Everyone with kids knows that being a parent is a pricey venture, but during the holiday season? It’s a whole other level. As we zero in on the last month of the year, parents are feeling the pressure to spend more money than they intended.

A new survey from NerdWallet says that parents with young kids (under the age of 18) plan to spend more on average on gifts and vacations for the holidays than their childless peers do, at $1,070 vs. $860 total. 48% of these parents say they feel guilted into spending more, and honestly, same. 

However, with a little planning and some money sensibility, you can still shower your kids with new stuff without going overboard. Here are 5 ways to avoid falling into the overspending trap during the most wonderful time of year — some of which you probably haven’t heard before:

1. Take inventory before you shop. Every year in December, my husband and I do a major toy cleanout, where we make room for new stuff and either donate or put in storage the toys my son no longer plays with. This also helps us see what he has plenty of and what types of items may need to be replaced. By doing this before we shop, it prevents superfluous purchases of duplicate items and helps us zero in on what he actually “needs.”

2. Set and maintain a budget. Yes, making a budget is an obvious part of this story about, um, making a budget, but that’s because it’s true. It’s like going into Target without a shopping list…you walk out with way more than you intended (come on, we’ve all done this). Financial experts say to allot 1 to 2 percent of your annual income to holiday gifts, but of course, set a number that is realistic for you and your family, and that won’t lead to buyer’s remorse come January.

3. Check second-hand sites and local Buy Nothing groups. My town and many others near me have “freecycle” Facebook groups, where members can post items they’re giving away for free and/or specific items they’re ISO (in search of). If you’re on the hunt for a specific item, check there first to see if someone has a gently used one they no longer need. You can also check out resale toy sites online like Toycycle and Goodbuy Gear, or search for “used toys” on Amazon for decent discounts on like-new and gently used items.

4. Gift experiences instead of things. There are so many great gifts to get your kids that aren’t toys, such as gift cards to local shops, art or sports lessons, show tickets, or magazine subscriptions. These items sometimes but not always can cost less than toys and tend to be more memorable too, so it’s worth looking into these as great options to supplement the tangible items you’ll be gifting.

5. Search for online coupons. This isn’t your grandma clipping coupons from a catalog. My game-changing online shopping hack is googling whatever store I’m buying from and “coupon code” to scour the internet for discounts and deals. Sometimes I’ll find influencer codes and other times they’re exclusive to that brand’s email subscribers, but 9 times out of 10, I’ll find a code that works like a charm and saves me a few bucks. Especially for big ticket items, these codes can make a big difference in overall holiday spending.

What’s your best budgeting tip for the holiday season?

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