If you are a Christian, give to the poor.
If you are not, why let marketing and commerce bully you into feeling guilty for not buying presents? People are just trying to make money out of you. They want you in debt.
They want you spending more than you can afford. Your greed finances their greed.
If you recall the Charles Dickens story A Christmas Carol you may remember that celebrating Christmas traditionally entailed giving gifts to the poor.
This is seldom the case these days...
There is nothing miserly about rejecting consumerism.
Do whatever you want to do.
Don't be led by advertising or peer pressure.