The holiday shopping season is right around the corner. And even with the tough state of the economy, Americans will be spending more than they did last year. Credit Advisors Foundation offers some tips to control holiday spending.

A recent survey by the American Retail Federation finds that Americans plan to spend an average of $833. This figure is only 1.9 percent higher than a similar prediction made by the federation a year ago and one of the smallest increases in expected consumer spending since the survey began in 2002. No doubt this decrease is due to consumers’ concerns about their economic future as the stock market is decreasing and home values are falling.

But people still feel pressured to spend more on the holidays compared to last year. However, it is still possible to have a happy holiday season without breaking the bank. Lisa Cameron, Director of Education at Credit Advisors Foundation, suggests starting to prepare now for the holidays to save money and still celebrate a happy holiday season.

•Before your friends and family start their holiday shopping, suggest drawing names or even placing a moratorium on gift giving. This way you will not feel obligated to purchase a gift for everyone.

•Find hidden sources of income; dig through your couch or deposit the money in your piggy bank.

•Consider making lifestyle changes, for example, a family of four spends about $60 each time they eat dinner at a restaurant. If they stopped eating out during these next two months, they could save at least $240 by Christmas, based on regular dining habits.

•Make a list of gifts you plan to purchase and start monitoring sales. Due to the economy, many stores are beginning to offer holiday sales earlier.

•When you go shopping set a time limit, take your list, and stick to it.

•Consider purchasing your gifts on the internet. You may need to pay shipping, but generally items are less expensive when purchased on-line.

It may be hard to start thinking about Christmas shopping now, but it will be worth it. By following these few suggestions a person can have a happy holiday season without breaking the budget.