Take the "On the Money" Credit Free Holiday Challenge!

Do you have what it takes to tackle the Credit Free Holiday challenge? Sure you do!

The first challenge is to set yourself a holiday budget. Pick either $1,000 or $500 as your goal for Nov. 28, the dreaded Black Friday. For $1,000, you need to save about $167 a week before then; for $500, about $83 per week.

Seem impossible? It's not! You just need to be money smart. Cut down on your daily bottled water or vanilla latte habit and you could save about $30 a week. And avoid making multiple trips to the ATM -- those fees add up! Got your own tips on cutting corners leading up to the holidays? Share them with me and fellow viewers!

If $1,000 or $500 is still out of reach, then think hard on whether you really need to spend that much money in order to enjoy the season in the first place. Instead, you can set limits on the amount you spend on presents, or set up a ''Secret Santa" plan with the family, where each person only buys one relative a present -- exchanging gifts actually can be more of a fun activity that way! Remember, the holidays are most importantly about spending time and having fun with your family -- and there are plenty of creative ways to do that, which don't involve a lot of cash!

Again, I know you have your own tips for tackling my Credit Free Holiday challenge and I want to hear 'em, so shoot me an email or share your suggestions on our Forums!

Good luck! I know you'll be able to do it -- and still have a great holiday season!