I HAVE started, and now have all the gift wrap, bags & bows I should need for birthdays & Christmas for 2009, bought at deep post-holiday discounts.
My two oldest grandchildren & one DD have expressed a desire to collect nativities "like Grandma", so I have been looking for those the same way I collected mine, from thrift stores & garage sales. I found one of the frosted glass sets that sit on the little mirror, but am not sure to whom it will go just yet.
I have set aside a couple of hundred dollars from a paycheck with overtime to sit in the thrift account & earn interest while I find the right gift for each person. Not exactly a Christmas savings account, but the same idea. I buy for DH, DD + husband + 4 grandchildren, DS + wife, and 2 single DDs. The DDs are good about giving me a wish list before October, but DH & DS usually wait until Thanksgiving, which makes the shopping more stressful. 11 people can get expensive unless I buy carefully.
I just found some cotton flannel sheets at the thrift store, in perfect shape, with white cotton background & dark green snowflakes. The flat sheet has a border with Santa in a sleigh, but if trim that off & open the corners of the fitted sheet, then piece the two, I have a very nice backing for a jeans quilt. I am not sure for whom it will be made, but that is still in the planning stage. If I make one for either DD, I iwll need both sheets to piece for the backing. If I decide to make twin sized quilts for grandchildren, it might be possible to get backing for 2 out of the sheets, since all four of the grandchildren are in bunk beds, which need slightly more narrow quilts, & I may go that route.