Everyone is different and there is no right or wrong - it's individual choice.
This year, my son's presents probably come to about £130 (he's 5).
He wanted lego so I bought him a starter box and board both of which I got in the sale at asda. Loads of bricks in it and other bits.
He also asked for the hot wheels garage with shark which I also bought in the same on Amazon.
Together they were around £100. Then I got him a DVD, book, 2 games and some minions figures. He has a mashem, crayons, fun pencil and sweets for his stocking.
My Nan got him the pack of Lego type figures from Wilkinson which are compatible with the Lego he is getting. He will love that!
My mum and dad have got him 2 books plus something else (not sure what)
He has a present off my brother, my aunt, MIL, SIL/BIL, next door neighbour and his godfather so he has plenty of things to open.
Can't wait for Xmas morning!