Hiya!
Vicky - You and your mates sound like me and 'most' of my circle of friends i.e have been living below their means and are careful and sensible with money. The trouble is, 'we' people make up a small part of the UK populace. The vast majority of the UK populace IS the opposite to some extent, some alot more so than others - it's the reason why Personal credit card debt in the UK is more than the combined credit card debt of all the major European countries COMBINED! The reason is the UK consumer is very happy to buy now and pay later - which we've gone over in other threads. There is a strong link that the 'culture' of the UK in terms of Status symbols, keeping up with the jones' is directly attibutable to the levels of personal debt in the UK - of course that also includes mortgages. You're like myself and many others who realise you have simply GOT to be able to manage your money wisely - unfortunately, this hasn't happened in the overall scheme of things and the last 18 months or so is the fallout of the problem.
Ksand24 - Good luck in finding a job in your field, I've sorta seen your posts and know you're up in that graduate level looking for that doorway into your career that you've studied for. You already know the pay desparity in comparison to the UK, and are happy to have the lower pay level in return for 'free' healthcare and holidays. The future is where it's at and 'many' people in a similar scenario will settle down some years down the line and other elements such as family will become the major consideration and thats where the 'limitations' of pay will really show itself. Granted, everyone gets by and hopefully you'll have a dual income with a partner/husband which will definitley help. Even before all that, you may encounter the 'Brain drain' where sometime down the road a job opening abroad may present itself - possibly even the US again and I daresay you'll be sorely tempted!
Jim - I know you tend to disagree, which is your opinion - no worries there. However, quickly scan the statistics and you may decide to investigate a little more to formulate your opinions. As an example the UK population is 61 million, of which I seem to remember reading theres a workforce of around 30-35 million. Of that just 4 million are higher rate tax payers - which means approx 10% of the workforce earns over the approximate £40,000 per year salary level. This excludes however, most private business 'owners' of the small/medium sector - as many 'owners' and entrprenuers etc earn way more money etc. Another statistic is around half the UK wealth is owned by the over 50's and geographically south of an imaginary line cutting the UK at approx the level of Hertfordshire. The US from memory has around 30-40% of its workforce in the higher tax brackets in a similar comparison to the UK, factor in the 'comparitively' affordibility of property there (excluding the super hot spots)
Chadwyckp - Yes, across most high paying industries in the UK, there is a ceiling on advertised salaries that you'd see. Excluding the very rare high end Director / Chairman type jobs, you'd really struggle to see many salaries advertised at more than 60-70,000 per year. The sectors where you would see jobs at this level of pay advertised would be mainly in the Medical, legal, accounting,finance, scientific sectors. Usually, only the legal sector would show salaries of £150, 250K and above and was usually for very specialised legal people with many years experience etc. There is one of those charts which shows the level of salary spread Vs age in each industry sector somewhere!
So overall, the UK is on some seriously rickety legs in the current economic meltdown, the UK has been built on this 'borrowed' money - personal debt, business and governmental level too, it's widely reported that once the economic bailouts start to work, the US of course will have to be the first to show good economic growth before all the other countries follow - and the UK will probably be the last to recover due to this excessive 'borrowing' culture here. Of course, the excesses were in all the other G8 as well, just that the UK was the worst of the bunch.
There has got to be a reason for this over borrowing, and simply put, it's down to the culture of the UK population as a whole that we are the ones who borrowed the most in the ill founded belief it'd always just keep going up....
Not trying to be a doom monger - just pointing out elements!
Cheers!! DtM! West London & Slough UK