BIRMINGHAM, Ala. (WBRC) – The most wonderful time of the year can also be the most expensive time of the year.

Nick Hayes is a branch manager for Regions Bank. He suggests making a plan and creating a budget before you start shopping. He also suggests researching the cost of specific gifts you are looking for so you have an idea of how much you’re going to spend.

“If you know how much you can spend, then that’ll help you navigate to say, ‘Oh, I can spend this’ or ‘Maybe I should get this instead,’” said Hayes.

Hayes said to take advantage of any Black Friday or Cyber Monday deals and to also see where you can cut other costs in your budget.

“If you save $5, $10, $15 in two or three places, that’s maybe another gift you can get, or maybe something else you can get for a meal.”

Another option is to open a separate account at your bank specifically for holiday shopping. Regions offers various resources to help customers create a financial plan.

“We also have all kinds of articles and quizzes and different things people can go through to help them create a budget, and when they’re on that budget, help them reach that goal they’re trying to get to,” said Hayes.

After the holiday, Hayes recommends taking advantage of the decorations or gift-wrapping supplies that are reduced to get ahead for next year.

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