We are definitely spending less.
While the kids are not going to miss out, we've certainly agreed as a family to spend less. We've done secret Santa this year between the adults which has saved everyone a lot of money plus we've cut back on the food and drink we usually buy. This however is a good thing as I think in the past we have been guilty of buying far too much of what we don't actually need, although I have to say I am not as guilty as some shoppers I see panic buying in the supermarket in the days leading up to Christmas, where they hyperventilate at the thought of not being able to offer their guests every single flavour of crisp under the sun, and they buy enough bread and water to last a Nuclear Winter as opposed to two days.