Halloween spending to total nearly $7 billion

A new study indicates that parents have spent a considerable amount of money for Halloween revelry, buying such things as costumes, decorations and candy.

According to the National Retail Federation, total spending for Halloween this year is expected to reach close to $7 billion, up 18 percent when compared to last year.

Etta Money, president of a credit counseling organization, said this kind of spending can put a strain on consumers who are already in debt.

"Seventy percent of those asked in the NRF survey said they plan to celebrate Halloween in some way, and the average person will spend $72.31 on decorations, costumes, and candy," said Money. "If that Halloween spending is planned as a credit card expense, people need to seriously consider the many less costly ways to enjoy the event."

Occasionally, those using credit cards may see their credit scores slip if inaccurate marks are made by creditors. Checking to make sure credit report information is accurate can help consumers avoid potential financial pitfalls.