Don't break the bank: Budgeting in time for the holidays

DECATUR, Ill. (WAND) — With the holidays just around the corner, shoppers may feel that the costs just keep adding up. But there are still solutions for smart spending.

Matthew Plader, a financial advisor at IPI Private Wealth, said even with just a few weeks left until the holidays, you can still budget to prevent any future financial stress. "Set yourself up for success by determining a good number -- just a figure that you want to spend on that holiday season. Everything that goes into that; gifts, any meals that you're going to prepare, if you want to go out to eat -- take that into account as well," Plader said.

He explained that you can set a goal of how much you'd like to save and do what you can to reach that number. "I'm sure people have, you know, a couple more paychecks coming before the holidays so you can kind of get that number down on paper and just kind of think in your head, 'this is the number I want to spend' and just start setting aside some extra cash for that," Plader said.

He said it is never too early to start preparing for future holidays and other big spending. "Setting some extra money away, whether it's each paycheck, whether it's each month. Just kind of set a goal for yourself. And it doesn't have to be something super crazy," Plader explained. "It doesn't matter if it's $20, if it's $100, if it's $500 a paycheck a month -- whatever you can put away, it's good to put it away."

Plader still thinks that you don't need to break the bank to make the holidays special. "The important thing to remember is that the holidays are about spending time with loved ones. That's, you know, first and foremost, the most important thing."