VIRGINIA (WDVM) — The holidays are near, and some may be extra tight on cash this year. So how can we buy gifts without breaking the bank?

Steve Siebold, who is a certified financial educator, said if you are in a tough spot financially, you should be transparent with those you plan on to buy gifts for to set an expectation.

Siebold says that living and spending below your means will always ensure that you have enough cash to get through the holidays. One of the ways also includes creating a budget strategy.

“Budgeting really goes a long way,” said Siebold. “If you’ve got 10 people to buy for and you’ve got a $500 budget across the board, then spend $50 a person.”

Siebold also says to always use cash, not credit.

Siebold recommends acting on logic, not emotions this holiday season — meaning, don’t fully buy into the materialism of the holidays.