I've completely stopped with adult present giving and receiving come Christmas and I much prefer it. I have two nephews and two nieces whose Christmas presents are all bought and I'm done for the season. My two best friends and I are going out for a few drinks and that's our gift to each other. I've never bought presents for my parents as they always said that our money is ours and not to spend it on them, and I'm not going to start now.
I'm working, I'm earning my own money, and if something comes along that I want, I buy it. I have everything that I want (that's reasonably priced, of course) and so there isn't anything I really want or need gifted to me. Of course, if someone does decide to buy me something I will be grateful but truth be told, it would only be something I could do without, in which case I think 'please don't spend your money on me, keep it for yourself' ,(I finally understand my parents now).
Obviously it's a personal thing, and some people love to give and receive presents at Christmas. I'm just glad none of these people are my immediate family

I know some people might accuse me of being a Grinch but with money being tight, and friends and family having mortgages, rents, bills and babies to pay for, I'd actually be happier knowing none of their money is going on me this Christmas.