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Wrapping paper and bows/ribbons. THey're just gonna get torn up anyway, no reason to spent a ton of money to make it fancy
My grandfather used to wrap our presents in the comics pages from newspapers when I was a kid. I loved it.
Same for me. It was easy for him to spot which gifts were from him when bringing them to our house and putting them together with the other gifts too, so that was another win in his book :)
I had some older relatives who would use the Sunday comics as wrapping paper, and I'd open the gifts carefully so I could read the comics when I was done.
I just use brown kraft paper and some basic ribbon in a color appropriate for the occasion. I think maybe $15 in materials has given me a solid decade of gift wrapping and I haven't even gone through half of it yet. Costs basically nothing on a per gift basis, and I get way more compliments on my wrap jobs than I did before I switched to using brown paper.
I had a friend wrapping gifts in the free maps you could grab at the post office and library. Those always looked cool.
Gotta love the wrapping paper so thin you can see the gift under it