The holidays are a time for celebration and joy, but it can also be a time of financial stress. During this season of giving and celebrating, it’s easy to forget financial responsibilities and go all out with spending. But as the cost of everything from gifts to travel to food goes up, it’s important to be prepared for the big expenses that come with the season.

Gifts are often people’s top priority during the holidays but other big expenses add up quickly. Compared to the amount of money spent on gifts, these expenses may look small at first but once it has accumulated from pre-Christmas until New Year, you’ll be surprised at how much it will hurt your budget.