Frightening Finances: 2 in 5 People Say Going Into Debt for Halloween Is Worthwhile

Halloween isn't the only spooky thing around these days — money problems are scaring people, too. WalletHub surveyed 250 people to find out what they thought was scary this Halloween when it came to money. While just 1 in 5 were willing to go into debt spending on Halloween in 2023, the number bumped up to almost 2 in 5 this year. The other answers to the survey might surprise you — or send chills down your spine. 

WalletHub asked if people had nightmares about money problems. A shocking 64% said yes, while just 36% said no. And that's not taking into consideration whether people were worried about money but didn't wake up screaming about it. 

When asked how fearful people were about the current economy, the answers were pretty scary. Almost half (46%) considered themselves very fearful. Almost as many (45%) admitted they were somewhat fearful. Just 9% said they were not fearful at all.

While some people felt it was okay to go into debt (37%) spending on Halloween, 63% didn't want to wear out their credit cards. But still, it's important to note that almost 2 out of 5 are fine with it, an uptick from last year.   

When asked if they were spending more or less on Halloween this year, the split wasn't the same as the number of people who don't want to go into Halloween debt. While 57% said they'd be spending less, 43% of respondents said they'd be spending more. 

When people were asked what the scariest thing was about credit cards, there was a variety of nightmare-inducing answers. The "winner" was interest rates and fees, which was named by 36% of respondents. Overspending was called out by 29%, while fraud was the scariest thing for 17%. Hidden terms were the problem for 12%, while losing the credit cards wasn't so scary after all — only 7% chose that option. 

It turns out that people surveyed by WalletHub have lots of financial fears. When asked what their biggest one was, an unplanned emergency got 28% of the vote, while not having enough retirement savings scared 20% of respondents. Job loss was unsettling for 17%, while fraud addled 13%, the loss of health insurance upset 12%, and poor credit brought up the rear with the issue scaring just 11% of respondents the most.

Asked whether they felt their finances were a horror show, the news wasn't good for those surveyed. The same number of people who planned to be spending less on Halloween this year (57%) seem to be spooked about their finances. Still, 43% answered that they didn't consider their finances a horror show.

When asked whether credit cards were a trick or a treat, it seems more than half of people are not fans of the plastic. Trick was the choice for 64% of those surveyed, while only 36% considered cards a treat. 

The survey asked how respondents would describe the Google results for "best credit cards" – either scary good or scary bad. Surprisingly, 54% said what was on Google was scary good, while 46% declared it scary bad. Maybe they had different search results? 

The last question seems like a no-brainer — but it might be the scariest of all. Those surveyed were asked which they found scarier, credit card debt or haunted houses. Credit card debt won by a landslide with 70%, with just 30% picking haunted houses. Sounds like reason to be scared year-round. 

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