My husband has 5 sisters years ago when we all had small kids we each bought something for all of the kids. Then for the adults we agreed to give each other the same every year (1 gift for each set if parents) we gave a family picture, a favorite recipe and a Christmas ornament. I for one loved it and have all of the recipes in a book all the kids pictures and almost ll of the ornaments. (some have broken) it was a great way to share something and not burden others with the stress of shopping, or cost of a gift Then as some of the family's moved and we stopped sharing Christmas day that tradition died out and we started drawing names for the kids only , and only the ones that would be there on Christmas day. they got one gift from grandma and grampnda and one from the cousin that drew their name. That worked well for a few years till twice one of my daughter didn't get a gift...."oh we left it at home we'll send it". . Nope never happened so the following thanksgiving when we traditionally drew names I ended it.
A few of us still get together on or around Christmas day, we just eat hang out and remember when all the kids were young and how much fun it was to have them all together.
The only Christmas gifts we buy now is for our 2 daughters, their current boyfriend and my best friend and her husband and 2daughters. Easy peasy no fuss no muss and I never feel stressed or guilty over any of it.