I've stopped doing that.
Pare back activities. I'll take ds out for a hot chocolate, make mince pies at home, put up a christmas tree and some gable lights, and visit some friends, but otherwise Christmas is for rest and relaxation. Early morning running, making soup and ginger bread men, watching films, cycling with ds, reading in front of the log burner. Pottering.
Anyone is welcome to drop in, the kettle is always on, but I'm not going to see panto or shopping/booking a show in London. Nothing flash.
Xmas lunch is leek & potato soup, roast chicken and all the trimmings, xmas pud & cream. Nothing ambitious.
Forget about expensive present expectations too. For everyone except DS, I buy something that will make them smile. For dsis who's in a new home this xmas, a little vase and some freesias for her bedroom window sill. Total cost about £15 but it will make her smile and suit her cottage. For others, some unusual cheeses and some pickles or a book on something they are interested in.
For DS I've bought things he actually needs, and then an experience.
I treated myself to a new sweater.
I think my whole Christmas including food for three will be about £550 and it'll be lovely.