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This was the Motley Fool’s recent suggestion to holiday shoppers:

Shop for a better card, preferably one with a 0% interest promotion for six months or more. Six months interest free will allow you to not only make all of your holiday purchases, but budget to pay them off.

While that’s certainly better than the alternative of putting everything on 21%+ interest credit cards, the chances of people actually getting their 0% cards paid off before massive interest kicks in are slim. Those aren’t the only alternatives. The best plan would be to budget to make your holiday purchases before you make them, so that as soon as you buy them, they’re already paid off. I can’t tell you what a difference it makes to give gifts that you’re not stressed about giving or buying; gifts that you know you can afford. To give gifts freely, without emotional angst.

To break the cycle of buying and then pay pay paying, start by planning ahead. Budget a certain amount each month for holiday spending, and stick to that amount. I usually do this by actually making a purchase or two each month. While it may seem like it’s too late for this year’s holiday season, you can still kick start things by scaling back. Of course, sometimes scaling back is easier said than done.

It can be hard to give someone a $10 gift when you used to give them a $50 gift. You may feel worse when you receive expensive gifts. That’s the time when it’s good to remember a few things: A gift is a gift, and part of giving entails learning to gracefully receive. You don’t give people gifts in hopes of making them feel bad — and chances are people aren’t doing that to you either. Focus on appreciating and not comparing.

You might also find scaling back easier if you think about how others would feel if they knew that the gifts you’re giving were bought on credit and being paid for many times over over the years. Would your friends and relatives want you to go through that kind of stress? Would they feel good about the gifts you gave under those circumstances? How would you feel if you knew that someone stressed about how they were going to make their credit card payment next month? The credit card that they charged your $40 sweater on that you maybe haven’t even worn yet?

If you’re comfortable doing so, you could give others a heads up that you’ll be cutting back this year. They may surprise you and decide to do the same.

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