Yep, we're cutting back. Most folks are getting souvenirs from when we went to Africa last month, which cost like .50 each because a dollar goes a long way over there. I bought my wife a meteorite. It was $70 - not too bad for something that comes from space.
I guess I could say we are cutting back, although my husband and I never really went nuts about it. We are both lucky we have families that focus a lot more on being together and enjoying each other's company. This year we are going to spend Christmas Eve at church, cook a big dinner and watch my daughter (the first grandchild) play with a few new (SMALL) toys and watch christmas movies. That's all, very low key, yet it will be the Christmas I have most looked forward too in a long time.