First, Thanksgiving:
My DH doesn't like turkey and I am a vegetarian. My kids now think most people go to Golden Corral for Thanksgiving.

Way cheaper and more fun than cooking a big dinner when nobody in the house would like it anyway. We started this two or three years ago, and it's becoming a family tradition for us! We don't have family in the area, plus we've explained to both our parents that we chose to visit at other times of the year. No holidays with them. Way too stressful. At first we felt really pitiful about going out to eat, but now we do it then go home and bake and start putting up the Christmas tree.
Christmas:
We discovered a couple years ago that a fake tree was so much cheaper than buying a new tree every year. We went out one night and the only real trees we could find were around $50-60. We went straight to Target and found a great fake one for that price. Now, no big payout each year.
I usually make a baked goods basket for each family each year. I'm thinking of changing that this year, but people have actually commented on how much they look forward to it, so we'll see. Last year I made non-decorated cookies for the neices and nephews and included sprinkles and a box of confectioner's sugar so they could decorate them.
My kids get most of their presents from clearance sales, Goodwill, and garage sales throughout the year. Usually still wrapped/tags on. I stockpile them through the year, don't let DH see, then he thinks I've gone out shopping.
