
If you wonder how to give your kids the best life possible, do not buy them things. Instead, give them great, exciting experiences. Research shows they will remember special events and adventures longer and relive the joy and excitement again and again.
We live in a world of abundance. If you want to understand how much you have today, all you need to do is think of how your life would have been 50 years ago. I like asking myself, “What did my parents not have 50 years ago that I (or my kids) have today?” It is a good lesson in perspective.
Unfortunately, not every person who asks this question reaches the same conclusion. Some people feel grateful and other feel fear. Grateful people, who feel that they are fortunate, tend to appreciate what they have and care for it. Fearful people panic and start to accumulate things. No matter how much they accumulate, they are never happy. Fear takes away the joy of what they already have.
Read Experiences, not Possessions: How to Best Spend Money on Your Kids »