Christmas is all about celebration. There’s the gift giving, the parties and the big family get together. However, the festive season can leave you with a financial headache. If you’ve splurged on the presents you bought and upped your grocery bill for Christmas Day lunch, you could find yourself in debt come the new year.

Here are five tips to avoid falling into debt this Christmas:

1. Write a list

Spontaneous spending and lack of financial planning are the biggest culprits of Christmas debt, claim money advice experts. To keep your expenses under control, come up with a list of those you need to buy presents for. Work out how much you can afford on gift buying and put a limit on the amount you spend per person. Heading to the shops with the attitude ‘I have $30 to spend on a present’ will help you avoid overspending. When buying for a Christmas party you are hosting, follow the same tactic. Write a shopping list and stick to it.

2. Share the financial load

If your finances are really tight this year, look for ways to spend less yet still celebrate. For example, do a ‘secret Santa’ with your family or group of friends. This way you only have to get one present and can spend more on making it a great one. If you’re hosting Christmas lunch, don’t take on the full financial load of buying all the food. Ask everyone who is attending to bring something along, whether it’s drinks, a salad or a dessert.

3. Shop around for a good deal

When buying Christmas presents, don’t buy the first thing you see. Instead, take the time to look around and compare prices on a product. Looking online is an easy way to check out the different prices stores are offering. You may even find a cheaper price online – just consider the shipping costs to see if the total adds up to more before you pay at the checkout.

4. Pay with the money you have

If you have a credit card, try to avoid putting all your purchases on it. Otherwise you’ll find you have a big amount for you to be paying back, and if you’re only paying the minimum amount then the high interest rates will see that debt grow. Instead, try to use cash or your debit card to pay for extra expenses.

5. Don’t forget about essential bills

The danger of the holiday season is that you get so caught up in the festivities that you forget about the mundane expenses of electricity bills and mortgage repayments. Remember to pay these off, even if it’s the minimum amount you can pay. Missing a payment or being late on a bill can incur an extra charge that will cost you more in the long run.