With prices of many common goods rising due to the pandemic, budgeting and being financially savvy can help many of us not feel the crunch on our wallets this holiday season.

There are several steps you can take to help you plan, budget and be a savvy shopper.

Start early

If there’s one theme to this year, it’s start early. With supply shortages happening, shipping issues and price hikes coming, you don’t want to wait until the last minute. Usually, last-minute shopping leads to spending more and not getting exactly what you want. With COVID-19 and the increase of vendors selling everything online, Black Friday has morphed into a couple months of deals in November and December online. Next week you may be able to get the same deal as you would have only found in-store the first week in December in the past. So don’t wait!

Create a holiday budget

The average American goes $1,000 into debt by January because of holiday expenses. Your budget shouldn’t just include gifts but also include parties, food and travel. The additional get-togethers and celebrations often lead to more spending and money spent on the holidays can add up quickly. Whether you create a simple or detailed budget, just remember to be realistic so your financial accounts don’t feel the winter blues after the New Year.

Automate your savings

Plan to set aside a small amount each week or each paycheck just for holiday spending. You can do this within the budget you set, or you can automatically have that money transferred into a separate savings or checking account. Doing the latter makes it clear where the money is supposed to be disbursed.

Use rewards and points

Do your credit cards or frequent shopping destinations allow you to acquire benefits? This could be the time of year to use them. If not, consider switching to ones that allow you to build up rewards such as cash back, free gift cards and extra discounts.

Research to find the best deals

Take some extra time looking into when and where to find the best deals, as well as if there are any bulk discounts, coupons or additional gifts that can come with purchases.

Shuffle your expenses

Consider where you are currently spending your money on a weekly basis and determine if there are any purchases that can be put on pause or reconfigured until next year. Maybe that means eating one less meal out during the week or making coffee at home instead of stopping by your favorite spot each morning. Little adjustments can add up in big ways.

Editor's note: Mike Waldron is director of marketing at TruWest Credit Union.