Germaine Harris, a private wealth advisor with BMO Private Bank the key to not falling behind is to budget.
"It becomes critical that we budget because what we don't want to do is overspend," said Germain Harris of BMO Private Bank . "Keep in mind the most thoughtful gift might not be the most expensive one."
And don't wait until the last minute, Harris said.
"As you head into that final weekend, there might be stores that have inventory and they might offer some big discounts. "What we say is that you don't want to plan on it."
The pandemic had an impact on inventory as well.
"Coming out of Black Friday, what you didn't see were the big crowds," said Harris. "Shops are actually offering discounts earlier and they're offering them for longer."
Harris said there are many ways people can plan head including taking advantage of online resources or simply by going to a bank and talking to a financial advisor for help.