One of the hardest times of year to keep from going in debt is Christmas. Here are a few tips for having a memorable Christmas without the debt.

Trade Names

If you’re buying gifts for multiple people in your family, then consider drawing names and buying one gift for just one person (instead of everybody).

Example: If there are four people in your family, then each family member would purchase only one gift. That would be four gifts purchased by the whole family.

If each person bought a gift for all three individuals, that would be 12 gifts total. So by doing a name swap, you can cut your gift giving (and spending) by 200%.

Make Your Gifts by Hand

Do you have a talent for crafts? Make your gifts instead of buying them!

My wife is good at making jewelry, ornaments, and hair bows. She’s used her skill to save money during the holidays.

Don’t Give Gifts

Is it really necessary to buy gifts for your family members and friends? Is there really anything they need or want in the first place?

Consider putting a moratorium on Christmas gift-giving for one year. Focus on spending time with people you care about.

Create a Gift List

If you decide to give gifts, use a list to guide you. Write down all the gifts you plan to buy in advance, as well as how much you intend to spend.

Window shopping is a friend of debt. But if you have a clear purpose and budget, you’ll walk away with your finances intact.

Don’t Use Credit

When buying gifts, use cash or debit — but avoid using credit. Since you’re spending a lot of money in between the statement cycle, it’s too easy to lose track of what you’ve spent.

And by avoiding credit, you won’t get any nasty surprises in January when the credit card bill shows up.