“Can we go to the Galapagos Islands for spring break?”

“No, we can’t afford it.”

If this exchange sounds familiar, it’s because sooner or later, your child will ask for something that blows past your budget.

Once kids start school, they become aware of the trips, toys, cars, and experiences other families have. Maybe they see a Cybertruck at drop-off. Maybe a friend just went on a luxury vacation. Maybe they want a backyard pool. 

When you say no to one of these requests, they’ll inevitably ask, “Why?” 

This moment can feel uncomfortable. It can be difficult to deny your child something they want. Their request might also trigger old memories of lack, or spark feelings of shame that you can’t provide what others have. Those emotions make it easy to get irritated or shut them down with a reflexive, “We can’t afford it.” 

But as a financial psychologist, I suggest eliminating this phrase from conversations with your kids. Here are three reasons you should never tell your child, “We can’t afford it” — and what to do instead.

It’s not entirely true, and kids can sense that. Let’s be honest, if you were desperate, you probably could come up with the money. You could, for example:

• Take out a home equity line of credit 
• Sell your house or belongings
• Max out your credit cards 
• Get a second or third job and work nights, weekends, and holidays

The point is, unless your child is asking for a private jet, you probably could find a way to make it happen. So “We can’t afford it” usually falls short. 

Imagine a child who’s never allowed to have candy. What do you think might happen on their 18th birthday? They go on a sugar bender. Money works the same way. 

If your child grows up hearing, “We can’t afford it,” they may internalize a sense of financial scarcity. When they eventually enter adulthood and are offered credit cards, student loans, and easy financing, the emotional response may be: “Now I can finally get what I never had.” This can lead to overspending, credit misuse, and lifelong financial stress. 

DON’T MISS: The ultimate guide to teaching your kids about money

Telling a child why you’re not buying something is different. Instead of implanting the belief that money is scarce, you can focus on teaching them about the reasons you choose to prioritize other things.

When your child asks for something expensive, it’s your chance to explain:

• Why certain expenses aren’t in the budget
• What your family is saving for
• Why you’re prioritizing long-term goals over short-term thinking
• How overspending on cars, vacations, or houses leads many people into financial trouble
• Why delayed gratification matters

If they ask for something unrealistic, like an island in the Caribbean, don’t shut them down. Use it as inspiration. Talk about entrepreneurs and investors who build wealth big enough to afford dreams like that, and how your child can work toward big goals, too. 

Research shows that kids who grow up to be good with money are more likely to come from homes where it was discussed openly.

Instead of cutting off the conversation with an abrupt, “We can’t afford it,” try saying: “We could do that, but we’re choosing to spend our money on these things instead, and here’s why.” 

Then explain your reasoning. Maybe you’re: 

• Paying off debt
• Saving for a home
• Investing for retirement
• Choosing to work less so you can spend more time together 

Share your family money values. Tell them what matters most to you. Explain how saving, investing, and making thoughtful spending decisions lets you live the life you want and helps you achieve your goals. 

These conversations will help your child build a healthy relationship with money instead of one rooted in shame or scarcity.

Brad T. Klontz, Psy.D., is a financial psychologist, professor, and certified financial planner who has studied the psychology of money for more than 15 years. He helps clients understand and overcome their subconscious beliefs and patterns that affect their financial behaviors and decisions. Klontz is a member of the CNBC Digital Financial Advisor Council and is a featured expert in the Smarter course “How To Raise Financially Smart Kids.”

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The Department of Education is adding another layer of transparency around earnings outcomes for students and their families applying for federal financial aid for college.

The department announced on Dec. 8 it will be adding earnings data to the Free Application for Federal Student Aid. If a first-time undergraduate student selects an institution where the data shows graduates on average don’t earn more than workers in the state — or workers nationally, for schools with primarily out-of-state students — who only finished high school, the student will see a “lower earnings” disclosure, the department says.

The department cited the nation’s nearly $1.7 trillion in federal student debt owed and an NBC News poll that reports a growing share of Americans who say a college degree isn’t worth the price as contributing reasons for implementing the disclosures. The disclosures will draw on publicly available earnings data, including median earnings by institution, according to the College Scorecard, adjusted for inflation.

The College Scorecard is an online database of colleges and universities run by the Department of Education that allows users to explore and compare schools on factors including earnings outcomes, costs and graduation rates.

“Not only will this new FAFSA feature make public earnings data more accessible, but it will empower prospective students to make data-driven decisions before they are saddled with debt,” Secretary of Education Linda McMahon said in the press release.

