This probably sounds crazy but we finished our shopping on February 1st. I've even wrapped and labeled all the gifts and my husband boxed them up so that don't get dusty between now and December.
I spent $110 and bought for 35 people.
It all started when my husband and I ran into Borders to pick up the January issue of Mothering magazine. He has a Border's Rewards card and had like $4 free to spend, so he said I could use it towards a copy of Mothering. We are thrifty people and I made my usual demand that we buy nothing else!

However, just after we paid and were walking out, we saw this wrack of nice holiday books all marked $1! Ok, I'm not talking paperbacks here - There was a $35 illustrated Nutcracker book for $1! A lovely hundred-page Holiday Cookbook with a picture of each recipe.... Boxed sets of three board books with sing-along holiday CD for the kids... each just a $1. I didn't believe it, but the manager assured us that just the night before she had marked everything Christmas/holiday related down to $1 for immediate clearance, and she was even willing to go in the back and look for more items for us. I must have bought more than 25 items, and at only $1 a piece I was psyched. The kits I bought for kids are more than enough for the little one's on my list and with a price of $15+ normally, I don't think they will think I'm cheap! I'm giving cookbooks and a book on the history of Christmas in the US to grandparent in-laws. Awesome.
Next, we were in Famous Barr a few days later, and they had marked all ornaments $1. I bought these beautiful $35 Santa ornaments for $1 each! Great for most of the ladiess on my list. There were even some glass bulb ornaments that worked great for the anti-santa women on my list.
I needed something for the men - so I told my husband be on the lookout. One night at JcPenney's we found these beautiful leather wallets in wooden boxes, regularly $25 for only $5! Yep, bought one for each fellow on our list.
At this point, I thought we were done and it was still January! Then on February 1st, at Bergener's we found these beautiful Pyrex glass baking dishes (13x9) boxed up with a holiday snowflake holder so you set the pan in it on the table for a festive look. We picked up 4 of them, and officially ended our Christmas shopping for 2007.
At home I wrapped them in leftover Christmas wrap from last year, and when that ran out, I sewed reusable bags from $1/yd marked down holiday fabric from Joann's.
I am most happy because I plan to be very pregnant with our first child next Christmas and shopping and wrapping will be things I won't have to worry about.