IT’S almost Christmas, and tills are ringing as people open up their wallets. Whether it’s presents or parties, tinsel or turkey, the determination to have a good time is all-consuming.

Think before you go shopping mad this Christmas

Which is a fine thing. The trouble is that come New Year’s Day, some of us are going to wake up with a financial hangover.

With that in mind, here are Your Money’s top 10 financial dos and don’ts for the next two weeks.

1. Do budget

Just because virtually every shop in the land is exhorting you to spend doesn’t mean you have to succumb.

Ultimately, how much you spend on Christmas is down to you. Work out how much you can afford, and stick to it. Check you have enough money to pay for the rent/mortgage, food and heating.

2. Don’t take out short-term loans

If you are a bit short of cash, don’t be tempted to top up your spending with a short term loan.

The interest rates offered by some legitimate companies can be extraordinarily high. And certainly never borrow money from a back street lender, or against your property. The Christmas present that is worth losing your house for hasn't been invented yet.

3. Don’t buy online unless you’re 100% certain

With the weather we’ve been having in the last few days, it’s hardly surprising that more and more people are choosing to shop online. Unfortunately, internet shopping also attracts scammers. Check that the site you are on is secure and genuine before parting with any cash.

4. Do shop around

It’s no secret that times are hard on the High Street. Tough times for retailers, however, should mean good times for consumers, and there are bargains to had. Some shops are even starting their sales early. Haggle if you can bear it, but at the very least compare prices before making a purchase.

5. Don’t pay for unnecessary warranties

One way retailers attempt to claw back some of their discounts is to get shoppers to sign up for extended warranties on electrical goods. Treat these with extreme caution. They often don't represent good value for money. If you do want one, there are usually cheaper options available.

6. Do take advantage of vouchers

This advice holds good all year round, but vouchers are very much the money saving tool of the moment. Whether it's cutting out coupons from the daily papers or signing up to one of the discount voucher schemes that are all over the place at present, you can save yourself a whole heap of money.

7. Don’t go over your overdraft limit

There’s absolutely no excuse for this and it’s an extremely expensive mistake to make. Keeping one eye on your bank account should ensure that you don’t fall foul of the charges that the banks just can’t wait to impose on you. It’s not the most costly financial mistake you can make, but it’s irritating and unnecessary.

8. Do check your insurance

Many insurers will automatically tack on extra insurance over Christmas, but does yours? Putting your foot through your new wide screen is bad enough without discovering that it isn’t covered. Check the small print.

9. Don’t leave your presents in public view

In a similar vein, be careful with what you’ve bought. Leaving presents by a window, in an unattended car is asking for trouble. And if you buy your kids something glamorous, suggest they don’t take it to school with them.

10. Do have a simpler, family Christmas

Make gifts and cards yourself and show your family how much you care by spending time on them, rather than money. A gift sent with love, rather than a massive price tag, is always appreciated.