Tips for savvy holiday-season spending

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• Determine the total amount you can spend and don’t go over budget.

• Simplify gift giving. Ask people what they want and need. You'll be able to choose more wisely from their lists than your perceptions.

• Go to a nearby shopping mall with your shopping list in hand. Don't succumb to impulse buying.

• Make holiday dinners a potluck. Have family members bring their own special dishes.

• Give a family gift all can enjoy, such as subscribing to a high-quality magazine everyone will read.

• If someone gives you a gift you don’t like or need, save it to give as a gift later on. Ensure that you don’t accidentally give it back to that person.

• Ask family members to set a price limit on gifts. Insist everyone stick to the agreement.

• If you're stuck for ideas or cash, consider giving your time as a gift, including free babysitting, house cleaning or lunch out every few months. Elders in your family would be especially appreciative of help around the home.

• Consider giving gifts to children only, eliminating adults on your list, or give adults inexpensive gifts such as a box of chocolates.

• Make up a budget and don’t spend more than you can afford to pay back within one month.

• Buy your holiday gifts all year round. It saves you spending more than you have to in December.

• Shop early for the best price and selection and to avoid hefty January bills. Some retailers raise their prices closer to the season and others may be out of what you want. This is especially true of children’s toys.

• Pay bills ahead of time or add an additional 20 per cent to each bill a few months before the holidays. You'll be grateful for the decreased financial pressure when December arrives.

• When the credit card bills come in, pay off the maximum you can afford, not just the minimum.

• Make your own personalized gifts—jam, gourmet vinegar or wardrobe sachets are easy and don’t take too much time—or visit craft fairs.

• Give donations in a family member or friend’s name to a charity of their choice.

• Shop at thrift or discount stores, garage and yard sales for holiday gifts, decorations and craft materials.

• Entertain at home or hire a caterer instead of going to a restaurant.

• Stock up on non-perishable food items—don’t forget the food bank—to avoid holiday mark-ups.