Tip #1: Most of you probably bag recycle, what mom doesn't. We have a huge plastic tote full of gift bags. So I always have one to pull out. However... I seem to have more girly bags then boy bags. So for the boy parties we decorate our own. I find a printable coloring sheet online with the party theme and my son colors the photo and we attach to the bag to a plain colored bag. So we save $$ by not buying a new bag and we use the color sheet as the card. I don't buy kids cards because they just get thrown away that saves a few $$$.
Tip #2. Now the gift purchase.... I have a present stash. I would photograph it but I don't want anyone to see the gifts.... When I run across great deals on gift items I buy them and put in my stash. If I don't have a good gift in my stash I simply drive down the road to Ross, they have the best selection of kids gifts. Some items they carry at Target and Wal-mart but at least 50% off. Gotta love Ross!