43% of Parents Would Go Into Debt to Help Their Kids Fit In — 7 Money Traps to Avoid

From trendy school gear to costly extracurriculars, the pressure to help children fit in can push parents beyond their budgets. Setting clear spending limits can protect family finances while teaching children valuable money lessons. (Pexels).

The expensive sneakers. The travel team all their friends joined. The class trip. The birthday outing everyone is talking about. For parents, saying “we can’t afford that” can feel like saying no to far more than a purchase—it can feel like risking your child’s place in the group. That pressure is powerful enough that a 2026 NerdWallet survey found 43% of parents would go into debt for back-to-school purchases that could help their child fit in, while 45% would take on debt for extracurriculars their child wants to participate in. The goal isn’t to deny children every expensive experience; it’s to recognize when the fear of letting them feel left out starts making financial decisions for the entire family.

1. Going Into Debt So Your Child Can Keep Up