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Keep holiday spending under control

'Tis the season of giving, but that doesn't mean you should break the bank buying presents for family and friends. U.S. consumers on average plan to spend about $700 on holiday gifts this season, slightly less than last year, according to a recent Gallup poll.

But while upper- and middle-income consumers said they'll trim holiday spending, lower income households—those making less than $30,000 a year—plan to spend more than last year on gifts. Don't let overspending on presents wipe out all of the progress you've made saving, paying off debts and living within limits throughout the year.

Here are eight tips to help make sure you keep your holiday spending under control.

—By CNBC's Sharon Epperson. Follow her on twitter @sharon_epperson.
Posted on 27 Nov. 2013

Douglas Waters | Digital Vision | Getty Images