Falling Standard of Living

[fannyahnnie]

Would people agree that they’ve seen a fall in their standard of living especially over the last 15 years or so?

The cost of living in the UK has become so expensive, even compared to other countries I’ve lived in. This means the standard of living has fallen. I really feel for young people in the UK.

My husband and I are both teachers. We managed to buy a 4 bedroom family home in a nice area of town. My parents were also both teachers and they could afford a 5 bedroom family home in a desirable part of town, a holiday home, boarding school for my brother. All of this on a teacher’s salary.

My daughter is a doctor and her husband is a lawyer. All they can afford is a 2 bedroom flat and a much lower standard of living.

How on earth people are surviving I don’t know.

Definitely increased here, DH got a better job with much better pay, I’m working up in my career in nursing, childcare costs are much less now the children are at school and only need holiday care. We do rent a HA house and haven’t been able to buy just yet and it will continue to be out of our reach with the crazy deposits needed but we are trying

I'm guessing half the commenters came from rich families. Lol we work hard wages barely gone up in 10 years in supermarket sector, pay bills up to date and then lucky if there's a fiver left. But aslong as we are happy I couldn't care how poor or rich we are

The NHS is shockingly bad and is in no way superior to the U.S. system if you have a high level of cover as my colleagues do. Theirs covers emergency care (and maternity). Stop fooling yourself that the NHS is superior. They are both shit in their own ways but I personally would be much better off in the U.S.

Also, I was merely pointing out that the overall package is far superior for my U.S colleagues. The two weeks extra holiday that I get doesn’t make up for half the salary and the inferior medical cover.

The medical cover one gets in a professional job in the US is far superior to the NHS and would cover emergency care, maternity, dental, etc.

If that wasn’t the case, nobody would be working for my company in the US - staff are very globally mobile and would just move overseas.

I think most people don’t really get how much richer the US is than us now. A small anecdote, to reinforce the above poster:

I’m mid-level in a multinational corporate. I manage around 50 people here in the U.K. I’m paid about 4 times what we pay our U.K. grads (who are fairly well paid as grads go).

Our US based grads get more than I do. Wouldn’t have been the case 20 years ago. But it is now.

Since covid yes, but not as far back as 15 years ago. Our house has doubled in value since we bought it nine years ago which is alarming. However it was a small rough army town which the army has left and its had thousands of house built on. In the promise of all sorts of regeneration that never happened. Couldn't afford it today.
Things was pretty dire early this year and last winter. First time we have ever been cold for example. We was poorer as kids but never remember being cold

My standard of living has improved over the last 15 years. I'm not saying I'm well off or even comfortable by a long way but I no longer have to save for weeks on end just to afford a takeaway.

Thankfully paid of the mortgage last year. It's not often I'm glad not to be young - I would hate to be starting out now.

I definitely agree. My parents bought their 4-bedroom semi-detached Victorian house in Surrey on one salary. Nowadays, two professional salaries are absolutely needed to pay off a mortgage, & that’s on a one or two bedroom flat in a desirable area. Salaries don’t stretch as far as they used to. And they’re not keeping pace with the rising cost of living either. I really worry about my kids, and how they’ll manage.

It’s not going to get better for future generations; there’s a rising percentage of people aged 65+, larger bills for adult social care and rising rent/accommodation costs. Flats are just about in reach for first time buyers; my parent’s generation could afford houses as starter homes. Says a lot really

In some ways yes. Others no.

No mortgage as cleared plus sold the car in spring. Ds started paying his keep since June.

On the other hand I earn no more than when ds was younger as dropped my prices (self employed). I no longer have to fund him though.

It is the bigger items am struggling with. Money to replace carpets new shower etc.

People conflate their personal circumstances with the median

But the OP asked for people's own experiences. Everyone knows there is a cost of living crisis. Nobody is assuming that just because their own circumstances have changed for the better, everyone else's have too.

In the last few years I have gone back to working ft, then got a promotion, so we are in a better financial position than before.

Far worse, our wages have flat lines and we can't afford to buy the rest of our shared ownership property due to the insanity of house price rises.

The UK is very unequal. The top 10% or so are richer than their French/German equivalents. While the bottom 50% are nearer Poland, Hungary in terms of living standard than France or Germany.

While the bottom 50% are nearer Poland, Hungary in terms of living standard than France or Germany.

What does this mean specifically - what metrics are used to measure quality of life? Is it disposable income or is it the percentage of people living without regular meals, leisure time, the energy efficiency of the average home in this income bracket?

I have to agree. We can't seem to do anything to a decent standard anymore. Public transport is an unreliable joke. Litter is strewn everywhere. Loads of empty/derelict city centre properties (previously offices, shops, etc). Roads full of potholes, broken road signs, unreadable road markings. NHS is a shambles.

Had the misfortunate to have to go into Bradford recently - an absolute pit of a place with litter strewn everywhere, burnt out buildings, open drug dealing on street corners, lots of "dodgy" shops/barbers etc that are clearly money laundering, never-ending roadworks "to improve the city" including the guided busway being closed. I've honestly never felt so frightened since I was on holiday in Kenya and found ourselves lost in a very dodgy area of Mombassa with "locals" openly carrying machetes! I won't be going back there, that's for sure!

We're rapidly heading towards being a third World country. Far too many people, pretty close to zero enforcement of laws/rules, corruption rife, mammoth wastes of public money.