This! My GF and I have a similar thing going on. Works great IMO and definitely helps take the stress out of trying to figure out a gift.I don't know your dynamics and what kind of relationship you guys have, but for me and my wife when we want do away with the pressure of getting/giving each other gifts for an occasion we opt for an experience together.
Experiences are always better than gifts or a card or cake, imo.
Pick six places/concerts/activities you guys want to do, number them and literally roll the dice to chose where/what you're doing.
Thats how we decided on where to go for our honeymoon.