Christopher Whiteside MBE is a Conservative activist. He was Conservative candidate for Leeds North East in the 2024 General election
He has served as a County, City & District, Borough, Town and Parish councillor, and has also been a school governor and health authority member. He is currently an Egremont Town Councillor.
He lives and works in the North of England, particularly dividing his time between Cumbria and Yorkshire.
I think the first lesson of economics is "if you don't have it, you cant spend it" now this rule can be "bent" in that you can borrow it, much like you would with a mortgage, but you have to pay it back, meaning you will have less going forwards until you have paid it plus the interest the borrowing cost you.
I am not dead against borrowing money if you have to, hell i have a mortgage, its just you need to factor in do I need it, more than do I want it. If it is a need then ok, go for it. If its a want, then I would suggest saving up for it.
I also use a credit card quite a lot, Its so much easier than pfaffing about getting to a cash machine thats working, I used to use my debit card more, but I learned that using a credit card is good, as it builds up a very strong credit rating, which you may be glad of one day. Its just, for the love of god, if you do that, then pay off the balance each month when you get paid.
with a credit card, dont ever fall into the trap of making the minimum payment, thinking you are saving money. Saving money is the one thing you are not doing.
This is a big problem with politics, You see they tend to think very short term, that is kick the can down the road by which time I will be out of office, so its someone else's problem. "Sure the whole thing is going to go Kaboom sooner or later, just so long as it does not happen on my watch"
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I am not dead against borrowing money if you have to, hell i have a mortgage, its just you need to factor in do I need it, more than do I want it. If it is a need then ok, go for it. If its a want, then I would suggest saving up for it.
with a credit card, dont ever fall into the trap of making the minimum payment, thinking you are saving money. Saving money is the one thing you are not doing.