How to politely stop exchanging gifts with someone.?

Question

I have worked with my current boss for five years, though I have been with the company more than 20 years.  We are similar in ages,  both early 50s.  She started with the company in January, my birthday came in June.  I never exchanged gifts with anyone in the office but she got me a very expensive handbag.  So I got her something for her bday, but less expensive and the gift exchange has continued since for bdays and Christmas.  Her gifts to me have always been more expensive than what I have given her.
Is there a polite way to end this gift exchange?  Part of it is financial, but I'm not crazy about the woman, so spending money and figuring out what to get her is a real chore.  Any suggestions would be great re how to end this.

House825 · Accepted Answer

Maybe you can say, "You are always so thoughtful to me, but things are a bit tight now with the prices going up on everything.   Let's not exchange gifts this year.   Maybe, if you still want to do something,  you could spend the money on a child who otherwise won't get any Christmas toys, such as the local Angel Tree program.   That would be the best present you could give me."

L D · Answer

I would simply tell her that she shouldn't spend money anymore on you. And you feel bad. So, basically, you are turning the situation around, saying you don't want her to buy you anything. And if she insists, then when it's her birthday, simply give her some homemade cookies. She'll get the idea, and either give you baked goods for your birthday, or nothing at all.

Chris B · Answer

Politely tell her you can no longer afford to do this.

How to politely stop exchanging gifts with someone.?

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