According to Personal Capital, Americans plan to spend an average of $936 shopping for friends and family this holiday season. However, parents can ensure their children’s gifts are long-lasting by gifting in these four unique ways this holiday season.
- The Gift of Experience: One of the best investments you can make for your children is giving them the gift of experience. A recent study conducted at San Francisco State University analyzed information from 154 students at the university who recently purchased items and experiences. The study found that the happiness from purchasing an item faded over time, but the happiness and memories from an experience lasted longer and contributed to more happiness.
- The Gift of Health: Whether you buy a bike, skateboard, kayak, snow board, running shoes or anything else that can keep your child active, you are making a good investment. According to the CDC, there are over 12 million children who are obese in America. One of the best things you can do for your child is encourage them to exercise.
- The Gift of Responsibility: Teaching your child to be responsible can be a challenge. If your child has been asking for a pet, this is a good way to teach them responsibility. If your child is interested in cooking, you can gift some kitchen gadgets so that they can start helping out in the kitchen.
- The Gift of Compound Interest: It is never too early to start thinking about your child’s future. Investing on your child’s behalf is a great way to do so. Look into different ways you can invest on your child’s behalf. This is a great way to give a gift that is long lasting and will help them down the road when they are going to college or buying a house.
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