My family (either mother's nor father's) does the gift exchange thing. We don't even do the meet up and eat together thing often. So it's sort of nice when we actually do get together for the holidays, even if it isn't on Christmas necessarily. Everyone's getting older, so it could be sooner rather than later that I won't be able to see some of them.
Also I have awesome cousins who are less than half my age. They help remind me from time to time that life is actually pretty cool and that I shouldn't sweat the small stuff. So Christmas (or at least the holidays) are pretty alright, presents or no presents.
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