Hello and a very, very happy New Year. Well, of course New Year, it’s a time for hope and optimism and Britain’s favourite Sunday sermon is back. I want to just talk about borrowing and spending. Because in an ideal world we would of course always earn more than we spend. But occasionally it’s not possible. You need to borrow a bit short term. Here’s the thing though. You can’t keep borrowing if you’re not increasing your earnings, your value. When you buy a house, you probably need a mortgage and you start paying off the mortgage, and you might want to do a refurb, so you’ve got to borrow a b…
