My children have so many toys that they don't need a whole pile of presents. We get them a few small things that we know that they will like and make them feel special but we don't overwhelm them with gifts. That is both just silly and a waste of money. We spent $22 on Jacob's gifts, which consisted of the two toys below and a ColorWonder Toy Story coloring pad.
We often times buy a bakery made cake because the kids want one. This year Jacob had fun making a cake with me and enjoyed it just as much. It was only around $3 to make.