The gifts I've remembered the longest and with the most fondness were the ones that we gave each other the year that my mom told us that the only way there would be presents under the tree would be that we made them ourselves for each other. Some of them were a little dorky, I grant you, but there was no more money to go buy craft supplies than there were for presents. A lot of playdough ornaments painted with waterpaints were in that lot.
Santa Claus came through (my mom's co-workers gifted her with fifty dollars and a fruit basket and kicked her out to go shopping on Christmas Eve day) but the home made presents were the ones we treasured. And we spent most of Christmas day making more ornaments, playing board games, and singing carols.
There were a lot more home made presents every year after that one, and I truly love being able to look at a comforter or a creche and say, "That was made just for me."
It may be hard on the ten year old, but I'd say you might want to concentrate on _making_ Christmas this year, for yourselves and others too. It may not look as pretty, but you'll be able to look at it a lot longer.