According to WalletHub, about 35 million Americans still have holiday debt from last year.
ABC7's Consumer Investigator Jason Knowles has tips on how to spare your wallet this holiday season.
Consider reducing the amount of money you spend on gifts by $10-20 each. It might not sound like a lot, but it'll add up.
Start thinking about next year. Contact your bank or your employer and see if there's a program where you can take money out of your paycheck to start saving for a holiday fund.