The holidays are right around the corner, and it’s time to start thinking about gift shopping, parties, and all the other spending that goes along with them. It’s nothing new that the holidays are expensive. However, it is important to set a budget and avoid overspending during this time of year.

This Reuters article discusses how 62% of parents admit to overspending during the holidays. Many will even dip into their emergency savings or retirement accounts just to pay the holiday bills. They offer a few tips on how to curb your holiday spending and avoid financial stress so you can enjoy what the holidays are really all about.