This is not just this year, but a general trend for me is cutting back at Christmas:
We've stopped air travel at holidays. We will though do a driving trip up to see my dad for Christmas and keep this driving trip up for either Thanksgiving or Christmas each year. Dad is just six hours away. For both Christmas and Thanksgiving we used to travel (air) for at least one of those holidays (lots at Disney/Orlando too) and very often both Thanksgiving and Christmas. We have lots of reasons for this change - not tied to a school schedule, more vacation time, so can travel at nice times of the year vs. needing to fit in visits to farther away family and vacations at holidays, not as interested in Orlando (common place for my side of the family to get together), Mother-in-law in New Jersey is deceased and we aren't doing the annual trip to New Jersey to see DH's other relatives (sister, niece, and nephew) in that area with her gone, it's so expensive to travel during the holidays, and everywhere for vacation is so crowded during the holidays, etc. Love skipping that after doing it for so many years/decades really.
For Gifts overall spending is down for this year over last, but is higher than in the past for two people
-- DH and I have never exchanged.
-- I still do something for our 20 something grown son and his boyfriend, but have cut back on Christmas (do a lot during the year for them) // just spending 1/3 of what I did last year for Christmas. But last year I got them a washer and dryer for their new apartment.
-- I usually get something little for my dad -- am doing more than normal this year -- bringing a Honey Baked Ham and getting up a replacement cordless landline four phone system that I will setup for him. He's 86 and has been having problems with his landline phones. (spending about double what I normally do -- two things instead of one). The honey baked ham is more for us, though -- We just love that for Christmas. The phone is because his just recently started giving him trouble, so that's the perfect thing to get and he'll appreciate my setting it up for sure.
-- For my brother I now just send him and his family a $12 box of these really yummy chocolate covered almonds.
-- Have stopped gift exchange with everyone else.
More charitable contribution to more distant family than gift exchange BUT:
-- I spend about $650 every year (check, visa gift card, and peanut brittle) for one super sweet cousin who has disabilities and lives in section 8 housing. I put aside $25 each paycheck so this doesn't seem like a burden to me or overly excessive. Used to adopt a family I didn't know thru church spending about the same, but do this now for this very sweet appreciative person who is way worse off than those families instead. He does the best he can with his limited means and is very thankful for everything he has and is thankful and feels blessed that he can get by (very thrifty and a very impressive attitude). I started that about 10 years ago. Have not despite inflation upped that. With DH retiring though our income is lower, and I haven't lowered that either.
-- I have another cousin (cousin above's brother) who went into assisted living during Covid (nice place I think -- poor guy though is not doing well, is really messed up). I have never exchanged or gotten holiday gifts for him before. He though told me he was really was interested in a digital frame with digital photos of family, so how could I possibly refuse anything like that that might give him a little joy. My son converted old family photos to digital and I got a digital frame, loaded photos on a USB flash drive, set if up the way I think he'll want it, and just mailed it to him with this put together so he doesn't need to do anything or have staff do anything. All that has to be done is plug it in (no need for WI-FI), and I'm sending this to the director of the group home and he will have one of the staff plug it in, in a good place in my cousin's room. (This cousin lives a good 18 hours away from where I live.) Will probably just go back to a nice card next year. This year was an exception.
Sometimes less is more.