The holiday season is upon us.  The season brings many festivities, gatherings, travel, shopping, seasonal décor, and gift-giving. For many, it’s not only schedules which are turned upside down during the holidays. It also impacts finances and for some, induces financial stress. The stores are lined with exclusive holiday products; emails are clogged with special promotions, commercials promote the seasons best presents and so on. It can be overwhelming to choose the perfect gifts and to pay for them.

The key is organizing yourself and staying on top of your expenses.

Here are some ways to manage holiday finances.

• Set a budget: Create a budget at the beginning of the holiday season for all related expenses, including estimated costs and establish a budget dollar amount. This will reduce the temptation to overspend.
• Plan your shopping and gift giving: Know what you intend to buy and who you are buying for at the onset. Plan your approach with a list of items and avoid impulse purchases to prevent overspending.
• Buy what is within your budget: Don’t overspend by buying items which are above your estimated budget. Consider the impact if you overspend or go into debt?
• Create your gifts: It is the season for gift-giving, but finding the perfect gift can be challenging to accommodate tastes and budget guidelines. Consider giving thoughtful gifts such as crafts, handmade presents, or homemade food, as good options.

With a little planning and creativity, it’s possible to get through the holidays and avoid debt or over-spending. Your expectations about what you can afford should be realistic. Mental preparation is an essential part of the holiday season. The goal is to make the season enjoyable and be more “present” during this time of year.