The holidays can be an expensive time. After entertaining and giving gifts to family and dear friends, there may not be enough in the budget to contribute to office parties and gift exchanges. Don't let the pressure to contribute drive you to spend more than you can afford, warns CNBC personal finance expert Carmen Wong Ulrich. See Carmen's suggestions for avoiding or spending less on these office gift exchanges.

 Find more information on coping with the economy with our Bail Yourself Out resources.