Worried about how you'll pay for Christmas shopping this holiday season? Historically, many Americans have gone into credit card debt to do so. It was as if debt was almost a prerequisite for having a cheerful holiday season. But paying for Christmas with credit will never have a storybook ending.

In this new era of thrift, old ideas are becoming new again. Last season, some credit unions started promoting savings clubs for Christmas. These kinds of arrangements have traditionally been known as Christmas clubs.

The basic idea is that you divert money each pay period into an account. Whatever balance you have as you start your Christmas shopping becomes your budget.

BrandWeek.com reports Sears and Kmart are now offering their own Christmas club. A minimum opening balance of $5 is required. Sears and Kmart will offer an additional 3 percent on your balance as an incentive. All money must be used at Sears and Kmart stores. One caveat: Should these retailers go bust, your money goes bust too.

Advance planning is the key to surviving holiday shopping. Prepare now so you don't spend yourself into debt. That's the best gift you could give your wallet.