When you’re buying presents for loved ones, your excitement and appreciation for them may lead you to overspend. While showering loved ones with lavish gifts is tempting, it’s important to ensure that your holiday spending doesn’t interfere with monthly payments such as credit card bills, personal loan installments, and utility expenses. With the following tips, you can keep your spending in check and avoid financial stress and buyer’s remorse when the holidays are over.

Make a list of what you need and prioritize

Don’t go shopping without a plan! Start with a list of all the people you want to buy gifts for and the items you want to purchase. Allocate a specific amount of money for each person or gift and determine which purchases are high priority. A little planning and organization ahead of time can help you avoid impulse purchases and increase the chances of finding the perfect gift for each recipient on your list.

Shop early and look for deals

Leaving your holiday shopping to the last minute is an easy way to make the task more stressful and expensive. Create your gift list a couple of months in advance and keep your eyes open for any sales and discounts. If there are certain brands or companies you know you want to buy from, sign up for their newsletter or track their social media pages so you can keep up with any sales or promotional discounts.

Try your hand at DIY or homemade gifts

The cost of store-bought gifts can add up quickly, especially when you have many recipients on your list. Tap into your crafty side and consider homemade or personalized gifts. Whip up a batch of gingerbread cookies and package them in a pretty jar or hand paint a design for your loved one on a mug. A DIY gift can be equally as effective at conveying your affection and appreciation without breaking the bank.

Consider an anonymous gift exchange

You’ve probably heard of gift exchanges like Secret Santa, where everyone in a group picks a name out of a hat and purchases one gift for their recipient. This reduces the spending expectations that usually accompany holiday gifting and can be a fun tradition for your friend group or family. In some anonymous gift exchanges, each participant tries to guess who their Secret Santa was based on the gift they received. This adds an extra layer of fun to the tradition.

Remember that the holidays are about spending time with loved ones and creating meaningful memories, not about overspending on gifts. Follow these tips to enjoy the holiday season without breaking the bank.