Are you in post-holiday financial shock?

OK, so it's January again and we made it through another holiday season. Most of us will have a little bit (or a lot) of credit card debt to pay off now. My husband and I went through YEARS of constant credit card debt when we were first married and the last few years we have not kept a balance on our card...except for in December. I planned and saved but not enough. So this is my plan for the coming year. Maybe these things will help for you too.

1. Save! The average American spends about $750 a year on Christmas gifts, holiday foods and decorations. I know exactly how much I spent this year, so I am going to have that much saved by December of this year (hopefully!). Having your emergency savings available can be good too. We have 3 birthdays and our anniversary in November and December and so I need to remember to be extra prepared.

2. Make a list of people you normally give to and ideas for them. It may seem early to think about but it can help. For example, I know which family we have in each of our family exchanges this coming year so if I see something interesting sometime this year, I can snag it early and set it aside. I usually make a list in a notebook, but this year I am going to make an Excel spreadsheet. I will also be able to note on the spreadsheet where I stashed the gift. (Like the Lego set in my closet that I picked up for half off the day after Christmas.) Also, if you have ideas for gifts, you can watch for sales throughout the year. Sales during the holidays are great, but there are lots of chances to save money throughout the year.

3. Set a budget. Having a set amount in mind can help you to avoid over-spending. Just remember to be realistic.

4. Track what you spend. If you didn't track what you spent this last Christmas, find a way to track what you spend during the holidays this year. You can use software like Quicken, an Excel spreadsheet or just notes in a notebook. Whatever works for you. Tracking can also help with over-spending because you can see where all your money is going.

5. If you don't already do so, ask your family to do a family exchange. My husband has 8 siblings and I have 4, so it would not be economic for any of us to buy something for everyone. We each have an exchange so we buy gifts for one of his siblings and their family and one of my siblings and their family. This makes if easier financially as well as a lot of fun because you can focus on one family and make it special.

Any other ideas???