Having a happy holiday doesn’t have to cause you stress or be the source of a financial hangover in January.

Here are 10 tips from Maxed Out to help you enjoy the holidays without breaking the bank.

1. Set Your Budget
Create a budget using Maxed Out's holiday budget template.

2. Allocate Your Budget
Determine how much you want to spend in each of the four categories of the budget: Gifts, Décor, Entertaining/Food and Travel.

3. It's a Family Affair
Work as a family or a team to build and execute your holiday budget and plan. This works for families with children, extended families and even workplace families!

4. Take One for the Team
Assign family members a holiday budget category. Mom and little brother can take on Entertaining/Food and Gifts, while Dad and big sister head up Décor and Travel.

5. Set a Date to Prepare
Designate a weekend to execute your holiday preparations – a great way to create family time and stay within your budget.

6. Think of More than Money
Think of gifts in three categories: Gifts you buy, gifts you make, and gifts you give of yourself. A charitable donation makes a great “gift of self” - volunteer at your local food bank or donate to a toy drive.

7. Reduce, Reuse, Recycle
When it comes to decorating think: reduce, reuse and recycle. Take inventory of last year’s holiday accoutrement before heading out to buy more.

8. Food & Entertainment Plan
Create an Entertaining/Food plan. Prepare menus, make a shopping list - check it twice, and don’t shop on an empty stomach. If you really want to be thrifty, shop with a calculator and keep a running tally.

9. Under Budget?
If you come in under your holiday budget, take the surplus cash and set it aside for next year. Deposit it in a guaranteed investment or high interest account. Add a line to your household budget and start contributing monthly to next year’s merriment.

10. Involve the Kids
Make sure you involve your children in the budgeting as well as the planning of your holiday festivities. You’ll impart good financial habits, reduce stress, and put the true value of family back into the holidays.