The department added in its announcement on the Federal Student Aid website that the earnings indicator “should not be interpreted as the Department passing normative judgment on what institutions are worthy of attendance,” and that an institution’s past performance is not necessarily predictive of an individual student’s success. 

Going to college is worth it for most students, even when it comes with high out-of-pocket costs, a Federal Reserve Bank of New York study from April 2025 found. Median wages for college graduates are roughly 68% higher than for workers without degrees, and that earnings premium tends to grow over individuals’ careers, the researchers said.

Even when accounting for student debt, degree holders earn roughly $8,000 more per year than those without post-secondary degrees, a separate study from Brookings Institute found. Roughly 1 in 5 Americans with undergraduate degrees have debt from their education, according to Education Data Initiative.

However, those who attended but didn’t finish college and those who attended for-profit institutions are more likely to default on their student loans than college graduates and those who attended nonprofit institutions, according to the New York Fed.

Further, some colleges have a history of providing low or no return on investment when their graduates don’t go on to earn much, if any, more than their peers who didn’t pursue post-secondary degrees. 

Many of the colleges the Department of Education has flagged with lower earnings disclosures are for-profit institutions and cosmetology schools. A 2022 study from The Century Foundation, a progressive think tank, found 98% of cosmetology programs do not meet the basic standard that graduates go on to earn more than workers with high school diplomas alone. 

Aveda Arts & Sciences Institutes and Empire Beauty Schools, two major for-profit cosmetology school networks with dozens of campuses that will have lower earnings disclosures, did not respond to CNBC Make It’s request for comment.

The Department of Education says its move to flag colleges with lower earnings histories to potential applicants will aim to help students be aware of potentially negative outcomes before they take out loans.

“This indicator is designed to inform — not limit — student choices,” Nicholas Kent, Under Secretary of Education, wrote in a blog post. “It’s one additional resource students can use — alongside factors like cost, mission, location, and personal interests — to identify the path that best aligns with their goals.”

The full list of schools that are now flagged with lower earnings disclosures is available to download here. The data currently reflects 2021 earnings of workers who completed school in the 2014-15 and 2015-16 school years, adjusted for inflation to 2025 dollars. High school completers’ earnings are drawn from the Census Bureau’s American Community Survey 5-year estimates from 2019 and 2020. The data will be updated as it becomes available, the department says.

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You’ll need to earn close to $200,000 a year to be within the top 10% of U.S. household incomes, though the exact threshold depends on where you live.

A recent Visa analysis calculated the income and net worth households need to be considered “affluent” across the U.S., which the report defines as households in the top 10% in terms of either income or net worth. Visa based the thresholds on 2024 U.S. Census survey data.

Nationally, those thresholds are about $210,000 a year in income or a net worth of roughly $1.8 million. Net worth is a measure of a household’s total assets, including home equity, savings and investments, minus its debts.

Those thresholds have increased since 2020, when the income needed to reach the top 10% was about $170,000 and the wealth cutoff sat around $1.3 million nationally. Rising home values and stock prices have pushed both numbers higher, while wage growth added further momentum, the study says.

The analysis also looked at how these thresholds vary by region, using cost-of-living data from the U.S. Bureau of Economic Analysis to account for local price differences. Here’s a look what it takes to be considered affluent in different parts of the country:

• West: $227,000 income, $2 million net worth
• Northeast: $222,000 income, $1.9 million net worth
• South: $205,000 income, $1.8 million net worth
• Midwest: $198,000 income, $1.7 million net worth

The regional cutoffs reflect what households pay for housing, goods and everyday services in each area. Because the thresholds are scaled to local prices, regions where costs run higher require more income or net worth to be considered affluent, while lower-cost areas require less.

Housing plays an outsized role in these cost differences, since it makes up the largest share of household spending, the study says.

That lines up with the most recent regional data, which shows median existing-home prices ranging from about $319,500 in the Midwest to roughly $628,500 in the West as of October 2025, according to the National Association of Realtors.

While Visa’s analysis does not include net-worth figures for each region in 2020, Federal Reserve data shows that the wealth held by the top 10% of all households has grown by about 40% over the last five years as asset prices have climbed.

Much of the rise in wealth comes from gains in the stock market and real estate. The top 10% of Americans hold over 87% of corporate equities and mutual fund shares, with the value of those assets growing sharply since 2020, according to Federal Reserve data. The S&P 500 — a market benchmark that tracks around 500 of the largest publicly traded U.S. companies — gained roughly 109% over the last five years.

