Liberal Democrat MP Joshua Reynolds calls £60,000 student debt a second mortgage

Joshua Reynolds, a 27-year-old Liberal Democrat MP, discussed his financial habits in a "How I Manage My Money" feature. He recalled a modest upbringing, early work at Marks and Spencer in Maidenhead, and buying his first car with saved wages. Reynolds highlighted that his £60,000 student loan feels like an additional mortgage, limiting his borrowing capacity for a home.

To manage cash flow, he allocates £10-£15 each month for holiday spending and £20 for car upkeep, using Monzo’s budgeting app to track small purchases. He also maintains a parliamentary pension and a former Co-op pension, aiming for early retirement. The MP emphasized his father's advice to save at the start of the month rather than waiting until the end.