If you know what you want to get someone, look for it online. By checking several sites and local stores, you'll know what it costs usually and when a sale is a good deal. Don't be afraid to save the receipt in case it does go on sale cheaper closer to Christmas. Most places let you return unopened items within 90 days with a receipt.

The best way to save money at Christmas is to know what you're going to spend. I opened a Christmas Savings account with my credit union. This special account can't be touched until October (fees apply if you withdraw early) – and then the fund are transferred to my “primary share” – my regular savings account.

By taking what I want to spend on my family and friends at Christmas and dividing by 12, I know how much I should put in the account each month. Knowing how much I've set aside for gifts helps me stay with a budget when it comes time to buy. (This works for birthdays and anniversaries, too! Keep envelopes in a special place and put a little aside all year.)

I love stores that price match. If Target's out of a DVD on sale, I can run over to Best Buy or WalMart with the ad and get it while it's on sale. (I hate rain checks – they get damaged or lost.)

Don't forget to shop after Christmas! If you're not going to see someone until New Year's, watch for after the holiday sales. It's also a good time to pick up decorations and box greeting cards for next year.

Also, some people might value your time more than another trinket they have nowhere to put – ask if you can help with Christmas chores like wrapping or decorating, bake cookies for the co-workers instead of buying each a small gift, take kids caroling or help at a food pantry as a family. Warms your heart better than any ol' blanket with sleeves.

Post edited 4:42 pm – December 21, 2011 by LindseyL

Here are mine!

1) Save little by little all year for Christmas

2) Use a cash envelope system and/or a spreadsheet to keep track of your spending.