I had my son and daughter in law make the same announcement- they were not going to exchange gifts because they were saving for a down payment on a home. (YEA, 5 miles from our home, 1000's from hers)....I gave them the quilt I had planned on giving them for Christmas with a changed label that said "Winter Wonder-I love you........2011 and signed it. I gave it to them Thanksgiving Day instead- they love it and I stayed within their wishes, gift it to him- just not as a "Christmas Gift".........he will love it and you can share in the love it brings both of you.