If you haven’t already thought about or planned out a holiday season budget, today is the day to start. While some may think a budget is frugal, these are the same people who suffering from the January hangover, a.k.a. Christmas rollover expenses.

The major expenses for the Christmas holiday can include gifts, decorating, entertainment, food, wrapping and cards. A budget will help you consider what you will need; whom you will give presents to and helps you plan ahead for Christmas festivities (if you choose to entertain).