Deck the Halls without Breaking the Bank: 5 Tricks to Master Holiday Spending

When it comes to Christmas shopping, it is easy to overspend. However, celebration doesn't have to break the bank or leave you maxed out on credit cards with a little preparation and budgeting. Instead of getting bogged down in Christmas spending, make sure you stick to your budget for the new year by using these eight useful recommendations.

1. Limit Your Holiday Expenditure

By only purchasing items that can be securely withdrawn from your bank account, you may give your credit card and your mind a vacation. Take advantage of this chance to develop or update your budget, and use it to determine how much you can afford to spend.

The money that doesn't go toward paying bills is the amount you can afford to give as presents. However, this doesn't have to be limited to the money you have left over at the end of the month if you would want to have a little extra to spend.

Additionally, you may utilize money that you would often spend on other things, like your daily cappuccino. You're doing well as long as you're only utilizing cash (not credit card cash advances) and not using up your rent money.

2. Create Your Own "Nice" or "Naughty" List

You don't have to purchase gifts for everyone on the planet; Santa does. Start reducing the number of persons on your shopping list if it exceeds five who are not members of your immediate family.

After that, prepare some cookies to present to everyone you removed from your first list of gifts. By doing this, you'll be sure to share seasonal happiness and avoid coming off as gloomy.

3. Keep Your Budget in Check and Be Realistic

Five years ago, your elder brother paid off his college loans, and he's constantly getting you the most expensive gifts. Don't feel obligated to follow suit, though, if your financial situation is different.

If you are unsure if the people on your list would value the less costly gifts you purchase for them, consider the gifts your friends and family gave you when their finances were more limited. If you're not piling up debt for each other this year, there's little question that you'll both be better buddies come January.

4. Give Your Time as a Gift

You never know who might enjoy a visit from far-off family and friends more than your parents. An additional thought?

Draft a "free night of babysitting" or "good for a home-cooked meal" certificate to give to your uncle who is widowed, to be utilized at a later date for relatives and friends with little children.

5. Give Personalized Presents

A simple, well-considered present is more valuable than a costly one that the recipient would never use. Start the holiday by considering what the people on your list could truly use, and resist the urge to spend at fashionable boutiques.

For instance, you might spend less than $10 for a basic pastry tool and a copy of a tried-and-true recipe for your sister if she enjoys baking but struggles with producing handmade pie crusts.