I'm no Scrooge BUT ....
For age 1 through 4, even 5 or 6, I will admit to not spending any money at all/very little money on Christmas gifts for my DC. My DC got too many presents for birthdays, Easter, just because...presents. And the kind people giving them would often buy for an older age group so they could "grow into them" I would stash these away unopened in their boxes in a wardrobe for Christmas, or holiday time or the charity shop.
Like, who would ever know? I'm not the kind of Mum that needs to take a pic for social media with her children standing shell-shocked in a sea of presents under the tree. Pictures like these make me shudder when I think of the waste, the packaging, the fact that children not much older than my own might be involved in the manufacturing process.
At age 5 or 6 we started stockings, little fun treats and sweets that their mother would NEVER buy them.
As they got older there was never a big list done for Santa, I would get them to write a letter and they would ask for a present for themselves and something to share with sibling or a surprise. When we visited Santa, he would be shocked at DC asking for Lego and a surprise, and no amount of coaxing would elicit any more wants.
And the really unexpected part was that I had to sit down with my DC when they were older and explain about how Santa really operates. Keeping it low key actually kept them believing for much longer.
Now we have a pair of teens on our hands, I'm no Scrooge, but the money we save on Christmas past gets used in the present, not necessarily on wrapped presents but experiences/days out/trading up to the next size musical instrument/extra dance classes etc - largely money spent in the local economy. I'm a firm believer in the magic of Christmas. I firmly believe that throwing money at it doesn't have to be part of the equation.