We've done lots of no-cost and low-cost exchanges with friends in our homeschool group....
The kids will do a book exchange where they all wrap up a book that they've read and will gift it to another kid of a similar age. Sometimes they include little toys from fastfood restaurants or a dollar store item too. In any case, it never costs more than $1 per kid.
The moms will swap only handmade items...and I suppose this year will include baskets with freebie items.
And we have our annual Re-Gift party on the day after Christmas. The one rule is that nobody can spend any money for the party. Everyone brings leftover food and re-wraps a gift that they received...and think that perhaps it may be better loved by someone else. We do one of those gift exchange games where you can unwrap a gift or steal someone else's until everyone's had a turn. It's probably our most fun party of the year and it's a great pick-me-up on the day after Christmas which can be a down kind of day for some folks.
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