I'm trying something totally different this year. I'm buying a $50 gift card each month. I will then use those to purchase all my Christmas gifts in December. Figured it's smarter to spend an extra 50 bucks each month instead of a ton in December. Wish me luck!

That is a really great tip. I've always started saving out money around February until early November for all my Christmas gifts, but not for the food part of it. I think this is something that I will have to start including into my Christmas budget a little early since I spent around $400 this year on baking supplies alone!

It seems like the best approach is one which fits your lifestyle, finances and personality - whether that is saving all year, buying early or not spending much extra at all. I have two friends who plan ahead by buying a couple of extra food/household essentials each week, so by December comes they don't have to do the regular monthly grocery shopping, which frees up cash for festive treats and presents.

Great approach and you keep things sane and on budget!

I start shopping in June and get most of it done by October. My husband is the only one who uses a credit card for Christmas presents, but that's only because he doesn't want me to see where he's shopping for me. He uses a rewards card and I tell him how much he can spend and then we pay it off in January.

Great approach ... hadn't thought of it before!

I like the suggestion of buying all year 'round, though I'd have a hard time buying a gift for someone in March and not actually giving it to them for the next nine months! Personally, I set money aside in my PayPal account throughout the year. Then I don't have to budget for Christmas with money earned in December that really needs to go towards December's bills.

Thanks for the reminder! Well said!

Christmas isn't supposed to be about spending, but about giving and sharing with loved ones. Much of the stress and anxiety is caused by people trying to out-do each other with gifts and other aspects of their celebrations. They lose sight of the fact that Christmas is about celebrating Christ.

We shop all year round for Christmas (and other gift occasions). Between coupons, both online and off, and shopping clearance sales, we generally manage a good Christmas without ever breaking the bank. This can take some planning the first year that you do it, but it saves a ton of money.

Let's share tips and strategies for how to manage festive spending and avoid debt without having a miserable holiday. I know I am as guilty as the next person of going over the top, despite good intentions.