FLUBBA,
last year I relented and bought all the ungrateful buggers gifts. This year I do not have the option. I have bought for the kids, mostly ebay and in the sales, I have actually bought my nephew a second hand vtech computer, I think my sis would have a fit if she knew someone else had touched it before he does but it come with the box so Im feeling really sadly smug at getting one past her radar 
I am making small hampers to include a selection of: toffe vodka, mulled wine/cider kits, christmas pudding brandy, bath stuff and fluffy socks (bought) and a biscuit barrel (tesco 1.80!) filled with homemade things, either honey comb or biscuits. I also host the evening with a small buffet and all the costs that go along with that. Tbh I dont care this year, i feel much more confident in telling them like it or lump it but at least appreciate the efforts when DH out of work and me returning to study!
Im also making up a hamper of above for me and Dh to open on christmas eve night when the kids are in bed, quite looking forward to it as we usually have a takeaway but cant afford it, so this will be a good sub for that 
Christmas is still costing around £400 of money we just dont have, but Im quite happy that this will set the trend for future years when we do have spare cash again. Then i can spend it all on my poor Dh who always seems to be first to lose his place on the present list when we are skint. 