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It really depends on your budget and if the money spent is worth the fun you think you're going to have.
You may be able to talk some of your friends into cost sharing, like for the limo. That can be a great way to hit a few parties and not have to worry about parking, drinking vs driving, or losing people in traffic. And if a few friend pitch in, the cost can be fairly reasonable for a one night special treat.
You may be able to get a deal on hair and makeup at a beauty college, or you may even have a talented friend who'd be willing to be to do these services for a lot less expensive than a pro.
Halloween is one of those occasions that is very different for people. Some pay it no attention at all, and some see it as their one day a year to go all out into fantasy worlds. How it fits into your life right now will greatly affect how much you're willing to dish out to make it memorable. Just don't put yourself into debt, instead work on setting up a budget now, saving up for it, and then spending it to get the most for your money.
And if you're going to go all out, don't forget to take lots of pictures. Nights like these don't come around often. If you have a talented photographer of a friend, maybe they can agree to be your paparazzi