A Nightmare on Elm Street is one of most popular Halloween movies ever made, even 30 years later. Wes Craven’s horror film is a cult favorite, spawning a franchise consisting sequels, a TV series and a movie remake in 2010.

The character of Freddy Krueger, a burnt serial killer who uses a glove armed with razors to kill his victims in their dreams, causing their deaths in the real world as well, still creeps people out. In the dream world, he is a powerful force and almost completely invulnerable. However, whenever Freddy is pulled into the real world, he has normal human vulnerabilities.

While the film was released in 1984, it still continues to be a popular slasher film, and still has people talking. In mid-October 2017, fans began asking if Freddy Krueger was based on a real-life serial killer after a Facebook post went viral:

In October 2014, Craven disclosed that “Freddy Krueger” was based on a scary news report he read — not about a real human murderer.

Regardless of the truth behind the story, Freddy Krueger remains one of the most infamous villains in movie history. So it’s no surprise that it is a popular Halloween costume.

But if your kids are asking to dress up as Freddy Krueger, you’ll be likely surprised to discover the hefty price tag that goes along with a complete costume. Whether you’re looking at retail stores or online, you’ll notice that a Freddy Krueger sweater alone will run you $50.

That doesn’t include the mask or hand either.

So instead, you can purchase this fine knit sweater from $H&M for only $4.99. Your kid doesn’t like crew necks? There is a V-neck sweater at Old Navy for $17.

Or you can purchase this striped sweater in red and blue like this one at H&M and then paint the blue stripes green for $14.99.

For the hand, there is a good deal at Amazon for only $6.78 on sale right now. Or you could purchase a black glove from the dollar store, buy some black plastic knives (sand down the sharp edges), and hot-glue them onto the fingers.

As for the mask, you can either purchase one online if you can find a good deal, like this one at Walmart for $13.73. Or use your handy makeup skills and paint some red lipstick as burn marks instead. Add a top hat from the dollar store, and your child is ready to treat-or-treat!

Who said homemade children's Halloween costumes can’t look store-bought and professional?