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).

Following is a Christmas checklist that will help you create your budget:

** Consider the expenses that are likely to come. A good way to forecast this year’s Christmas expenses is to review last year’s total expenses. Go back and look at credit card statements, your checkbook register or receipts from last year (if you saved them). This will give you a round about figure for you to start with as well as give you an idea of what you want to do this Christmas.

** Consider all expenses outside of gift giving. Everyone has different priorities. Will you be entertaining? Will you be decorating? Taking a family trip? Giving out Christmas cards (don’t forget postage)? Will you be wrapping presents or bagging them? Take a look at where your big expenses are and think creatively to reduce costs.

** GIFTS. Start by taking a tip from good old Saint Nick, make a list of everyone you’ll be getting a gift for, you can check it twice if that is your preference. Consider how much you think you can afford to spend on each person. After totaling the amount, does it fit within your budget? Is there a group within your list that you can organize a gift exchange with?

** Window Shop. Once you have your list put together consider comparing prices. With Internet technology window-shopping can be as easy as clicking a button. Make note of the gifts that you find for each person. This will give you an idea of what you want to get for each person so that you are not shopping blindfolded when you walk into a store. Also remember that homemade or personal gifts can help reduce costs considerably.

** Start shopping. Just having a complete list should save you time and money for the holiday season.

Following are tips to help lower costs:

** Don’t wait until the last minute to do your Christmas shopping. Often, waiting till the last minute will force you to buy anything, no matter what the cost is.

** Avoid using credit cards. With the right budgeting you can avoid those interest rates and keep the interest expenses down.

** When your gift list is complete, QUIT shopping. A little something extra can put a big something in your wallet later.

With the holiday season upon us, there is no time to wait, devise your plan now and enjoy your holiday season. If you want to make sure you don’t get caught up in the holiday frenzy, that is Christmas, you can follow these handy guidelines to start. Also, you can ask Ms. B if you need some gift ideas.