The National Retail Federation expects holiday sales to top $1 trillion this year for the first time, but shoppers say they plan to spend less than last year, according to a Deloitte survey.

Cost of living and concerns over the economy are two of the main reasons shoppers are holding back, the survey shows.

No matter how much shoppers plan to spend, Nerdwallet has some cost-saving and time-saving tips:

For those who need something practical, Black Friday may be their lucky day.

"If you have anything on your list like washer, smaller appliances, it's a really good time to make those purchases on Black Friday," Nerdwallet's Kimberly Palmer says.

Other advice includes skipping furniture and décor and find winter clothes by shopping online on Cyber Monday.

Finally, make sure to check ret

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