Holidays

It may be the most joyous time of the year, but it can be dangerous to your finances. Here are some ways to control the spending.

The holiday season is an all-out assault on your senses. The music, decorations, lights and the delicious seasonal smells assail your sensibilities on every street and in every store. The pace is frantic, the mood is manic and the atmosphere is, well, different.

The holidays are so set apart from the norm that people are tempted to break out of their norm -- for just the season.

"It's seduction," says Ruth Hayden, a financial educator and author of "For Richer, Not Poorer: The Money Book for Couples."

"Consumers are seduced into buying. To be seduced means that you're crossing boundaries that you've set. You're tempted to buy because you want to belong. You're tempted to buy because you want to create love."

And that's where it gets dangerous -- financially speaking.

Payments that go on for months or years

We convince ourselves that breaking from our budget and using our credit cards a little more freely just this one time is all right. Come January, we'll get caught up and back on track.

"Unfortunately, too many consumers are paying for Christmas purchases beyond six months, a year, two years and even longer," says Howard Dvorkin, CPA and founder of Consolidated Credit Counseling Services (CCCS) in Fort Lauderdale, Fla.

Let family traditions decide your spending

"Most of us cannot remember gifts we received last year, let alone as a child," says Dvorkin. "It's the family traditions and memories that really stand out."

When deciding what to buy and what to do, first consider your family's favorite traditions and holiday memories. What truly brings a smile to your face? What is the one thing you'd most like to do this holiday? Is there something new you'd like to try?

"If you don't have the cash in your pocket, you shouldn't be buying. You can't afford it. Next month, when the bills are coming in, chances are you're not going to be in better shape," Dvorkin says.

How about you? Do you plan and save for the holidays? Or do you just punt and end up paying off the holiday bills just as the fireflies are lighting the sky in the summer?

Here are some tips to help you wrap up your holiday spending without overspending.