Here are 7 ideas:

1. SET A BUDGET.

You must decide how much money you want to spend. Think through all the different aspects of holiday shopping: gifts, travel, food, decorations. Divide your budget into the different categories.

2. BE AWARE OF RETAIL TRICKS.

If merely creating a budget was the only thing needed to keep us within our spending limits, we’d be all set—not just for the holidays, but for life. Unfortunately, this is rarely the case. Even with budgets firmly established, many of us overspend. One reason this happens is because retail stores are shockingly good at getting us to part with our money.

3. LIMIT SELF GIFTING.

One of the most significant holiday trends over recent years is the increase in “self-gifting”—people treating themselves to presents when they are out shopping for others. LImit yourself in this regard.

4. CUT DOWN ON CONVENIENT EXPENSES.

Some of the most hidden costs of the holiday season are “convenience” expenses. Some expenses appear minor but they add up quickly, making you spend more.

5. ESTABLISH EXPECTATIONS EARLY.

If you decide to cut down on the number of Christmas gifts you will be giving this holiday season, it is important to establish those expectations early.

If you intend to take a new gift-giving approach to your extended family, it is helpful to inform them early about your decision and why you decided to make it.

6. TRACK SPENDING.

One key component to wise financial stewardship is to track your spending on a daily basis.

Because of the extra shopping during the season, the importance of tracking your spending during the month of December cannot be overstated. And you do not need fancy software or materials to accomplish this step. It can be completed with a simple piece of paper and pen—at the end of each day, just record the items you spent money on that day. And compare it regularly with the budget you created.

Avoiding overspending during the holiday season may not be easy. It certainly requires extra time and effort. But trust me, your January-You will thank you for it.

Thank you

Nice. Thank you