Tips for handling holiday financial stress:

Set a budget

Review your earnings and expenses, and then decide how much you’re willing to spend on holiday gifts, food and other items. Consider making a list and assigning each item a specific dollar amount. This will help you overcome the temptation to overspend.

Plan your shopping

Whether you’re headed to the grocery store or braving the crowds at the mall, know what you intend to buy and who it’s for. Sticking to your list will also help keep you from buying unnecessary items and prevent overspending. It’s easy to make impulse purchases with all the eye candy in stores this time of the year, but you won’t fall prey to these consumer tricks when you know what you need.

Get creative with gift giving

You can give thoughtful gifts while spending a fraction of the cost. If you’re crafty, handmade presents are extremely thoughtful. And if you’re lacking in artistic abilities, you can always give the gift of your time. Cooking someone a meal, giving new parents a night out while you babysit, or offering to clean someone’s house are gifts that recipients will love and will cost you nothing.

Remember what the season is all about

It’s easy to be swept up in the consumerism of the season, but remember that it isn’t about money and materialism. Focusing on its religious purpose or enjoying time with your loved ones will keep you from stressing over less important things.

With a little planning and creativity, it’s possible to get through the holidays and avoid debt or wiping out your savings account. And you’ll feel even less stress when you reach January in good financial shape.

Source: nerdwallet.com