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The holidays are expensive and it's easy to get stressed. There are presents to buy, gifts to wrap, parties to attend and dinners to host. With the economy at an all time low, your budget is sure to be tight. For great tips on reducing your holiday expenses, see my list of ideas below.

1. Bake your own treats- Instead of purchasing store bought treats trying baking your own from scratch. You may already have some of the ingredients at home. Create memories and teach your kids skills!

2. Rent or borrow- Instead of purchasing all your holiday needs, you should considering renting or borrowing. Tables, chairs, place settings and decorations are all things you can rent from a store. Borrow cookware or stemware from family and friends. You don't have to buy it all new!

3. Make a list- Before you go shopping for holiday presents, make sure that you make a good list. Fewer trips to the mall will save you on gas. You're less likely to make impulse buys!

4. Wrapping ideas- Re-using your gift bags is a great idea. They're usually in good condition. Make your own gift bags with cloth and a drawstring. They work great when your family visits!

5. Dinner ideas- When you are hosting a dinner ask your guests to bring the salad, dessert or wine. Invite friends over for coffee and cake instead of a big fancy meal. Buying packaged veggie and fruit trays wastes money. Buy supplies and prepare them at home!

6. Dollar Store- When you are holiday shopping try the Dollar Store. You may be surprised what you find. Pet presents, kids toys and party essentials are sold at a discount price. You can also find cards, wrappings and treats. They have great stuff to use in your stockings!

7. Homemade presents- Don't give your kids money to buy you a present. Have them make you something themselves. Paint a picture, knit a scarf or crochet a blanket. Splice your plants and buy a nice pot!

8. Combination presents- Buy presents for a family instead of each person. This really helps cut down your costs. A board game is something a family can share. Try theater or restaurant gift cards!

9. Save presents- Try to limit presents to holidays and birthdays. You can buy gifts and store them away. Family portraits and school photos can be framed for Christmas. Vacation gifts can also be saved!

10. Re-gift exchange- A re-gift exchange can work great for your colleagues. It's cheap and fun entertainment. Look at home for weird gifts that were given to you. Wrap them up and pick something new!

The holidays can be an expensive time. Don't make purchases you can't afford. Alternate which functions you attend each year. Make your presents or even the gift bag. Rent supplies, use the dollar store and count that loose change. Start planning; the holidays are coming!

Learn more about this author, Tammy Lee White.
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