Do you want to get back to the real meaning of the holidays this year—and save money in the process? US News Money featured me and other money experts on the easiest ways to do so. My best advice is to become an experiential buyer, and there’s science to back up this approach. According to UC Berkeley researchers, buying experiences leads to having a happier life. Experiences are a requirement for growth, and they help you stay connected to others and meet new people.
When I give gifts, I often aim for an experience. For example, this year I’m sending some family members to Cabo with me. That way, we can be together and enjoy a new experience together. I’m getting a vacation, my loved ones are getting a great gift, and you’re making memories together. Of course, this is a pretty big example and there are many experiences that are free.
Other tips include watching a movie together, investing in a loved one’s financial future, and simply making time to be together—that’s what really counts. Don’t focus on material possessions. That’s a theme that we all agree on.
