I've posted this before, but its been a while, so I'll throw this idea out too.
As our children got older we decided we wanted to explore other things. Every year in September I'd give them the budget for our big trip. It was up to each child to research where they thought we should go, why, what there was to do to interest the whole family etc. They had to research the costs of travel, staying there, etc. (The younger ones needed some help from Mom and Dad in the beginning.) On Christmas morning after presents and breakfast each child would make their pitch and everyone voted on where we were going.
It was pretty interesting. Sometimes a child would completely abandon their idea for someone else's. One year every child had picked and researched a cruise (two of them even had the same destination). Every child had their destination picked at least once (Mom and Dad had the final say.) After presentations and decisions we'd then drag out the scrapbooks and movies of previous trips and "relive" them. We would take the trip during either the winter or spring break while they were all in elementary, middle and high school. Once the oldest started college we went in the summer.
It was a lot of fun. I remember sweating it out one year because the oldest had picked a river rafting/camping trip through the Grand Canyon. I HATE camping. Everyone seemed to be going his way and there I was thinking I was going to have to suck it up. I then realized that he had forgotten to include airfare in his presentation. Airfare for 6 put him way over budget!
It never bothered my kids that their friends got expensive electronics, phones, etc. for Christmas and they didn't. When friends asked what they got for Christmas and the answer was a cruise, trip to Jamaica, trip to a dude ranch, etc., their friends thought they were the lucky ones.