Gas prices are projected to reach an all-time high in the next few weeks. At a time when Americans tend to spend more than normal, any such increase can have a dramatic effect. Some examples of seasonal expenses include groceries and restaurant bills for large family dinners, presents for our loved ones, shipping gifts to far-reaching destinations and travel arrangements for visits to friends across the country, all of which are based in part on the price of a barrel.

While we’re accustomed to making sacrifices such as carpooling or not driving unnecessarily, will this projected increase in gas prices mean that we’ll have to make concessions when it comes to our holiday plans? Will some of our favorite holiday traditions just become unrealistic if this trend continues? As with any situation involving finances, the more you plan ahead the better off you’ll be. Carefully evaluating which holiday expenses mean the most to you and budgeting your finances accordingly is the main way to maintain control over your Yuletide and your bottom line.