Heading into the holidays without a plan for your money can set you up for a financial disaster in the new year: “According to the National Retail Federation (NRF), shoppers plan to spend nearly $1,000 on average during the holiday season.

Spending on gifts accounts for $650, while food, decorations, and other non-gift items make up $230 of their holiday budgets. Other holiday purchases for themselves or family members come in at $117.”

While that number may sound right on the mark for you and your family, it can be staggering to think about spending such a large amount of money without a solid plan in place. Here are tips for establishing a firm holiday budget for both your money and your time so that your holidays can be stress-free and oh so merry.