Yes, I know that you are all busy cursing the Christmas in July movies, not to mention the Christmas displays in craft and other stores. But Christmas is five months from today.

This month, your task is simple. Take a good look at your holiday budget. (For budgeting purposes, the holidays go from Halloween to New Year’s Day.)

• If you don’t have a holiday budget, make one now. The budget should include everything:travel, presents, decorations, wrapping, food, new clothes, candy for trick or treaters, new serving dishes for Thanksgiving, party costs, increased electric bills, postage. Whatever extra you spend during the holidays should be part of your budget.
• Once you have your budget, look to see what you have set aside already. Are you on track to complete your saving by mid-November? If not, can you increase your savings? If you can’t, now is the time to start cutting expenses.
• Some basic ways to cut expenses: set monetary limits on gifts; reduce your gift list; don’t mail cards to people you see regularly; don’t buy new decorations — be creative with what you have; buy decorations at yard sales or thrift stores; make travel arrangements when prices are lower; entertain less or co-host a party with others.
• The key is to have the money you need set aside before the season begins. Do NOT go into debt to celebrate the holidays.