My grandmother never tired of telling us about her first Christmas as a married woman during the Great Depression. There was no money for gifts or a fancy holiday feast, but my grandfather lovingly made her a cup of hot cocoa that morning -- the best cocoa she ever tasted -- from a splash of hoarded milk and a melted chocolate candy he'd bought for a penny. It was a breakfast she never forgot, and no lavish present ever moved her more.

As we face the holiday season with worries about stretched budgets and shrinking retirement accounts, gifts from the hearth seem more compelling than ever. We've put together a varied collection of recipes aimed at pleasing everyone on your list. None requires particular culinary skill or pricey ingredients, and all will say you care in a very special way.

MARSHMALLOWS

I love marshmallows, and was struck by how much better handcrafted ones taste when I received them as a gift. Later I was stunned to spot a package of 15 for $16.50 at a kitchen shop.

It turns out they're quite easy to make, and the ingredients -- sugar, corn syrup, unflavored gelatin and flavoring -- are inexpensive. I read recipes by Maida Heatter, Martha Stewart and many others and came up with my own adaptation. (Though some recipes use egg whites, I stuck with the simplest formula.)

A batch of marshmallows yielding 100 one-inch squares costs about $4.50 and produces six fine gifts of 15, plus extras for snacking. (The most expensive ingredient is the gelatin at $2. You also must have a candy thermometer.)

You can substitute other flavor extracts and/or add food coloring or make a caramel version by using brown sugar. I have even made a vegetarian version, replacing each envelope of gelatin with 2 teaspoons of agar agar plus 1 teaspoon of cornstarch. (These are not quite as firm, but my vegetarian daughter adored them.)

The easiest way to make a variety of flavors is to dust the marshmallows with colored sugar or finely grated chocolate (mixed with coffee powder for a mocha twist) instead of confectioners' sugar. Make sure each marshmallow is completely coated so there are no sticky spots.

You can package them simply in an airtight bag or wrap individually in wax paper. (Colored plastic wrap looks pretty, but I've had trouble getting it to stick well because of the confectioners' sugar dusting.) You could even pair homemade marshmallows with homemade hot cocoa mix for a thoughtful gift.

TOFFEE, BRITTLE

The toffee and brittle recipes here are amazingly quick and easy -- no candy thermometer or crouching over a stove trying to figure out when the ingredients have reached the soft ball stage.

I've seen an eight-ounce tin of toffee priced at $10 or more in gourmet shops. You can make two gifts that size for a total of $5 to $8, depending on the type of nuts and chocolate. The rich, buttery taste and texture are what's most important, so walnuts and grocery-store quality chocolate will do. I do not, however, recommend substituting margarine for butter.

I spotted an eight-ounce tin of pistachio brittle in a gift catalog for $14. Starting with shelled pistachios, I was able to produce two gifts of more than eight ounces each for less than $6. Substituting peanuts for the pistachios cuts the price in half.

CRANBERRY VODKA

A delicious and pricey cranberry martini at a restaurant inspired me to make my own version, but with a twist, replicating the flavor profile of my favorite cranberry-orange relish. It turned out wonderfully. The vodka takes on the flavors with gusto, and turns a holiday-perfect red.

A 750-milliliter bottle of brand-name cranberry vodka sells for $22 to $30. I used an inexpensive bottle of vodka and produced three pint-size gifts for $15. If you have access to free oranges, you'll be able to shave the cost even more.

The flavored vodka is wonderful chilled and served as a martini or cosmopolitan or with club soda or tonic.

CANDIED NUTS

Candied walnuts are irresistible for snacking, wonderful on a salad and perfect for garnishing a holiday cheese or fruit platter. At a gourmet store, a 3.5-ounce package costs about $6. You can make four four-ounce gifts for the same amount, and they taste even better. Toss the prepared walnuts with dried cranberries or cherries and you'll double the yield.

The recipe is one I adapted from a 2000 Bon Appetit magazine that called for corn syrup and white sugar. I think this version has more pizazz, with a nice balance of sweet and salty.

POMEGRANATE

PEPPER JELLY

A 10-ounce jar of supermarket-brand hot pepper jelly sells for $5. Our pomegranate version costs only about 50 cents less, but you won't find anything as lovely on the grocery-store shelf.

The juice has a gorgeous claret color and a tartness that plays well off the sweetness of the jelly and the heat of the chiles. It's great as a cranberry sauce substitute with turkey, a colorful accompaniment to roast pork or dabbed on soft goat or cream cheese as an appetizer.

If you don't like the heat, skip the chiles and standing time for a pretty pomegranate jelly.

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