I would say running out of funds these days is more of an issue.
I gave up gifts a long time ago, I don't want children thinking that's the reason for the season. A heartfelt card is always nice and cherished.
More inportant than money are the words from your heart, money is spent, but your sweet words can be cherished for years. When I am down. I often read cards that I have cherished from years gone by. It warms the heart and soul. Think what makes that person special to you. It does not have to be long just honest, kind words.
we did that because we were so many so we started with secret Santa gift swap instead, everyone writes a wish-list and then someone (usually my son) makes the swap and you buy for the one you got. So everyone gets one gift and then we can spend money on the kids instead.
The best gifts are practically free and creative - its the thought behind the gift is the most important thing about giving. So I'd say "why bother" if your intention for giving isn't what it should be.