Kate Hudson: I’m Cutting Back, Too

Like millions of Americans, Kate Hudson says she’s cutting back this year, according to People. She’ll still spend the holidays skiing in Colorado, but instead of buying expensive presents, she’s creating her own gifts.

Hudson says she’s knitting something, although, in the interest of keeping the surprise, she declined to give many details. “We’ve always been pretty crafty anyway,” she told reporters at a press conference for Bride Wars, her new movie co-starring Anne Hathaway. “We all knit. The girls knit. This year I’m doing these great big knit…well, actually I shouldn’t even talk about it because I can’t say it!” she said.

She's not the only celebrity to adopt a new code of frugality this season -- Oprah has already announced that she's doing the same.

Considering following Hudson's example? For do-it-yourself project ideas, check out this interactive graphic.