Home made christmas decorations

Buy some cloves and stick them into an orange/satsuma (smaller. )Put a bright red ribbon around it. Gives a lovely christmassy smell. you can give them as gifts or use as decorations
Decorate an empty jar & place a tealight inside. Perhaps make an acorn ring to go round the base
Make your own wreath for the front door - you can usually get holly from patches of woodland, or pick up a bunch cheaply. If you aren't artistic, try tying some holly and mistletoe together in a bunch with festive ribbon. Looks lovely.

For cheap-ish presents, homemade stuff is always good. Homemade chocolates or biscuits in pretty boxes - shortbread is the cheapest and easiest thing in the world to make, and is always popular. You could even ice christmas shapes on each slice, or drizzle melted chocolate on them.