The holiday season is that time of the year when overspending is justified – or at least people seem to think so. It’s easy to get lost in the holiday spirit. What with all the holiday sales in practically every mall and boutique in the country.

You think you are not spending that much because you bought items on sale. But this is what really happens: since you saved money buying that item on sale, you will you use that money to buy something else, and so on, until, well you overspend.

Of course, you would not want to disappoint your god child who has been hankering for that Nintendo Wii. Of course you wouldn’t want to disappoint you other family members, either. Then there are your friends, the your colleagues, your neighbors. The list goes on and on. By new year, you’re broke.

Learn how to curb your holiday spending and still be the most generous relative, friend, co-worker and neighbor ever!

For family members

One family, one gift – If you have a large family and have siblings who already have their own family, an great idea is to give one gift to each family. Just make sure it’s something the whole family can enjoy.

Throw a party – Throwing a party for your family is like hitting two birds with one stone. One, you get to include everyone (and no one would think you are stingy). Two, you get the whole family to have fun together which will be a lasting memory for each family member.

GC’s – GC’s or gift cheques are a grea way to help you save money. Offices usually give GC’s to employees, so why not fork them over to mom and dad or siblings this holiday season. That way you get to give a "generous" gift and they get to pick the present they desire.

Secret Santa – secret Santa is a fun way to hand out presents this holiday season. Plus, it can help you save a lot of money. You won’t have to get everyone a present, yet everyone is included and has fun guessing who is their secret santa.

For colleagues

Homemade goodies – bake cookies, brownies, s’mores or whatever you know how to make for your colleagues. It’s inexpensive and also includes everyone. Come break time, your co-workers will be singing your praises.

Don’t forget to put in a big colorful holiday greeting and your name to let them know who the sweets are from.

Greeting cards – are a simple yet meaningful way to extend your well-wishes to your colleagues, especially if you personalize your message for each person in your department.

Remember though, to be sensitive to office diversity. Just hand out general "Happy Holidays!" (no mention of Christmas, Hanukkah, etc.) greeting cards.

Secret Santa – secret santa also perfect in the workplace. No one is left out, yet everyone gets a present.

For the kids

Go easy on the kids – we’re only young once. Let the kids enjoy their childhood. Give each one a sweet, "trendy" gift. There isn’t a lovelier sight in the world than the delighted face of a child.

Let the kids choose – tell them Santa needs to know what they really want for the holidays. Would it be that cool new toy gadget or the video game?

Making the kids make choose for themselves teaches them how to make decisions and how to prioritize. They can also learn the value of "trendy" items this way. Plus, it saves you the trouble of having to choose the perfect gift.

Video sets – some kids’ videos are both fun and educational. Plenty of these videos come in sets. A great cost-cutting idea is to get the whole set and wrap each item individually. It will seem like you have plenty of gifts.

Maybe you an give an entire (but individually wrapped) set to a set of siblings. The siblings get to spend time playing together, enjoy the whole video set for themselves and still get a gift each.