Research shows that if you want to be happy, you should spend your money on experiences instead of things. It turns out, the same theory holds true for your kids. According to the latest study, kids get so much more out of an experience than they do from the latest toy or gadget. And more often than not, the type of experience matters less than the sense of connection it brings.
Cindy Chan, an assistant professor at the University of Toronto and the lead author of the study, noted that experiential gifts are more likely to build long-lasting memories for kids because of the emotional connection that accompanies doing something rather than getting something. "An experiential gift elicits a strong emotional response when a recipient consumes it — like the fear and awe of a safari adventure, the excitement of a rock concert or the calmness of a spa — and is more intensely emotional than a material possession," says Chan.
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