Spend Less, Give More via Good Housekeeping

We all would like to give lavish presents to the people we love. However, gift-giving is a touchy and pricey prospect for many of us living on a budget.

1. Everyone gets a price tag

Make a simple budget char before you start shopping. Determine how much you have to spend in total and write that number at the top of the page, so it's always in view. Then decide whom you will be buying for, and list their names down the left side of the page. Put dollar limits in the next column and the gift you'd like to purchase in a third column. Finally, leave a fourth column to record what you actually spent. This method gives you targets to stick to, increasing your likelihood of success. You can also shop knowing that if you overspend on someone, it will have to come out of someone else's budgeted amount.

Carry your budget with you when you shop in stores, and keep it in view when you shop online. You can also use an app like Envelopes to keep track of your budget for you.

2. Secret Santa is a frugal woman's best friend

All the budgeting in the world won't help if there are simply too many people on your list. Secret Santa and similar traditions allow family members (or co-workers, or friends) to buy just one gift while infusing the gift-giving with an element of surprise and fun.

3. Sweat the small stuff

Over a third of our holiday shopping is spent on non-gift items, such as food, decorations, and greeting cards. Shipping also takes a huge bite out of the gift-giving budget. Consider all these factors, as well as wrapping, into your budget.

4. Stop giving (to some people)

Don't give just because you feel guilty or think you owe someone. Tipping mail carriers, child-care providers, etc. can be a huge undertaking, and sometimes you can't afford everyone. Consider giving those tips at another time in the year, when money is less tight. Other gifts can include services you can offer.

5. Get creative

Don't underestimate the power of a homemade gift, such as a neat arrangement of your own recipes. Redeeming points from rewards cards or credit cards can also make good gifts in a bind.

6. Let a "thank you" be enough

What do you do if you receive an unexpected gift? Trying to keep up with others is fiscally irresponsible and unnecessary. Your ego can be your biggest enemy. You can reciprocate with handmade cards or a homecooked meal, not necessarily in kind to what your gift was.

7. Start next year's planning now

The best way to get a handle on next year is to realize that time is on your side. Stock up on seasonal items after the holidays. Shop for affordable gifts throughout the year. Assemble your purchases in December and determine what you have left to buy. Earmark special savings throughout the year to go toward holiday spending when the time comes.

If you bust your budget, figure out where you went wrong. Was it overspending across the board? On one particular person? Give yourself a vision of what you want your holiday season to be like and remind yourself throughout the year to prepare for it.