Not at all, my family and I have all agreed on a £10 limit per person this year.
DH is the only one I will spend more on!
To be fair my family are fairly easy as I can generally get them the same things and everyone will appreciate!
I also have 7 family birthdays in November and December and a wedding as well as these xmas pressies!
Most people are getting homemade treats (Christmas biscotti, baileys fudge, Nutella fudge, xmas pudding rum, flavoured vodkas, chocolate bark etc)
Homemade hand warmer thingys to heat in microwave and put in pockets,
aprons/oven mitts, personalised mugs or plates etc.
To be honest I think I will come in well under £10 per person!
Kids in family are getting homemade candycane playdough, snowman marshmallow lollipops & bags of reindeer noses (malteasers with one red gumball!) and a personalised xmas tree ornament.
Dogs in family (4 of) are getting homemade dog biscuits! 
Almost everything I'm making doesn't require me to buy much more...I have most of the ingredients/materials in the house already!
I will buy some shop presents (mainly for DH) but will just get little cheap items! (I am off to Boots double discount day tonight to get a few bargain bits and bobs!
)