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In my house, we all pick out of a hat one person to buy for with a $50 limit. We're also discussing making a family donation. We really have everything we need, so we make Christmas about being together and being grateful for what we have instead of rampant consumerism. It just feels healthier that way. As a consequence, saving up a ton of money isn't necessary. (And we have children in the mix who we want to teach that happiness doesn't come from owning stuff.)