By Nathan Rice

We are now in full swing of the holiday season. Homes are decorated, store displays are geared for the winter holidays and “even stoplights blink a bright red and green.”

Yes, in the air there’s a feeling of Christmas. Holiday and Christmas pageants will soon be taking place and carolers may soon be stopping at your house. Christmas movies are already airing on TV, radio stations have seasonal music, and pretty soon Charlie Brown will be asking, “Isn’t there anyone who knows what Christmas is all about?”

Ready or not, the season is here. These few months, while great for retailers, can create a strain on the consumer’s budget. There is a way, however, to survive the holiday season without breaking the bank.

Start this season by creating a holiday budget. Look at all aspects of the holiday season, including special meals, decorations, gifts and travel. It is very easy to swipe the credit card during these months, and things tend to add up faster than we realize. Consider how much you are able to spend and divide that number into your categories of holiday expenses.

Maybe it is time to cut back on gift giving by setting a spending limit with family and friends. Perhaps family members will agree to purchase gifts only for children.

Decorations are always pretty, but waiting for the after-Christmas sales to purchase new displays can save a bunch, and you will have those new decorations ready for next year.

However you budget, be sure to watch your spending and stick to your plan.

It may be late to save for this December 25, but as we all know, the next holiday season will be here in the blink of an eye. Many financial institutions offer Christmas club or holiday savings accounts at no cost. These accounts are designed to help an individual easily save for the holiday season.

Consider having part of your direct deposit placed directly into this account. It is much easier to save when you never have access to the funds. Those without a direct deposit can establish an automatic transfer from their checking account to their Christmas club account monthly or bi-weekly.

Rather than digging for funds or borrowing to cover expenses next holiday season you can have a year’s worth of savings ready to use when the gift buying frenzy begins.

Last, perhaps it is time we all take a step back and remember the holiday season is about much more than giving and receiving. For some, the holiday season is about friends and family. Spending time with those you love is free and in most circumstances will create memories and bonds that will last much longer than even the gifts.

Many, like me, celebrate the birth of a Baby. The greatest gift ever given was wrapped in swaddling clothes and placed in a manger. This celebration is free, and all other gifts pale in comparison.

Whether it’s celebrating the birth of a Savior or just enjoying time with family and friends, we must remember the holiday season does not have to be expensive. The greatest things and the times remembered most fondly will have nothing to do with presents under a tree.

Nathan Rice is the Relationship Manager of the Downtown Suffolk branch of ABNB Federal Credit Union. He is a Hampton Roads native and can be reached at nrice@abnb.org.