But, while it's always an exciting time for children, for some parents, the festive period can be a headache.
It's reported that 1 in 5 people are still paying back their debts from last Christmas, and 1 in 4 of us rely heavily on credit to get through.
Although it's undoubtedly an expensive time of year, it doesn't have to come as a shock. With just over three months to go, we've put together some tips to help take away some of the stress.
Start saving NOW
It sounds like an obvious one, but start putting away as much as you can afford every month as early as possible. You won't miss £10 here and there, but you will feel the strain of having to part with a big chunk in one go come December.
Set a budget
Work out what you can afford to spend, and stick to it. It is thought that the average British family spent £868 for Christmas 2014, but it can of course be done for a lot less.
For example, if you can afford to spare £20 a week from now, that's £10 for food and £10 for gifts/extras, you'll have around £250 the week before the big day.
Pull together
For many, Christmas is time for the whole family to come together. This means it's usually one person who gets lumbered with the food bill – and the cooking!
Get all the aunts, uncles, nans, granddads, brothers and sisters – everyone – to chip in for the food and drink, you'll find you get much more for a lot less.
Avoid credit
While store cards and overdrafts can seem like a good idea at the time, interest rates mean you'll be paying off Christmas 2015 well into next year.
If you really are struggling, talk to a family member or close friend and see if you can get a loan from them. These of course are interest-free and they'll be a lot more understanding if you have to miss a payment.
Buy as you go along
There are things, such as fruit, veg and dairy products, that can't be purchased until the last minute. But anything frozen, tinned or bottled can be bought in the months leading up to Christmas.
Start stocking up your cupboards with a few things each week from now, and you'll be surprised at how quickly you cross everything from your list.
It's the same with gifts. If you see something you know one of your loved ones will appreciate, buy it – even if it is September. This way, you won't be under pressure come December to spend all of your money on everybody else.
Secret Santa
If you've got a large group of friends or co-worker, suggest secret Santa. It doesn't mean you have to scrimp – you can set a larger budget per person, and you'll still be saving money. It just means everyone gets one really nice gift.
Make some cutbacks
Nobody is saying you have to stop enjoying life in order to afford Christmas, but, for example, if you enjoy four nights out a month, perhaps cut this in half from now until Christmas.
When you're shopping for clothes, unless it's really necessary wait to pick it up in the Boxing Day sales. You never know, you might find it waiting under the tree on Christmas morning!
Don't panic
The most important thing of all is to make sure you're enjoying every minute of the festive period. If you go into December stressed, you're not going to have the best time.
Christmas is not about receiving flash gifts, or tucking into the most expensive food – although it's aways nice. It's about being with the people you love the most.