A great way to save money on Christmas gifts is to give homemade gifts. This requires some planning so if you want to give homemade gifts then start planning now. Search for craft ideas and recipes (Pinterest is perfect for this!) and start to purchase supplies (look for sales, coupons & clearance items). If you have a plan, you will save both time & money.
If you like to give portraits as Christmas gifts, you can also start planning for that now. There is plenty of time to purchase outfits (sales, clearance, consignment shops/sales, garage sales & thrift stores) and decide if you want to take the picture yourself or have a professional photographer take the picture.