The story's opening sentences confront us right away with the problem: Della only has $1.87 to buy a Christmas present, and it's Christmas Eve. After the first paragraph, the narrator gives us a bit more fleshing out of the situation. Della's in a meager flat, she and her husband Jim are poor, she loves her husband more than anything else in the whole world. Plus, she positively needs to buy him the perfect Christmas present. With $1.87. When Della lets down her hair, we also learn the other most important fact for the story: her hair and Jim's gold watch are the only prized possessions the couple has. Everything is now set up for the rest of the story to unfold.