Financial Expert Jini Thornton Says Set Hard Budgets to Prevent Holiday Debt

Jini Thornton, a financial expert appearing on Get Up Mornings, told viewers on Monday to treat holiday spending limits as fixed numbers rather than flexible suggestions. She argued that families should determine exactly how much they can afford for each celebration before the season begins.

Thornton’s advice aims to stop the cycle where small holiday costs turn into large debts paid off in January. She said that between Thanksgiving dinners, Christmas gifts, travel, and parties, expenses accumulate quickly.

The core of her strategy involves creating separate budgets for Thanksgiving and Christmas. By establishing specific caps for each event, households can track expenses clearly and avoid overspending on one holiday at the expense of another.

She also recommended that families distribute hosting responsibilities. Instead of one household covering all costs, members should divide the menu and ask guests to bring specific dishes. Thornton said this ensures everyone contributes to the celebration.

Thornton directed a specific message toward adult children who still rely on their parents for holiday logistics. She stated, "Everybody over 21, they need to be anteing up like the rest of us adults." A guest on the show agreed, noting he and his wife are scaling back their Thanksgiving as empty nesters and asking their adult children to take on more duties.

To test their spending habits, Thornton asked listeners to imagine a scenario where credit cards and buy now, pay later services do not exist. She posed the question: "If I had to pay for everything now and I could not do buy now pay later, I could not use my credit card, what would my financial commitment be?"

She noted that while gifts often dominate holiday spending conversations, other costs are equally important. Food, transportation, entertainment, party outfits, and decorations all add to the total financial load. Her plan requires an overall spending sheet that accounts for every part of the season.

Thornton encouraged families to make these planning conversations enjoyable by involving everyone in the process. She invited listeners with money questions to reach out to her via social media or her website to discuss their financial stability for the new year.