MIDDLETOWN, N.Y. — If you haven't finalized your Christmas shopping, there's some tips you may want to keep in mind for next year.

Economics professor Della Sue, who teaches at Marist College in Poughkeepsie, says planning ahead of time and setting a budget for yourself are just a few ways to monitor your spending.

“Some people will shop all year-round," Sue said. "Those people tend to be what we call in economics more ‘price-elastic.’ They’re more ‘price-sensitive.’”

Once you've established a holiday spending budget, Sue recommends making a list of items/gifts you plan to buy from each category (e.g. decorations, entertainment, clothes, etc.) 

Simple steps like these, experts suggest, can save you time and keep more money in your pocket. 

Parents like Carl Long said another suggestion is to know what you're going to purchase before entering any store.

“My daughter said she wanted a few dolls," Long said. "I’m going to get her a new bike and maybe some clothes.”

If you plan ahead of time, Long also said cash can save you the hassle of dealing with credit card debt after the holidays. 

"You don't want any last-minute surprises when you go to go shopping and now you think you're getting people gifts and the budget won't allow it," Long said.