Although your intentions are good, you are likely to overspend again this holiday season. You probably know you should set a holiday budget, and you may have written expected costs next to each item on your shopping list. However, even if you enter the holiday shopping season with a budget in mind, it can be very difficult to stick to it!

In most cases, people tend to rationalize overspending. You and I both know that money is no substitute for love, but may feel the need to spend equal amounts on each recipient to avoid the impression of favoritism. Or we feel pressured to spend a certain amount of money because we were especially generous last year. Before you start shopping, have a family meeting, so everyone will know what to expect.

Start fresh, and take your current financial situation into account.  Nothing you could buy feels as good as starting the New Year in the black.

Here are 5 tips for a Debt Free Holiday Season:

1. Budget Everything – Not Just Gifts

If you want more joy and less stress this holiday season, create a holiday budget that includes decorations, cards and stamps, food for parties, holiday clothing and dry cleaning costs, babysitting, teachers' gifts, and year-end tips for service people. Gifts are only one line item, and they may not be your biggest expense.

2. Spend Time, not Money

Parents tend to make costly decisions when they're rushed. Plan a family trip instead of buying gadgets. You'll treasure shared memories long after today's technology is obsolete.

3. Leave the Credit Cards at Home

Leave credit cards at home to avoid overspending. Studies show people spend about 15 percent more when they pay with credit cards. If you must use a card, carry only one.

An even better idea is to bring cash! Maximize savings by carrying large bills, not a pile of ones, fives and tens. You'll be less likely to break a $50 bill to buy a latte or a silly stocking stuffer.

4. Write Down Each Purchase

Often, we don’t realize how much we are spending as we shop through the mall.  Take the time to write down each purchase as you make it.  This will force you to think before buying that extra little item you see.

5. Don’t Buy Gifts for Yourself

Try to avoid the “One for thee, and one for me” mentality. According to the National Retail Federation, shoppers spent an average of $108 on themselves last year. When you see something you like, write it on a wish list. You'll be ready when your spouse and kids ask what you want, and they will be happy to buy something you'll really enjoy.

Focus on having fun and making memories, not on buying more stuff this season. When you do, you'll make your family rich in the ways that really count. The true holiday spirit is in your heart and your home, not at the mall.

Only 10 shopping days left until Christmas!  It's not too late to make your list and check it twice. But if you are planning to credit cards to buy your gifts this year, you will pay a lot more than you bargained for.

Sometimes, using your credit cards is a necessary evil.  If this is the case for you, a good rule of thumb is to not put more on the cards than you can pay off in ONE MONTH!  According to ecomerce-guide.com 52% of Americans plan to spend $500 or more this Holiday season.  I don't know about you, but I'd have a hard time coming up with that much to spend out of my budget for one month. 

Use these tips to ensure that you keep your spending under control and have a DEBT-FREE HOLIDAY!

Tip #1: SET A HOLIDAY BUDGET

Before you head out to the mall, decide exactly how much you can afford to spend.  Try to allow a small buffer just in case.  Make a list of each person you need to buy for and allocate a set amount of your Holiday Budget for each person.

Tip #2: Make a List

Just like Santa, you need to make a list! Write down each person you need to buy for and allocate a set amount of your Holiday Budget for each person on your list.  Don't forget gifts for teachers and office party gift exchanges.

Tip #3: Don't Sign Up for a Store Credit Card

The discounts offered for signing up for a store credit card often sound like a good idea.  However, these store credit cards often come with unreasonably high interest rates.  If you can't pay off the balance in full, the interest will cost you far more than what you saved by opening the card in the first place!

Tip #4: Shop Online

Shopping online allows you to easily compare prices from many different companies from the comfort of your own home.  There are no pushy sales people there to talk you into spending more than you planned, so it is much easier to stick to your budget.  Also, always remember to search for a coupon code or promo code before you make any online purchase.  You can almost always find some sort of additional discount when you shop online.

If you do shop online, shipping costs can really add up.  Keep an eye out for free shipping promo codes or check out freeshippingday.com where a huge list of online stores offer free shipping on December 16th!

Tip #5: Re-Evaluate

Since Christmas is right around the corner, you may have already purchased most of your gifts.  If you have already overspent, don't hesitate to re-evaluate your purchases.  You can return any excess gifts or exchange them for more budget friendly items.  Also, keep an eye out for last minute Christmas sales.  Stores often discount items right before Christmas.  If an item you have already purchased has gone on sale, consider taking it back to the store for a price adjustment.

If you follow these 5 Last Minute Shopping Tips, you will have a less stressful Holiday celebration.  When you stick to your budget, you can relax and celebrate with your family and friends in peach without worrying about the bills to come in January!

Happy Holidays Everyone!