Christmas On A Budget: How to Save Money Without Being A Scrooge

With the economy in turmoil and consumer confidence at an all time low, I'm guessing I'm not the only one putting Christmas on a budget this year.

I'm not normally an early holiday shopper (I, um, usually wait until about December 23rd to start my shopping, but that's a whole other hub). But this year, I want to save money on gifts and other holiday expenses, so I'm getting a jump on the holidays and am actually PLANNING for my gifts and other expenses.

Want to learn how to budget for Christmas without being a Scrooge? Here are some tips to help you save some money on gifts and other holiday expenses this year:

This may be the best tip for saving money on gifts this year.

It is expected that retailers will be offering deep discounts and bargains this year thanks to the struggling economy, and much earlier than in previous years. You may not have to wait until Black Friday for those great sales like we usually do.

Regardless of when the sales start, doing your shopping early early will help you plan better and make sure that you don't miss out on any of those deep discounts that we are expected to see from retailers.

Set a budget for the gifts you plan on buying as well as all the extras. Don't forget decorations, wrapping paper, food for Christmas dinne, the cost of shipping packages, etc. These extras really add up, so make sure you include them in your holiday spending budget!

For gifts, write down everyone you want to buy for this year, and set a specific dollar amount for each person. This will really help keep you from going overboard when you find the perfect gift (or two or three) for your loved ones.

If you need to, get your family and friends on board for your budget, so no-one feels left out or that they over or under-spent on someone this year.

Need help creating a budget? You can find a free printable holiday budget worksheet here.

I have a lot of family members that I buy for who live out-of-state, so this will be the biggest money saver for me this year...

If you need to ship gifts to family members who live out of state, do it early! Postage and shipping is usually my biggest expense each year, because I wait til the last minute to buy and ship these gifts.

This year, I'm shopping for out-of-state family members first, so I can mail them well in advance and avoid those inflated Christmas shipping fees. I may also have some gifts wrapped and shipped directly from the retailer if the cost is low enough. There are expected to be some great shipping deals (free shipping if you spend over a certain amount) this year, so I'll be paying special attention to these when shopping for my out-of-state relatives.

A lot of people charge their holiday gifts and get their own gift (big fat credit card bill) in January. Here are some tips to help keep you from having a holiday hangover in January:

- Pay cash for your holiday gifts. It's much harder to spend cash than credit, so this tip alone could save you hundreds of dollars this holiday season.

- If you have to charge your gifts this year, look for low interest rate options. This might be an in-store financing deal, or a credit card with a low introductory rate. Just make sure you pay the debt off before the higher interest rate kicks in.

- Avoid signing up for store charge cards just for the discount. This generally costs more in the long run because of high interest rates and other fees.

- Purchase wrapping paper, holiday cards and other decorations right after the holidays. Seasonal items are usually offered at deep discounts after the holiday, and they never go out of style. You'll thank yourself next year when you cut your holiday budget in half!

- Finally, start a Christmas fund in January for next year's shopping. Many credit unions and banks offer special accounts just for this purpose. This will make next year's holiday spending much less stressful.