Solutions for large gift lists
Be critical when you evaluate your gift list. If you haven't seen Aunt Edna in 10 years, skip the impersonal gift and send her a letter with a family photograph enclosed.

For a group of people such as a large family or a group of co-workers, Family Life magazine suggests a small single donation to a charity. Give each of the people a card commemorating the gift in their name.

Homemade trimmings
Store-bought wrapping paper can be costly and wasteful. This year, try making your own wrapping paper using brown paper bags or white butcher paper, craft paint (silver and gold are festive colors) and stamps you make yourself by cutting shapes out of sponges.

If you like to cook, enlist your family's help in making traditional recipes that reflect your family's heritage. Not only will your treats be welcome gifts, but this is a good opportunity to discuss traditions with your children and even create new ones. Keep in mind that cooking multiple batches at one time can save you money as well as time if you're able to buy ingredients in bulk.

Season's greetings
Buying fancy holiday greeting cards and stamps can be expensive. Instead consider sending a mass holiday e-mail to those friends and relatives who are online. (This works in lieu of expensive long-distance calls, too.)

Or, you can opt to send scenic postcards of your hometown -- these are usually cheaper than cards, and cost less in postage!