DH and I have just asked our families if we can spend less on presents this year. Hinting at credit crunch as the reason. However we are not that hard up and would still be able to afford to spend our usual amount - if we did without something else, eg the holiday we want to take in January, or meals out, or new clothes etc etc. I just don't feel like scrimping to buy a load of stuff that nobody really wants. We're still going to get presents for everyone, but spend less and perhaps do some home made stuff as well.
Is this stingy? I am feeling guilty, but don't see why we should get into debt yet again this year, when we can just spend less and not try to keep up with our families' lavish spending.