The festive season is just around the corner and Australians are expected to spend $23 billion this Christmas. It's quite easy to spend up big at Christmas, and overspending can wreak havoc on your finances as well as your stress levels.

We've put together the 7 ways to save this Christmas season, so you can wake up on Boxing Day without a credit card hangover!

Plan Ahead

Write a list of gifts and allocate your funds before you go shopping.

Go Online

Escape the shopping centre madness and jump on your computer. Make sure you shop around for the best price and take advantage of the strong Australian dollar. Check out websites like ourdeal.com.au or catchoftheday.com.au for one-day offers on excellent gifts at discounted rates.

Stagger the Spending

Be organized if you are hosting Christmas festivities and write a list of food and drinks on the menu. Having the list early ensures you protect yourself from costly impulse buys and it will help you to have time to shop around and pick up items on special. It will also help you stagger the costs throughout the month.

Cut up the Credit Card

If you don't have the funds you can't spend it. A Debit card is a great way to control your spending as it takes the money out in real time.

Made with Love

Sometimes you can create the perfect gift without spending a fortune. Making your own Christmas cake or homemade lemonade is a wonderfully thoughtful gift. Themed hampers are another great idea, you could get them a movie voucher, popcorn, lollies and a pair of 3D glasses in a beautiful basket from a discount store.

Have a free holiday

Thinking of a cheap holiday – a house swap could save you thousands! To register with Aussie House Swap check out their website (www.aussiehouseswap.com.au). You can view houses without having to join up, but for $65 a year you can list your house and arrange swaps.

Take advantage of the sales for 2012

If you are really organized, you can hit the Boxing Day sales and save money on decorations and gifts for Christmas next year.

Sites for savings

+ http://christmas.organizedhome.com

+ www.oo.com.au

+ www.whypayfullprice.com.au

+ www.fishpond.com.au

+ www.bookdepository.co.uk

+ www.lasoo.com.au

+ www.dealsdirect.com.au

+ www.ebay.com.au

+ www.freecycle.org

+ www.strawberrynet.com

+ www.amazon.com

Reference: Body and Soul Article, December 4: http://www.bodyandsoul.com.au/soul+happiness/wellbeing/save+money+be+happy+this+christmas,15853