I'm with Monica, we do our best to get wish lists out of everyone, we do that for birthdays too, so if I don't get a Christmas one in time, I can look back at their last birthday one. I like to make presents if I have time, eg sewing a road mat for DGS to use with his cars, his parents are delighted.
I always include a gift receipt with clothes (unless I have made them!) but generally I get it right, and I love watching people unwrap a present I have taken time to source and seeing their faces light up. Only spend about £20 each as we have a large family.
For us, I can't see the point in giving money, three of our four children earn much more than our income, and as the other struggles with gluten and milk allergies, I can make him a selection of things he would find hard to get in the shops, or buy him something to keep him warm.