Christmas is a wonderful time of the year, yet it can also be highly costly. An average American shopper spends around 1500 dollars between Thanksgiving and New Year's Eve. And even if it's a great occasion to give your closest ones as well as yourself a treat, we invite you to consider these next tips in order to avoid getting broke after the holidays.

Start with a budget. Presents, groceries, parties, vacations, etc. Once you have it, put an additional 5% for any additional costs that may come. With that number in mind take a look at your current balance and see if it's possible to stick to your budget if you need to cut some expenses. Doing a Budget it's not easy, and sticking it`s even more complicated but once you have a goal, we are sure it will be a little bit easier to stay within the limits.

During the weeks before Christmas, avoid those extra coffees or restaurant bills, this will add up to your budget or help you get an upgrade in that present you want. Keep also in mind, that nowadays DIY is very popular and you can do great gifts with the help of some videos. Get creative and save some money.

And, before you start buying put some money aside in your Iban Account, you will be grateful for it since this will keep growing while your other accounts will get slimmer with all that Christmas shopping.