1. Plan before you spend
Don't rely on credit cards – make a list of everyone you are buying for and how much you can afford to spend on each person after your bills and essentials are covered.
2. Stick to your budget
Once you've set a budget, keep track of your spending and you're less likely to overspend.
3. Do ‘family gifts’ or a Secret Santa
If you've got a lot of people to buy for, such as extended family and friend groups, this is a great way to keep the costs down.
4. Avoid 'buy now, pay later'
Tempting as they are, try to avoid these offers from retailers unless you have a plan in place and are confident you can repay the loan within the interest free period. Otherwise, after the 0% phase ends, those gifts could end up costing you far more.
5. Before borrowing, look at where you can cut costs
Be honest with yourself and your family and friends. If you think you’ll struggle to make ends meet this Christmas, let those closest to you know, they will be happy to take a rain check on presents or plan something special together at a later time.
Money problems are nothing to be embarrassed about and they’re more common than you think. Let’s keep talking.
For more tips to avoid a Christmas hangover visit Top tips for Christmas - Citizens Advice (opens in a new window)