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Americans, on average, were expected to spend about $1400 during the 2022 winter holiday season, according to an article on Bankrate. With so many reasons to celebrate between November and January, it is little wonder why shoppers are keen on spending for their families and loved ones year after year.

On the other hand, getting a hangover from holiday debt can quickly weigh you down long after the celebrations end. Fortunately, summertime is the right time to plan your holiday finances. Here are a few budgeting pointers that may help brighten your spirits for later in the year.

Know Your Timeline

You have roughly four months to prepare for the winter shopping season. That means you can make saving for the holidays as part of your budget. Based on a $1400 savings goal, that means saving $350 monthly between now and November.

Now that you have a goal in mind, you can take actionable steps to achieve it. It might be helpful to save in small, manageable increments instead of a lump sum. After all, you may have other priorities to consider, like saving for an emergency or big events you want to attend between now and the holidays.

Rethink Your Tax Return

Many Americans eagerly await their yearly tax return to get a boost to their savings. The average tax return is $2753, but money like that doesn’t arrive until April. Adjust your W-4 to more accurately reflect what you owe in taxes.

Use the IRS website to verify your withholding amount and decide if it makes sense to have fewer taxes withheld out of each paycheck. If you use this strategy, you might find you’ll have more money to work with throughout the year rather than receiving it once annually.

Save a Little and More Often

Just as rivers carve out vast canyons over time, taking every opportunity to save a little money as you go adds up. For instance, starting now, saving one dollar a day can easily net more than a hundred dollars come Black Friday.

Of course, you can also save some money while shopping for daily necessities, such as taking advantage of sales at the grocery store. Choosing lower-cost alternatives for activities, such as how you get your daily coffee, will also add up.

Another thing you can do is cut back on monthly expenses that aren’t fixed. Try to spend $10 less monthly on things like gas, groceries, and entertainment.

Commit to Your Holiday Savings Plan

Remember: when it comes to finances, the battle must always be won in the mind first. Get into the mindset that you are saving with purpose, and that your actions are for a good cause.

One way to treat your savings is much like the gifts you are buying: wrap them up and don’t open them until the Big Day. Consider opening a savings account dedicated to the holidays. Then set up a direct deposit so a portion of your paycheck goes there. After all, the money you never see is money you don’t spend.

Above All, Remember the Reason for the Season

It can be easy to get wrapped up in a whirlwind of consumerism—especially when thinking about all that excitement waiting at the end of the year. For these occasions, it is always important to be mindful of why we celebrate these days.

The time you spend with your loved ones will be remembered long after the wrapping paper has been thrown out. Kindness and happy, shared experiences will always be meaningful substitutes for expensive gifts.