Christmas shouldn't be just about getting presents.
If you don't celebrate it just because you can't shower your kids in gifts then that's very sad and not teaching the kids much.
When we were young we had nothing, often just a stocking with 1 toy, 1 orange and a new dress or something inside. But we LOVED christmas! It was all about the excitement of the day, a day that brought hope and thanks for the family we had an love we shared.
Sorry if this sounds harsh but cancelling Christmas for your kids just because you have no presents is incredibly selfish, they wont care, they just want a happy day filled with love and kindness. Why can't you make them things, you can find instructions on the net for making all sorts of things! You can make decorations, you could make crackers from loo roll etc. it doesn't cost a lot!
Last year Freya had loads of toys, the meaning of Christmas was lost, this year will be different!
You could play games with them, it costs nothing and yet they love the party atmosphere!
Jeez! What a sad world we live in