[mschuster91]

Problem with contracting jobs is, depending on OPs country, they can be risky: health care costs can kill you at that salary rate (eg in Germany with its dual class health care system), contractors may not be eligible for ordinary pensions (and you might be tempted to skip over saving for retirement...) and when you're sick for more than a week (or, can't find a new project soon enough) it can burn through your entire savings sooner than you'd like.

I wouldn't do contracting again without serious money (aka F-U-Money levels, or a full year worth of expenses) in the bank.

[toyg]

In the UK, contractors are considered high-risk for mortgages and car loans. Even if you manage to lock-in a mortgage before starting your contractor career, it will make things difficult should you wish to remortgage (which is almost mandatory every 3 to 5 years, these days...).

[mschuster91]

Oh yeah, totally forgot about that one... and in case you end up broke/in debt with contracting, your personal credit score will be screwed up, too.

[justinholmes]

You can get a contractor mortgage based on your day rate in UK.