About five years ago, both my family moved towards a round robin with a specific theme and small limit (examples have been coffee/tea, book exchange, and 10$ gift card exchange.) we did the whole stealing presents thing so it was a fun family memory. All were super fun, cheap, and low stress. So that is easy.
At about the same time the in laws, who had been doing a gift exchange, which had devolved into exchanging 20$ gift cards, finally cancelled their exchange.
So we spend blissfully less on gifts, but still a kind of ridiculous amount when I total it up.
$100 on teacher gifts*
$75 for H and I (often a combined household purchase)
$150 for the kids probably, with Santa and stockings included
$50 in laws (would love to eliminate that as they are grown ass adults who don't appreciate stuff, but H feels strongly)
$25 niece (though often less as I bargain hunt)
$100-200 extra groceries
$100 misc like Christmas tree, and other thighs I am probably forgetting.
So 600$.
*before anyone calls me crazy for the teacher gifts, between two kids we have 2 main teachers, an aide, a speech therapist, occupational therapist, physical therapist, 3 bus drivers, art, music, and gym teachers. My older child has special needs and can be a real pain in the rear at times, and it like to thank the teachers for all the extra time they give him. So 12 teachers. I am going to actively try to reduce this spending this year, by giving home canned goods, but those do have a cost too.