5 tips to avoid overspending on Christmas gifts

By this time, most of us may be feeling the pressure of finding the best Christmas gifts for our family and friends. And if we do find them, we ask ourselves if we can even afford these items. Even for good savers, the holiday season can still be a burden.

But there is something we can do to avoid this. For me and my family, this is what we have done.

1. Set a Christmas gift budget. Based on our spending from the previous years, we determine how much we want to spend for this year and not a penny more.
   
2. Start saving the needed amount early. We have a family budget for the year so this was as simple as setting aside the needed amount monthly. We reviewed our expenses to find out where we can cut spending and reallocate the amount to the Christmas budget.
3. Lists all recipients and the budgeted amount for the gift. For some, we set aside a budget for a gift to the family instead of individual gifts. When we actually shop for the gifts, we make sure that we don't exceed the allocated amount.
   
4. Window shop. This allows us to get ideas of potential gift items and show us the different options we have for each gift. This also allows us to compare prices and ensure that we get best one.
   
5. Shop early. By doing this, we not only avoid the Christmas rush but also allows us to take advantage of the Sale season (there are several scheduled each year).