This is intended to be the first of a series about that annoying fat elf that isn't really jolly he's actually a little crazy. Seriously, who laughs like that? Maybe it's all the cookies.
We confuse kids and ourselves with saying this is a season of giving when we treat it as a season of getting. We have them makes lists and write letters for all the stuff they want. We are focusing on what they are going to get. Then, maybe, give them just a little money or some craft supplies to make a few gifts. It is almost an after thought. The season is really about what they are going to get from Santa if they are good enough that is.
If you want it to be a season of giving focus on the giving not the getting. Make a list of who you are giving gifts to. Brainstorm together what special thing someone might like. Help them think about people who may need a little extra who may not have much at all. Refocus your list to reflect your values.
I guess if you value debt and stuff, then by all means make a long list for Santa.