The holiday season often puts a strain on finances, but with smart strategies you can enjoy it without wreaking havoc on your wallet. According to a recent Bankrate survey,ⁱ 33% of holiday shoppers said inflation will change how they shop and 54% of said they expected to feel some level of financial burden at the holidays.

A surprising 87% of those surveyed planned to take frugal steps to help save money when holiday shopping. Here are some valuable holiday shopping tips to help you stay within your budget:

1. Establish a budget: Begin by setting a clear holiday budget, considering all your expenses, such as gifts, decorations, and social events. Sticking to your budget is crucial to preventing overspending.

2. Create a shopping list: Compile a list of individuals you plan to buy gifts and allocate a specific budget for each person. Maintaining this list will help you stay on track and within your spending limits.

3. Shop early: Avoid last-minute holiday shopping by starting early. Keep an eye out for sales and purchase gifts when you find them at the right price.

4. Streamline family gifts: If you have a large family, propose a gift exchange where each person buys for only one other family member. You may also consider concentrating on gifts for children or setting a spending cap.

5. Consider gifting investments: Explore gifts that could help improve finances over time, such as a mutual fund or Coverdell Educational Savings account for younger family members. This could provide a year-long learning opportunity for children to gain an understanding of basic investing concepts.

6. Gift thoughtfully: Being mindful of your budget, you may choose to make personalized or homemade gifts. These gifts often hold more sentimental value than more expensive store-bought items.

7. Opt for a simple gathering: Instead of hosting an elaborate holiday dinner, arrange a gathering with appetizers and a signature drink. This could save money and also ease the stress of cooking for a crowd.

8. Leverage online savings: Hunt for online coupons, promo codes and special offers when shopping, many websites offer discounts and cashback opportunities.

9. Avoid impulse purchases: Stay away from unnecessary items displayed in a store’s “extras” section near the checkout. Stick with your planned purchases.

10. Begin saving early: Consider saving for the next holiday season right after this one. Even modest, regular savings contributions accumulate over time and can provide a nest egg for the following holiday.

11. Resist self-indulgence: Refrain from buying gifts for yourself alongside gifts for others to maintain your budget. Also, you may consider reducing attendance at expensive holiday events to help save budget for gifting to others.

By following these tips, you can make the most of the season and stay within a budget that works for you and your family. With thoughtful planning and a bit of financial discipline, you will be able to focus less on financial worries and more on a joyful holiday season.