You already have an excellent answer by magana584, so I just have a few things to add. In O. Henry's "The Gift of the Magi," James Dillingham Young used to earn thirty dollars a week; however, he now only gets twenty dollars a week, and of course that means he and his wife, Della, must be much more careful with their money. Della loves her husband very much. Every night when he comes home she hugs him, which, the narrator says, "is all very good."
They do not have very many fine things, but one of them is Jim's gold watch. It was handed down from his father and his grandfather, and he is very proud of it.
Had King Solomon been the janitor, with all his treasures piled up in the basement, Jim would have pulled out his watch every time he passed, just to see him pluck at his beard from envy.
When Della finds the perfect fob for Jim's precious watch, she describes it--and her husband--this way:
It was like him. Quietness and value--the description applied to both.
Della is worried about Jim's reaction when he sees that she has cut off her long, beautiful hair. She has no idea, of course, that he has bought her combs with the money he got from selling his watch. When he sees her, he is surprised, naturally, but he is not angry or upset either at her short hair or the fact that he sold his watch for something that turned out to be useless to Della. He rather sees it is a delightful joke and just wants to set both gifts "aside for awhile" and enjoy Christmas with his wife.
From all of this we can characterize Jim as a kind man who loves his wife enough to sacrifice what is most important to him for her happiness. He works hard and has a positive outlook on life; he is also optimistic about their future together.