The holiday season means entertaining guests, big meals, decorating and of course, gift buying.

Stores definitely play their part offering deals and discounts to attract everyone to their stores; all to get you to spend money you don’t intend to spend.

Despite the urge plan ahead and stick to a budget so you’re not still paying for this Christmas next Christmas. Here are a few tips to keep you on track:

1.) Leave the plastic at home

Resist the urge to use your credit card for purchases. It is more difficult to keep track of what you spent and that line of credit will only intensify your urge to buy, buy, buy. The worst part: the interest you will be paying on that purchase long after that present is unwrapped, used and pushed to the back of the closet. 

2.) Budget

The District Council recently passed a measure that requires that mortgage lenders work with homeowners for six months through mediation before they will be able to foreclose on a home in the District. Mediation allows the borrower and the lender to negotiate with the guidance of a neutral third party possible alternatives to foreclosure.

What this means for struggling homeowners is that they now have an opportunity to work with their lender and possibly save their homes from the auction block. This is especially helpful in the District since there isn't a requirement that courts review foreclosure cases. In the District alone, there are more than 3,000 homes in the foreclosure process.