Is it ok to give baked goods as gifts from now on?

It was ok to give gifts at first, when I only had 3 friends. Now I have 6 friends; 2 of whom I have to ship gifts to, as they’re overseas. Gift giving is getting really expensive and crazy. I’m wondering, as I’m a good baker, if I should just bake a cake or muffin cakes for my friend’s birthdays and for Christmas from now on? It would save me $400 at least a year on gift giving, as I’m actually quite poor. I also want to give better gifts, like significant amounts of money to my parents, who’d never expect anything, but who need the money. Maybe flowers to both my aunts in future and whatever small things I can find for my cousin. Like books, second hand good quality jewellery, or a nice top.

Is it ok to give baked goods as gifts from now on?
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