1. Set a spending limit (Budget): Decide on a reasonable amount to be spent on gifts and holiday extras and STICK TO IT! Track your spending. As you shop, write down what you spend. This will help you keep within, your budget.

2. Make a list: Make a list of the purchases you need to make and stick to it. This helps set priorities. Without a list you buy impulsively and may end up with over priced unnecessary items.

3. Commit to cash: When possible, use cash! Leave your credit cards at home. If you are going to use credit cards, have a plan to pay off within 90 days of the holidays.

4. Shop early: Don't shop in a rush, when you are stressed or pressured for time, it is easy to pick up just any item. Last minute shopping in crowded stores can make you buy impulsively just to get out of the store. Shop early in the day and early in the week.

5. Beware of marketing madness: Don't rush into buying because of an advertised claim of low price. Know what the regular price is before buying an on-sale item. Many stores have major sales after the holiday. Be alert for bargains for next year. Private shopping nights are marketing tools to get you into the stores, they tend to be crowded and lead to impulse buying. Use flyers and catalogues as a tool to compare prices and quality.

6. Buying for Children: Help your children to make a wish list, this teaches children to set priorities. Talk to them about cost and establish a budget for spending.

7. Grocery Shopping: Make a list of what is needed after going through your cabinets. Keep in mind that items on special may not be an item on your list. Never shop when you are stressed or hungry as this leads to making poor selections and overspending.

8. Be sure to keep receipts: Keeping receipts of credit purchases and tracking expenditures at regular intervals helps to ensure that you stay within your Christmas spending budget. Also check and keep receipts if mistakes occur you will need the receipt to help in correcting them or to make returns or exchanges.

Practical Inexpensive Gift Ideas

1. Give from the kitchen: Fudge, cookies, cakes, bread and jams make terrific gifts. Make in large batches to save time and money on ingredients.

2. Give the gift of time and attention: It's true, it's the thought that counts. Give coupons promising to provide a service or a special outing. Give a handmade coupon promising a special homemade dinner, a trip to a favourite place, washing dishes, babysitting or whatever would mean the most to your loved ones.

3. Use your talents: If you do woodwork, knit, sew, gardening or enjoy crafts, make gifts that showcase your talents.

4. Consider nearly new: Grandparents can pass on some family items with a short written history attached to make for treasured gifts. Visit house sales and other secondhand stores for unique gifts that don't cost a lot of money.