Well, in your situation it is a little different... 1 child to 3 cousins. In our family, we used to buy for ALL. Between my husband's sisters and brother, plus our 2 girls, there are 10 kids. The last 3 or 4 years, we have just drawn names. Each kids name gets put in a hat, and each kid gets to draw 1 to buy for. (It can't be one of their siblings). So if you have two kids, you buy two presents... and you give what you get, I guess. We try to spend around $20/kid usually.