S.T.
I remember telling my family that this is a Christmas that they can enjoy gift free. Most kids really need very litte until they're about 2 or 3 - even then kids have way too many toys. I'd go with the college account suggestion from Denise P. below -. My inlaws actually went into debt buying all these expensive presents for my kids and I used to beg them to instead buy a small gift and deposit the money they'd otherwise spend into their 529 account. I even gave them the deposit slips! Nothing. Now they're teens and we have bins of American Girl dolls & accessories, race car & train sets, etc.