INDIANAPOLIS (WISH) — The season of feasts, fests, family, gifts, and travel can also bring about badly broken budgets. Financial experts frequently warn that Holiday spending can lead to January regrets, when big bills come due.

Adam Young, area manager at Everwise Credit Union, says it doesn’t have to be that way.

“I really want people to enter the holiday season with confidence this year,” he told viewers of during his monthly visit with WISH-TV’s Daybreak.

Young takes a three-point approach to his seasonal advice.

Holiday Budgeting

“The holiday season can come with some financial stress,” he says. “The added expense of gifts, holiday meals and travel will put any good budget to the test.”

• Set a holiday spending budget and stick to it.
• Know your limits to avoid financial regret in the New Year.
• If you must use credit, plan for how you’ll pay it off quickly to avoid high-interest charges.

Trim the Fat on Holiday Meals

“Grocery bills have been stretching budgets all year, and during the holidays they can be even larger,” Young cautions.

• Focus on quality and not quantity.
• Plan with guests to avoid overbuying or making excessive dishes.
• Have one pie instead of three or three sides instead of six.

Gift-Giving

“Just like our meals: focus on quality,” he advises. “I was talking to my wife this morning. She was like, ‘Why don’t you talk about a movie night?’ And I was like, Dude, that’s an excellent idea!”

• Focus on meaningful gifts that meet needs or assist with hobbies.
• Avoid flashy and expensive items.
• Consider homemade or meaningful experiences.

“Quite frankly, what’s a better gift than having that financial kind of freedom at the end of the season, where you maybe hadn’t had to leverage a lot of debt on credit or anything like that because you were able to stay focused in on your budget?”