You can also tell them to please not expect a gift from you this year...you would love to, but can't. Leave the "giving" up to them.
A lot of people are being hard hit by financial times these days, and your talking to them about this might be a huge relief for them! Maybe they need to scale back too, but are scared and embarrassed to do so.
The coupons ides is a great one - you could do really nice ones on your computer.:)
HUGS!