I purchase what I want for my kids and granddaughter. I like to buy them something they would not be able to buy. Some years I give them cash along with the gifts so that they have a stressfree christmas. My father inlaw would give us all cash the week before Christmas - 50.00 for each member of the family for us to go Christmas shopping. We loved it...helped us and keep us out of Christmas debt. I never did the family gifts besides my parents...well we did a few times, but it was sorta weird...many times we just got gift cards/same amount...pointless...I rather just have visit time without the gift. I do not want or expect high dollar gifts from my kids. I am very happy with a photo, book or whatever. They always find something we love and they do not have to spend a lot...its not the money its the thought.
For my folks I get them gift certs so they can get out of the house and go shopping or out to eat. They are retired so tight budget.