Many families who've been hit with foreclosure, unemployment, and high credit card interest rates are feeling the pinch on holiday spending allowances.
But practicing good spending habits like taking advantage of layaway options or giving the gift of labor can ensure you get the most bang for your buck.
Experts suggest picking out two months out of the year where you only spend money on the necessities.
That way, when the holidays come around, you might have a couple extra dollars to spend.
And experts also say take advantage of the deals now and don't wait until the last minute.
"Just go ahead and get the deal while it's there because 9 times out of 10 in the next few days it's going to go back to regular price and basically just use as many coupons as they can," said LaQuescia Haynes, Bath and Body Works Employee.
Experts also suggest saving all un-used wrapping paper for next year's holiday season.