Rising home values also contributed to higher household wealth. The U.S. median home price rose about 25% over that same period, per U.S. Census data.

The increase also reflects stronger income gains among higher-earning households. The threshold for households to be in the top 10% of earners rose 23% since 2020, Visa’s analysis shows.

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This holiday season, the world feels heavy. There’s war, political division, and economic uncertainty converging to weigh us down — on top of the emotional and financial stressors people often experience this time of year. 

One report found that 60% of Americans felt stressed heading into the holiday season. Forty-one percent of adults said they expected an increase in holiday stress compared with last year, according to data from the American Psychiatric Association. Another survey found that nearly seven in ten people feel pressure to appear happier than they really are.

So much for happy holidays. It might feel tempting to lean into your inner Grinch, but there is a more realistic middle ground. The World Happiness Report consistently ranks Nordic countries like Finland and Denmark at the top of its list, not because people describe feeling ecstatic or euphoric, but because they report high life satisfaction rooted in stability, security, and low chronic stress.

Instead of putting unnecessary pressure on yourself to feel extra happy during the holidays, work on finding “happyish.” You can do that by practicing micro-actions — like tiny mood resets — that help interrupt stress patterns in the brain at a scale most people can manage. 

Here are 12 tiny but meaningful, research-backed micro-actions to help you feel happyish this holiday season:

1. Label it. When you feel off or overwhelmed, pause and name the emotion. Even a simple label activates part of the brain that helps regulate stress, which in turn calms the threat response. It is a quick way to steady yourself before the feeling takes over.
2. Appreciate people. Instead of listing stuff you’re grateful for, like turkey and stuffing, or presents under the tree, direct gratitude toward a specific person. Feeling grateful for your neighbor who shoveled your sidewalk, for example, can help you feel a stronger sense of connection and trust. 
3. Notice the positive — or neutral. The brain has a negativity bias, meaning it automatically scans for threat. This is why we tend to notice little annoyances like a driver refusing to let you merge. Try intentionally noticing something neutral or mildly positive to stay positive and reduce conflict.
4. Replay one good thing. Before bed, call back a memory of one single good thing that happened that day. It can be simple like, “My coffee made me feel cozy.” Or, “I had a good laugh with a friend today.” This can help shift attention away from stressors, improve your emotional well-being, and remind you that whatever kind of day you had, you can still count on one good thing to happen.
5. Take a break from comparing and despairing. Instagram’s highlight reels make it easy to slip into feeling like our lives don’t measure up. Labeled “upward social comparison,” it can decrease self-esteem and increase negative emotions. Take breaks from your feed and remind yourself that everyone has good and bad days — no one’s life is perfect. Spend two minutes filling in these blanks: “I may not have [X], but thankfully I have [Y].”  
6. Tune in to your senses. Zeroing in on a smell, sound, taste, or texture can quickly bring you back to the present and reduce anxiety. This kind of sensory grounding is great for when you’re in an overwhelming environment like a busy shopping center or a noisy holiday gathering.
7. Offer silent gratitude. Emotions can run high at big, hectic family events. To counter the irritability, try expressing silent gratitude. Say to yourself,  “I’m grateful she always shows up,” or, “I can see he’s really trying.” Even unspoken appreciation activates the brain’s social-bonding circuits linked to empathy and positive regard.
8. Plan one tiny act of generosity. Small acts of kindness trigger a release of dopamine, the brain’s reward and motivation chemical. Even simple gestures like dropping a warm drink off to a friend or sincerely thanking a retail worker can boost mood and increase feelings of social connection.
9. Let go of one expectation today. For example, don’t assume your run to the grocery store or mall will be quick. Instead, expect that it will be busy and slow. Then you’ll feel neutral if that’s how it goes, or pleasantly surprised when it’s easier and faster than expected.
10. Do something intentionally slow. Think of it as hitting your internal brake pedal. Slow movements steady your heart and nervous system. Over the holidays, try it while wrapping gifts, stirring something on the stove, or savoring your food. Slow your motion by half. It’s a tiny reset that buffers against that constant holiday hurry.
11. Do a 30-second “awe scan” outdoors. Step outside, look for one small thing that inspires a sense of wonder like the wind in the trees, a bright starry night, or the sparkle of holiday lights. Research on awe shows it reduces your focus on yourself, while increasing connection with others, a sense of meaning, and overall well-being. 
12. Celebrate small wins. When you complete even a tiny task, like making your bed in the morning, your brain logs it as progress and builds the expectation that you can take the next step. At the end of the day, congratulate yourself for sending out a card, picking up a gift, or checking one thing off your list. These micro-milestones create momentum, and in a season that feels overwhelming, motivators are key.

