Sometime after my friends and I were all in college, we realized that Christmas is expensive. It wasn't as much of an issue when we were living with our parents and not having to worry about buying text books, paying rent, etc. We decided that, instead of having to buy each other all presents, it would be better to just do something as a group that we didn't normally do.

So we started an annual tradition of all of us going to a restaurant in Royal Oak, MI called La Fondue. It was great. It was an expensive evening, but it wasn't as bad as having to buy presents for everyone, and we all had a great time. La Fondue was closed last year, so this will be the first year in a long time that we won't gather there for our holiday party. This year we're going to see the Trans Siberrean Orchestra at the Palace in Auburn Hills, probably with dinner before at someone's house. It won't be the same, but we'll still be together.

I highly recommend suggesting a similar idea to your friends and family, even if money isn't a problem. It takes a lot of stress out of worrying what to get people and brings back the spirit of the holidays. (And you won't have to worry about getting someone something they already have).