Towards the end of the year, many people all over the world start to get excited about the approaching holidays.
But for most people, this excitement is mingled with stress, mainly due to the heavy expenses that inevitably comes with the holidays.
With all the gift-giving, entertaining, and decorating that has to be done, Christmas time is arguably the most expensive holiday of the year.
However, you don't always have to suffer financially because of these expenses.
If you can plan early and make your budget properly, you can enjoy the holidays without feeling the strain on your pockets too much.
Determine Your Budget Based on your regular income and the current state of your finances, you should be able to determine how much or how little you can afford to spend during the holidays.
After you've set a holiday budget, make sure you'll still have enough left to spend on your regular expenses.
Keep in mind that the holidays need not be extravagant.
You can enjoy the season even if you have little to spend; you just need to be practical and creative.
Create a Gift List Write down every person you plan to include in your gift-giving, and indicate the price range that you're willing to spend on each person.
This will give you a better idea of how much you need to allot for your total budget for gifts.
Be Flexible You may already have an idea of what gift to give to each person on your list but you should also be open to the idea of making changes should your financial situation change as Christmas approaches.
For example, if you overspend on a particular person, you'll need to reduce expenses on the other people in your list so you won't go over your total budget.
Limit Your Recipients Sure, you'd love to give presents to everyone you know, including the neighborhood kids and your children's classmates.
However, you have to remember that you're not Santa; no one is expecting you to give presents to everyone you know.
If you can't resist spreading the Christmas spirit with gifts, look for inexpensive items such as small candy bags and keychains that you can give away without hurting your budget.
The Gift of Service Rather than handing out a bunch of generic gift cards, try making a personal connection with your dearest friend through the gift of service.
A day of house cleaning conducted by you.
Full car detailing inside and out.
Two hours of weeding and yard work.
All of these personal services can be performed by you for very little to no out of pocket money for you the giver.
The recipient gets a much needs service that like costs hundreds of dollars.
More importantly, they get some quality time with you - the gift they really want.
Do Your Christmas Shopping Early It may be too late this year, but plan ahead next year by not waiting for November or December to begin your Christmas shopping.
You can start shopping for Christmas gifts as early as August or September.
When you shop early, you won't feel the financial and emotional stress too much as the holidays approach.
If you come across a sale in the mall, look for items that will be great to give as holiday presents.
Keep them stored in your closet until it's time to wrap them for Christmas.