What do you get for Christmas for the person who has everything -- or for yourself for that matter if what you want is true long term happiness. A university study says don’t buy stuff, buy experiences!

Using your cash for life experiences, such as dinner with friends or a trip, is better than buying that pair of shoes you really don't need. People who spent their money on experiences were more satisfied and happier in the long run, no matter how much they spent, says a San Francisco State University study.

Study organizers say we never tire of memories like we do with material items--adding that most experiences happen with friends or family, which helps you feel connected and engaged,  all keys to long term happiness.