The holiday season is just around the corner and calendars are already filling up! It can be a hectic time but with a little bit of planning you can focus on the fun, family and festivities.

You may have travel plans, many gifts to buy and parties to attend but the enjoyment can be tainted if you know you’re spending money you don’t have. It can be tempting to swipe the cards and simply ignore the tally.

Wouldn’t it be nice to finish the year without dreading bills that you know you can’t pay? Here are some easy steps to setting a holiday spending plan:

• List the gifts you plan to buy (don’t forget gift exchanges for work, service people and hostess gifts)
• List the parties you plan to attend
• Travel
• Hair, nails and any new clothes
• Tickets, activities
• Cards and postage
• Food, treats and beverages
• Donations

On their own, each of these categories doesn’t necessarily add up to a sum that will break the bank but add them together and the total may surprise you! Once you’ve totaled your planned expenditures, take the next steps:

• Do you have the money on hand?
• Divide it by the number of paychecks you will receive between now & December 31st – can you afford these expenses in addition to your regular expenses?
• If not, review your list and see what adjustments you’re willing to make
• Stuck for ideas how to make it balance?
• Have a chat with friends & family – it’s easy to feel obligated to spend $100 or more on a family member but chances are good, they don’t expect it.
• Choose to go out for dinner with your friends or have a festive meal and drinks at home rather than exchanging gifts.
• Donate time rather than money.
• Select the parties you want to go to and give the ones you’re not sure about a miss.
• Book your travel early or carpool.
• Think of thoughtful, creative gifts such as a ‘movie CD of the year in review’, a story, a song.
• Try to earn some extra cash – Overtime, part time or seasonal work, freelancing.
• Make the hard choices.

This time of year can bring mixed and complicated emotions such as nostalgia, great generosity, anxiety, stress and happiness. It can be an even better holiday season if you can reduce anxiety or stress caused by money.