Agree. Money for a cruise sounds like more fun!
We also have a reasonable limit on the gifts budget. (In all, there are 8 people to buy for, including us.) We get the out-of-state gifts early, and ship them out. So that helps to get those bought earlier, as they'll hit a November billing cycle and get those paid off. Then a smaller amount of gifts appear on the Dec. billing cycle.
I also pay cash for at least 50% of the gifts we buy. (Years ago, it would take me until February to pay off the Christmas gifts, but no more. Eventually, sanity kicked in, and I streamlined the budget.)