty following her performance. And some even accused her of making a mockery of the sport. Nonetheless, "Raygun" was controversially ranked the world's number one breakdancer in September this year. And we should expect to see many versions of her walking (or hopping) the streets come Halloween.

The third most-wanted Halloween costume this year goes to “Catnap” from Poppy Playtime. "Poppy Playtime" is a horror game of survival set in an abandoned toy factory. So it’s not too surprising that the characters are a hit for Halloween enthusiasts who are planning to dress up on the night.

The National Retail Federation says America’s total spend on Halloween costumes this year looks set to total $3.8 billion. Like last year, adults are spending more to look the part, with an estimated total spend of $1.8 billion. Kids costumes come in at around $1.3 billion. The Federation’s research also revealed that 76% of adults already know what they'll be transforming into when they celebrate the occasion.

When it comes to what people will be wearing, the NRF’s findings were a bit different to the Google trends results. Most of them (5.8 million) plan on dressing up as a witch. 3 million are taking inspiration from shows like "Twilight" and want to turn into a vampire. Other popular grown-up costumes are a cat, Batman or a pirate.

The NRF says 2.6 million kids are going wild for Spider-Man. 1.8 million will walk the streets as a ghost. 1.7 million are toning down the terror, and have decided to go trick-or-treating dressed as a princess. We can also expect to see lots of little witches, and mini superheroes.

Fido isn’t missing out on the fun either. The NRF says the most costumes for pets include a pumpkin, a hot dog, a bat, a ghost and a bumblebee. If you're still unsure about what your furry family member will be strutting this year, we've gathered some inspiration for you right here.

When it comes to decorating their homes and gardens, Americans aren’t holding back. One Massachusetts man made headlines earlier this year with his elaborate “house of horrors”. While most people start decorating their space a few days or weeks before Halloween, Billy Gridley has been at it since August.

"My son and I have an advent calendar counting down the days (to) when we start decorating for Halloween," revealed the dad. "I started putting this up the last weekend in August. I use September for my decorating, so by the time it's October 1st it's 90%, if not all, done." Gridley has been into his displays for many years but said he became a bit obsessed after the birth of his son in 2015.

Gridley’s house is no doubt the spookiest on his street, and it pulls crowds every October. The dad claims he went through 40 gallons of candy last year, with around 200 people rocking up at his door. Not one to disappoint, he goes all out. And we aren't only talking about decor.

Gridley's doorbell camera alerts him when anyone enters his property. "I get a notification if someone is walking through the yard, so I can actually, by push button, activate different animatronics," he said. As CBS reported, the decorations fill his whole home, front yard, and even spill out onto the street.

He has “rigged a solar light to power lights hooked up inside of a sewer drain. The lights illuminate a Pennywise mask hidden under the sewer grate. There is a corresponding animatronic ‘It’ child above the grate.”

We don't expect everyone to be as elaborate as Gridley and some of those featured on this list. But we would love to hear your plans for Halloween. What are you wearing? How have you decorated your home? Or are you planning to skip the celebration altogether? Let us know in the comments.