Tip 1: Buy Little Gifts for Little Children
For little children, get little presents. Very small children are generally delighted with almost any age-appropriate little toy or interesting item that you give them. If the item is wrapped in pretty paper or has a balloon attached, the children will be even more excited. There's no risk of an awkward moment in which the children report to their friends that they didn't get the really expensive doll or whatever.
Parents often joke about how they bought expensive gifts for their toddlers and the kids were more interested in the boxes. Although we may have enjoyed big, fancy gifts as children, the toys we played with endlessly were small green plastic soldiers and dolls with removable clothing. Spend less money on the little ones and apply the money saved to presents for the older ones.