'TIS THE SEASON

for spending. Is your wallet ready?

According to the National Retail Federation, the average consumer plans to spend $738 this holiday season, 5.1% more than last year. Now's the time to create a game plan. You don't want to be paying off this year's bills next year, after all.

Sticking to a budget during the holiday season is as difficult as keeping to a diet but with a bit of discipline, it's possible. Start by taking a look at last year's bills, suggests certified financial planner Scott Kays, president of Atlanta-based Kays Financial Advisory. Keep in mind that what you spent last year isn't necessarily a benchmark for what you should spend this year. (After all, most folks suffer a spending hangover come January.) But it should help you remember all those little budget-busters the last-minute gifts as well as those extraneous costs that come with the holidays, like party garb, decorations and tips.

The key, of course, is to know ahead of time how much you can afford for each holiday expense. For help with that, use our savable Holiday Spending Worksheet. Use it to log what you expect to spend on everything from gifts to travel costs and then what you actually spent. The worksheet will keep you up-to-date on how your budget is faring.

Staying on Track
Sure, you might know how much you're supposed to spend. But such goals can be awfully difficult to stick to. Here's some advice.

• Arrange spending limits.

  It's a good idea to settle on spending amounts with the people you'll be exchanging gifts with, says Kays. Gifts tend to become pricier over the years, he says, so before you know it, you're spending $200 on one person when all you can afford to spend is $50. "Tell them, 'I just don't want to spend the money I've been spending,'" he advises.

• Plan your attack.

  Get a few ideas about what you'd like to buy for each person on your gift list before you hit the mall, says Kays. That's easy, thanks to the Internet. Even if you don't want to make purchases online, you can use sites like Shopping.com and Yahoo! Shopping to find sales and average prices for most any item.

• Don't wait until the last minute.

  When the panic sets in and the crowds swell, budgets get chucked out the window. So don't aim to do all of your holiday shopping on Dec. 24. The longer you wait, the more you'll spend.