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We are three weeks away from the largest shopping weekend of the year. And do you know what that means?! It’s time to get serious about your budget! I don’t know about you, but that’s gotta be one of my favorite things do.

In all seriousness, though, you CAN get through this season without putting yourself into debt. Between large family meals, holiday parties, Christmas presents and even birthday presents, the expenses can really add up. Here are some practical steps you can take to come out ahead.

First Things First: Fill Out Your Monthly Budget

There are many methods you can use to determine your budget. You can write it out on a piece of paper, fill it out in an app like EveryDollar or Mint, or you can use a paper budgeting form. Whichever way you choose, be sure that your budget is zero-based, meaning every dollar of your projected income is allocated to one of the categories in your budget. Need help getting started with your budget? Send me an email or drop me a comment below! I’d love to help you!

Set Your Goals For Holiday Spending Right After The Holidays

Decide how many parties you will throw and how many presents you would like to buy, but keep it realistic. Does every friend and family member need a gift? Or would they appreciate some time spent with you instead? Make a list! Include your spouse and your kids in your planning. They can offer you some ideas on what’s most important to them and what they would like to see or do for next year.

Once you know how many, figure out how much. Research the cost of every party supply, every item of food, every gift. Set your spending limits and stick to them as you plan for next year’s holiday festivities. Did you overspend last year? Figure out where and decide what changes you can make to avoid that this year. Most importantly, don’t forget to balance your budget when you include your planned holiday spending.

Set Aside Funds Early

Setting aside just $20 a month gives you $240 to spend for the Holidays. That’s more than enough for a small gift for each member of our family. You can do this through a separate bank account, through a savings program at your bank, or even just a jar you throw your change into.

Obviously, the more time you have to save the more money you will have to spend. If you haven’t set aside funds for holiday shopping already, start now. There are 6.5 weeks until Christmas, so take the amount you would like to spend and divide that by 6. Does that number align with your budget? For example, if I take that $240 I had planned to spend and set that aside over 6 weeks instead of 12 months, I would have to find $40 a week by either increasing my income or trimming my budget.

Avoid Impulse Buys

This goes for anytime of the year, but especially with Black Friday right around the corner. Stick to your list and your budget. It might be painful to watch all those “deals” slip away, but trust me, you won’t miss it when it comes time to watch your friends and family open those gifts you spent time looking for instead of buying in the moment. And your budget will thank you, too. If impulse buying is something you struggle with, I suggest burying your head in the couch cushions for the next four weeks. Just kidding, but it will take some serious willpower to avoid going into debt. I believe in you!

Save Money By Finding Deals and Taking Advantage Of Cash Back Programs

When it comes to items that are on your Holiday shopping list, deals are a good thing. Keep your eyes open for local specials and check online to compare prices at various retailers. Use apps like Ebates to get cash back from hundreds of retailers. And don’t forget to buy holiday decorations right after the holidays when all of those items go on clearance.

Do you have any great tips for saving and spending through the holidays? We’d love to hear about them! Do you need some help getting started with a budget or guidance to get out of debt and experience financial freedom? As a trained financial coach I would be honored to give you a hand. Please email me or drop me a comment below. Happy shopping!