I've done this in the past too. I am also a member on OrganizedChristmas.com. Last year, I read something that changed how I bought gifts. My kids each get 4 gifts from us and here's the rhyme:

Something they want
Something they need
A game to play
& a book to read.

That makes it really simple. Now, Santa tends to get carried away...now if I could just control him!

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Ordinary riches can be stolen; real riches cannot. In your soul are infinitely precious things that cannot be taken from you. ~Oscar Wilde

I have done that sooooooo many times! Now when I pick up gifts for xmas, I wrap them immediately and take that person off of my list. I also have a bin in my closet that is clear so I can see the stuff stashed in them for birthdays, etc.

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Blessings, Susan