Jini Thornton urges families to split holiday costs

Financial expert Jini Thornton told viewers on Get Up Mornings that families should ignore credit cards and buy now, pay later services to determine what they can truly afford for the holidays. She argued that relying on deferred payments masks the true cost of the season and leads to debt that lingers long after the decorations are stored away. Thornton urged families to start planning immediately rather than waiting until the bills begin arriving in January.

Her primary advice involves creating separate budgets for Thanksgiving and Christmas. By establishing specific limits for each event, households can track expenses clearly and avoid overspending in one category while neglecting another. This approach forces families to make deliberate choices about where their money goes during the peak spending season.

Thornton also recommended that families distribute hosting responsibilities among multiple members. Instead of one household covering every expense, groups should divide tasks such as preparing the menu or organizing travel. Guests can contribute specific dishes, ensuring that the financial burden does not fall on a single party. This shared approach allows everyone to participate in the celebration without straining one family's finances.

The expert extended her advice to adult children who attend holiday gatherings. She stated that everyone over the age of 21 needs to contribute financially like the rest of the adults in the family. This expectation shifts the dynamic from passive attendance to active participation, requiring grown children to take an equal stake in the costs of shared celebrations.

One guest on the show shared that he and his wife recently decided to scale back their Thanksgiving preparations. As empty nesters, they plan to have their adult children take on more of the holiday duties. They intend to prepare less food for a large crowd and allow the next generation to manage more of the event logistics. Thornton agreed that these planning discussions can be enjoyable if everyone is involved in the process.

Thornton challenged listeners to ask themselves what their financial commitment would be if they could not use a credit card. She suggested that this mental exercise serves as a reality check for holiday spending. If the answer feels unaffordable, the spending plan needs adjustment. This method helps families align their purchases with their current cash flow rather than their future income.

The expert noted that gifts are not the only major expense during the season. Food, transportation, entertainment, party outfits, and decorations all contribute to the total cost. Her advice is to create an overall spending plan that accounts for every part of the holiday period. Families should make decisions based on what they can actually pay for now, not what they can pay off later.

Thornton encouraged viewers to connect with her through social media or her website for more money questions. She emphasized that enjoying the holidays should not compromise financial stability in the new year. By setting clear budgets and sharing responsibilities, families can celebrate without the stress of January debt.