I save old CHristmas cards and cut them up to make gift tags. All of our presents are wrapped in brown craft paper (which I buy at MIcheal's with a 40 - 50% off coupon). Add Christmas ribbon (purchased on clearance the previous year) and viola! Cheap, but really cute wrapping.
Research! When it comes to buying a gift, we research like crazy to find the best deal...we don't shop on Black Friday...too crazy!
My friend is slowly changing out all of Christmas lights to LED lights, which are supposed to be more energy efficient. She has been buying what she can after the holidays when it's discounted.
Get creative with gifts, think outside the box. We are close with two families. Exchanging gifts was becoming really stressful and very expensive. So now we don't exchange gifts. Instead we pick a Christmas activity we probably would have done any way and make it a group event. The kids love it! My best friend and I no longer exchange gifts at all. Instead, we wait until after the holidays and have a girls night out just the two of us. Much less stress, cheaper and much more enjoyable.
Back to the basics. Instead of tons of expensive crafts with the kiddos, we do simple things like making strings of popcorn.
Don't forget the Dollar Store. Last year I helped a friend with a Christmas party she was throwing. She was planning on ordering expensive dishware and decor. I convinced her to try the dollar store. She found some great stuff perfect for the evening and spent a fraction of her budget. Red and gold plates that looked great. She was thrilled! I have also picked up decorations, table cloths and stocking stuffers at the Dollar Tree.
Can't wait to read the other ideas! Merry Christmas!