Halloween spending might not scare you, but the costs of candy, costumes and decorations can add up quickly.

In fact, the Retail Council of Canada has previously said that Halloween ranks second only to Christmas in terms of sales. The RCC estimates Canadians spend approximately $1 billion on Halloween each year, surpassing the U.S. on a per capita basis.

But families don't have to break the bank every Oct. 31. Here are five ways you can save money this Halloween:

Make your costume

Some people love to be a little terrified at Halloween, but there’s no need for shock and horror when it comes to paying for costumes. Store-bought costumes can be expensive, and most kids and kids-at-heart only wear the outfits once.

The best way to be thrifty when it comes to costumes is to make your own. Not naturally crafty? This time of year, many bloggers and YouTube stars share easy, step-by-step DIY tutorials online.

Becky Wright and Kesley MacDermaid, the stars of the YouTube show "The Sorry Girls," shared some do-it-yourself tips on CTV's Canada AM last week. Watch their segment for tips on creating custom outfits from scratch.

Compare prices before buying candy

Collect flyers in the weeks before Halloween, watching for which stores have the best deals. Then you may be able to take advantage of stores’ price-matching policies to get great deals, without having to visit multiple retailers. The best prices for trick-or-treat-worth quantities of candy are often found at warehouse stores, where buying in bulk can yield some savings. If you plan far enough ahead, online businesses like Amazon and CandyWarehouse.com may have bargain prices you won’t even have to leave home for.

You can also get name-brand, bite-sized candies at most dollar stores cheaper than grocery stores. Then, when it’s time to dole them out, just open one bag or box of candy at a time, so you can return any excess you don't end up handing out.

Be conscious about the type of candy you're buying too, as chocolate is generally the most expensive of treats.

Search for free events

Look online ahead of time for free events offered during the week of Halloween. Some attractions, like the Toronto Zoo, offer free admission for children in costume.

Others use the spooky season to encourage donations. The BC Forest Discovery Centre in Duncan, B.C. lets visitors pay for admission in blood -- those who have donated blood get a free ticket to ride on its Halloween train. Calgary's Thrill the World zombie flash mob is free, but bringing a non-perishable food donation is encouraged.

Wait to buy a pumpkin

Most pumpkin patches offer deals at the end of the season, in an effort to sell them off ahead of Halloween. Waiting to buy your pumpkin until Oct. 30 can translate to deep discounts.

If you can't wait until the last minute to make your pumpkin purchase, at least wait until Halloween day to carve it. Pumpkins are prone to rot, and if you carve yours early, you may end up having to replace it.

Get decorations at the dollar store, or off-season

Stock up on arts and crafts supplies at your local dollar store, and browse some blogs for simple ideas, then enlist the help of your kids or friends to turn those ideas into spooky decorations.

If you're really thinking ahead, buy your decorations for next year when they go on sale the day after Halloween. Look for quality items that will survive storage, then pack them away until Halloween rolls around again.