I clearly remember saving all the money I'd earned, then having to decide how to budget before shopping for my loved ones, often having to supplement my meager funds with homemade presents.
When my father died, I had been gone from the family home for almost 40 years, yet when I was going through the house, I found many gifts of no monetary value my parents had kept, and almost none of the expensive things I'd bought them latter when money was not an issue for me anymore.
The best things I ever got were those that Dad and I played with together….model airplane kits, fishing gear, etc.
There is nothing you can ever give your kids that they will remember more fondly in their latter years than your time and attention