With Black Friday right around the corner, the tension of having to spend a lot of money for the holiday shopping season is here.

But it doesn’t need to be tense.

“The holidays can either be the happiest time of the year or the most stressful time of the year,” said Lou Scatigna, financial planner and author of “The Financial Physician.” “The truth is, it can be easier. We all have high expectations for ourselves when the holidays come around, but by simply taking a step back to look at our situations realistically, we can actually plan a joyous holiday without taking ourselves to the poorhouse to do it.”

His ideas on holiday budget planning include:

– Honestly evaluate your current financial situation and determine how much you can spend without going into significant debt

– Decide the maximum amount of spending that will be done on credit cards

– Discuss with your children that during tough times, holiday expenses will be lower than when times are good.

– Start shopping now. This will give you the time to search for sales and bargains, many retailers have already discounted prices. Another reason to start now is you will wind up using more cash and less credit cards because you are spreading the buying over more than a month instead of three or four weeks.

– Use the Internet. Great bargains can be found because online stores don’t have the traditional brick-and-mortar overhead cost of retail stores. Also, you get to beat the crowds, parking and long checkout lines.

– Instead of buying 3 or 4 expensive gifts, buy a larger number of inexpensive ones.

– Start a holiday club bank account to be used for next year.

– Restrict gift-buying to your immediate family if possible.