These small practices won’t eliminate holiday pressures, but they can help you feel steadier in a season that often demands extra from us. During the holidays, happyish can be enough.

Honest moments and tiny gratitude practices beat layering on expectations and faking joy. You may find that this creates its own kind of merriment, one that feels real and lasting, and offers a healthier foundation for the year ahead.

Jennifer Moss is an international speaker, award-winning journalist and author, workplace culture strategist, and cofounder of the Work Better Institute, a global workforce policy think tank. She is a former member of the Global Happiness Council, in partnership with Gallup and the UN, and contributor to their annual Global Happiness Policy Report. She is the author of three books, including ”Unlocking Happiness at Work.”

Want to give your kids the ultimate advantage? Sign up for CNBC’s new online course, How to Raise Financially Smart Kids. Learn how to build healthy financial habits today to set your children up for greater success in the future. Use coupon code EARLYBIRD for 30% off. Offer valid from Dec. 8 to Dec. 22, 2025. Terms apply.

Parenting is full of love and joy, but it also comes with a few hard truths we’d rather not face.

In my 10 years as a pediatrician, I’ve seen the same patterns again and again: Parents who want the best for their kids but sometimes miss what actually helps them thrive.

Some of these truths might sting a little, but they’re not meant to shame. They’re meant to help us reflect and hopefully, raise happier, healthier kids.

1. If you’re not modeling an action, behavior, or value, don’t expect them to do the same.

Kids copy what they see more than what they’re told. How you speak, handle stress, and make things right matters.

If you want them to learn kindness and respect, show it in action. I try to model this in the small, everyday moments — how I speak to employees at the grocery store, how I apologize if I lose my patience, how I talk about people when they’re not around. Kids catch that energy, fast.

2. If you always rescue them from boredom, they’ll never learn to be comfortable being idle.

Boredom is the spark for creativity. When every moment is filled with entertainment, kids lose the chance to explore their own ideas. Give them the space to figure it out. 

3. If you feel like your child is overscheduled, they are. Scale things back. 

When afternoons turn into a relay race between soccer, piano, and playdates, it’s a fast track to burnout … for everyone. Downtime gives their body and brain room to breathe. Protect it.

4. Set the bedtime. Keep the routine. Sleep is a necessity.

Sleep powers growth, learning, and emotional balance. Toddlers usually need about 11 to 14 hours, preschoolers 10 to 13, school-age kids 9 to 12, and teens 8 to 10. But these are just ranges. What matters most is how your child functions: If they wake up rested, don’t nod off at odd times, and aren’t showing signs of poor sleep like irritability or trouble focusing, they’re likely getting enough.

5. Seriously, stop the excessive snacking. That’s why they’re not eating meals.

When kids snack all day, they never build an appetite. If they don’t love their meal, they’ll simply hold out until snack time. Planning snacks so they’re predictable gives kids structure and time to feel hungry again, which encourages them to show up for meals.

6. You don’t need fancy ‘immune-boosting’ supplements.

The real immune boosters? Sleep, nutritious meals, hydration, physical activity, and washing hands. There’s no powder or gummy that can compete.

7. Stop asking for antibiotics just because a cough lingers.

Most coughs after a viral infection last for weeks. Extra antibiotics don’t speed healing. They just increase resistance and side effects.

Often, time and comfort care are key. I usually recommend keeping the air moist with a cool-mist humidifier, offering warm fluids like honey water (if over age 1), using saline and suction for congestion, and letting them rest.

Of course, you should always check in with a pediatrician, especially if things seem to be worsening.

8. Don’t use screens or food to calm every meltdown.

It’s tempting to reach for quick fixes, but distraction isn’t regulation. Kids need opportunities to practice coping skills like naming emotions, breathing, learning that these feelings will pass.

9. If your child goes to an Ivy League college but can’t handle disappointment, you’ve missed the point.

Academic success means little if a child crumbles under stress. Resilience, the skill of falling, learning, and trying again, is what truly prepares them for life. 

Parenting asks us to grow, too. These truths can sting, but awareness builds strong families. And again, it’s always important to keep a close relationship with your pediatrician and consult them before making any major changes to your child’s health routines.

Dr. Mona Amin is a board-certified pediatrician and founder of PedsDocTalk, a resource for modern parenting guidance. Featured in The New York Times, Time Magazine and NPR, she is known for helping parents navigate the joys and challenges of raising kids with confidence and clarity.

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