I think this is a great idea! I'm very cheap, so this will work well for me.

My daughter is really interested in homemade gifts right now, which is great for our budget. We went shopping yesterday at Michaels, the craft store, and she bought materials to create homemade stockings. A fun project for her and us.

Last year, my mother-in-law did something very special for me and my sister-in-law. She is a scrapbooker, and she used that skill to make beautiful cookbooks for the two of us. She included recipes that my husband and his brother enjoyed when they were little, and she handed them down to their wives for the next generation to enjoy. She even added old photos and stories of family events where the recipes were served. It was one of the most touching and meaningful gifts I've ever received, and it cost her very little. A year later, I have my cookbook proudly displayed in my kitchen, and I use it all the time... especially the caramel apple recipe!

And then there's food! If you have a favorite recipe (walnut orange cake, cornmeal lime cookies, chili . . .) make it to stock the freezer of a loved one. Give the gift of dog-sitting, baby-sitting, shoveling, an oil change, a new garden gate, whatever level of service your skills allow.

Baking or preserving is also a great way to give wonderful gifts without spending a lot of money.

I am planning to make cinnemon rolls this year to give out to friends...other years I've given out homemade apple butter, tomato jam, pickles, apple pie filling. Recipes and techniques are readily available online, so it's as easy as finding the time (if that's easy).

Yes, food! My wife and I have a tradition of making caramels and fudge for our loved ones at the holidays. We always make a bunch so there's plenty on hand if we need an extra gift on the fly.

And then there's food! If you have a favorite recipe (walnut orange cake, cornmeal lime cookies, chili . . .) make it to stock the freezer of a loved one. Give the gift of dog-sitting, baby-sitting, shoveling, an oil change, a new garden gate, whatever level of service your skills allow.

Growing up, we always received "Coupon Books" from my parents. The coupons were things like "You Decide the Dinner Menu" and "A Movie Out With Mom and Dad". There are so many items that you can put in a coupon book: A Backrub, An Extra Hour of TV, Game Night, etc. They were super fun to get and even more fun to "cash in".

Countdown Ball - great for kids to make or get!

For a multi-day holiday, or to countdown to a big event, one fun way to make little gifts more memorable is to wrap them into a countdown ball. Buy some crepe paper (party streamers) and several small things like jewelry, whistles, small action figures, etc (or throw in a few slightly larger items.) A dollar store is often a great place to shop for supplies.

Then start wrapping: take one item (this will be the last to be unwrapped) and wrap it well with crepe paper - but don't tear off the paper. Add in another item, and wrap until it is obscured. Repeat this process until you have as many gifts wrapped into the ball as you need to count out the days. Recipients then unwrap one item each day to count down!

Tips:

• Stickers or temporary tattoos make great fillers - buy a sheet and cut it into smaller pieces
  
• Dollar stores or toy stores also often have little toys that expand in water - packs small, but the experience of "growing" it makes it more interesting.
  
• You can tape down the paper, and/or number it between items to prevent over-unwrapping

I love mixing custom CDs as gifts. It's really fun to look at your iTunes library (or however you keep music) and select songs that fit an individual's taste, celebrate a milestone birthday, graduation, wedding or commitment ceremony, etc.