I just saw some poor guy on tv who'd lost his job. he has, among other responsibilities, a disabled child. that is really rough. I know many people are in similar positions and I really wish them well with getting a new job and being able to continue helping their families. of course, he was also concerned about what to do for christmas.
I will share a little secret I remember from my childhood... kids will ask for EVERYTHING because they have no clue how much stuff costs. however, most kids don't expect to get most of that stuff. they just want to get something off ther 30 page list. maybe 3-4 somethings, but certainly not everything (unless you have spoiled them to an insane degree or unless you are so rich you really can buy anything they want).
if you get the paper, save the colored funny pages (or get someone to do this for you). this makes great gift wrap, especially for kid's stuff. look at your junk mail, those cards that fall out of magazines... anything... cut out cute images and use these to make decorations for packages. sometimes you can get free gift tags here and there, but if you don't, use plain paper and these decorative objects to make your own. doing this allows you to cheaply wrap more packages. and that, in turn, makes it economically feasible to wrap you kid's presents in ways that make it look like the most packages. kids LOVE to unwrap stuff. so, wrap up as many as you can, even stocking stuffers, in this cost effective manner.
if you make cookies right before christmas wrap these up! you can use one of your resealable bowls since, if it's your own kids, you'll get these back. if you're giving them as gifts, you can get little containers fairly cheaply.
if your child has a doll and you can sew, make some outfits. if the child doesn't sleep with the doll, you might dress her in the new outfit and put her under the tree (unwrapped) as a surprise from santa.
remember, your children love you. just do your best... try to think of fun activities to add to christmas fun. also, be on the lookout for bargains! :)
good luck and happy holidays. :)