Pocket Elf is an application that may finally have a use for many average families; it tracks your holiday spending and your budget.

It’s a bit early admittedly, but if you are looking for a way to keep yourself on budget this season this might just be the app for you to look into. It’s available for for a budget-conscious $1.99 in the App Store.

Pocket Elf allows you to set a budget, create a custom list of friends, assign gifts to your friends and even create a list of possible gifts to track what you’ve already gotten.

A handy and cool tool to look into this holiday season.