I stopped buying christmas presents years ago, it all got too stupid and meaningless. I only send four or five cards now, and they only go to people I rarely see.
OH and I exchange token presents, and we each have a strict budget of £10. His birthday is in November so I spend a lot on that instead of Christmas.
He buys presents for his immediate family and we split the cost, because they insist on sending me gifts. It's lazy on my part, I know, but it's his family, not mine!
Just before Christmas I donate the cash I would have spent on presents to one or two of my favourite charities.