We don't have a set amount that we stick with but I try to budget as much as possible. For example this past Christmas my husband and I decided we wouldn't buy gifts for eachother (it helped that we didn't want anything), we would just focus on the kid's presents (our two kids, plus our two nephews). I go all out of food and baking though. And I usually set a "decoration fund" limit. I would rather buy new decor than to receive a gift anyway though. And I start buying early in the year so when the time comes I'm not breaking the bank! In our circle of friends and family we don't exchange gifts with the adults, everyone just buys gifts for the kids. It helps all of us to stay within a reasonable budget.