by Mary Beougher

Created on: December 17, 2010   Last Updated: December 22, 2010

Most people easily live within a budget for eleven months out of the year, but as the holidays approach and the pressures of gift giving take hold, it is very easy to lose track of spending and about how much it’s going to cost you later, especially if you tend to whip out your credit cards. By remembering a few easy tips, it will be much easier to stay on budget through the hustle and bustle of the holidays.

Start a Christmas Savings Account

Instead of using your credit cards and then wondering how you’re going to pay off those balances come New Year’s, starting a Christmas savings account is an easy way to save money. Most banks and credit unions now offer this option to their customers, oftentimes at a higher interest rate than normal savings accounts. They can be set up to have a small amount of money every week transferred to them automatically or you can do it yourself. When the holidays arrive, you will have a pool of money already set aside for gifts. Stick to only the amount in the savings account, and you never have to wonder how you’re going to afford Christmas.

Make a List

Take a cue from Santa and make a list. Write down everyone you plan to give a gift to and a couple of ideas of what to get them. Keep the list with you and updated, so that you’re not overbuying or tempted by impulse.

Utilize the Internet

Shopping online has become as much a staple of the holiday season as gathering in long lines on Black Friday. Cyber Monday is now considered one of the biggest holiday shopping days. Even if you don’t buy into the hype of these big shopping days, using the Internet is a prime way to save money. The first way is to sit down with your list and do some comparison shopping. Sites out there, like Yahoo Shopping, have made this even easier.

All you have to do is type in the item you’re looking for and a list of retailers and their prices appears before you. Another option is to know what stores you’re going to shop at and sign up for their email lists. (You can always unsubscribe after the holidays are over.) Retailers use these lists to send out online and in-store coupons, free shipping codes, and other special deals to their customers. It’s an easy way to get deep discounts.

http://shopping.yahoo.com/

Feeling Crafty

Do you paint, sew, crochet or knit, or are you just really good at following a set of instructions? Sometimes the best way to save money and have a heartfelt gift at the same time is to make it yourself. From personalizing ornaments to etching creams that turn simple glass objects into expensive-looking gifts, the possibilities are endless when it comes to creating the perfect gift yourself. Supplies for these types of gifts are relatively cheap, and, if you already craft, then you may not have to buy anything! The recipient of your gift will appreciate the time and effort  you put in as much as if you'd spent a lot of money.

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