Shoppers, Are You 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.