Some of the things we do to cut costs around the holidays are:
Buy baking ingredients when they are on sale then freezing or storing them in airtight containers until needed.
Shop where they match the lowest price.
Shop when they are giving cash or store credit back when you spend a certain amount to really stretch your dollars.
For the gamers in your life, a Gamefly subscription lets them play all the newest games without the huge expense.
A popular gift here when we have to shop for families - instead of several cheap items we get one family gift or make up a movie night or game night gift basket.
One final tip- save some of your money (or be like me and ask for after holiday spending $ for your gift from the hubby who has no clue) and you can really score and get a lot more for your money. Stock up on decorations, wrapping items, seasonal items like Christmas Eve PJ's.
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