Eden Prairie, MN

Parents spend a lot of time thinking about how to prepare their children for adulthood. We talk about education, character, and work ethic, but money often gets pushed to the side. That’s a mistake. How children observe and experience money early on can shape their financial behavior well into adulthood.

As we turn the calendar to a new year, many people revisit familiar resolutions like getting healthier, getting organized, or simply getting a fresh start. But one resolution deserves a place at the top of the list in 2026: reducing or even eliminating “bad debt.” And that begins by understanding that not all borrowing is created equal.

After several years of stubborn inflation and steep borrowing costs, this holiday season finds many families determined to celebrate, but quietly worried about how much they’re spending. With the average American planning to shell out roughly $1,700 on gifts, travel, and entertaining this year (up from about $1,430 in 2022) those worries are understandable.