You keep coming back to defend yourself @Lipperfromchipper don't you?
This is not about money. That's what is so wrong with your thinking. You seem unable to understand that.
It's about how you have made Christmas into a commercial and materialistic competition. You have said your child aged 6 is being influenced by friends at school. So what?
Why do you have to keep up with the Jones?
Why are you bringing up your children to believe they only have to ask and they will get?
I expect your home is stuffed to the rafters with toys/ tat and your children only play with a handful of what they have in their toy boxes or rooms.
Why are you adding to all of that?
The issue is you are not teaching your children the value of anything.
I am in a position where I could buy my DCs anything within reason. If they wanted a posh car each, I could buy it. Would I? No. Because it won't teach them to save and value something by working for it.
When they were younger they might have got a phone and it would be for Christmas and a birthday. When they were younger it might have been some books, an educational toy, some sweets or an outing somewhere. Or maybe a bike when the time came for that, or to upgrade it.
The point you are missing is that giving so much rubbish to your kids actually devalues them, it doesn't make it more special.
FGS get over this idea you have to spend a certain amount to show you love them, or to make them feel they have as much as their friends.