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Never heard of that. To me, if someone gives me a $10 gift I’m fine with that.
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Does your family and friends do this? If someone in my family can’t afford something and give no gifts at holidays, we really don’t care. >

It's not just for those who can not afford it. Even those that can afford gifts, they're still socially obligated to buy gifts for birthdays, holidays, special occasions.. 
And whether the family or friends hold you accountable, the people still often feel obligated whether the gift is expected or not.