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Thais live beyond their means

By Editorial
Posted in Society
Tags: ,
October 2, 2011

Most Thais spend more money than they earn and even those who manage to get by with their money risk getting into financial trouble.

This is evident from a poll by Abac among 2.764 people aged 18 and older in 12 provinces.

The average income of the respondents is 11.300 baht per month; their personal expenses 9.197 baht. The main expenditure items are food (5.222 baht), transportation (3.790 baht) and entertainment, such as cinema, concerts and sports (1.416 baht).

The financial problems occur in a quarter of the respondents. Those earning less than 3000 baht per month spend 6.513 baht per month; those who earn between 3.000 and 5.000 baht spend 6.522 baht monthly. The money for this is borrowed.

People who earn more than 75.000 baht per month spend 34.471 baht per month. They made up 5 percent of the respondents and make up 10 percent of the entire population. The vast majority of respondents (76 percent) earn less than 15.000 baht per month. In this group, 75,6 percent have no savings.

[The first sentence is not made plausible in the rest of the message.]

www.dickvanderlugt.nl

Number of times read: 204

26 Responses to “Thai life beyond their means”

  1. cor verhoef says up
    2 October 2011 at 16: 14

    Another ABAC poll that raises more questions than answers. I have no doubt that the average Thai is up to his neck in debt. You don't need to do a survey for that.
    In Thailand, there are not many people who earn less than 3000 baht per month (100 baht per day). That is one hundred baht below the minimum wage. Beggars earn more and even rice farmers earn more. It makes sense that those people spend more than 6000 baht a month, because you can hardly live on less.
    In which provinces was this survey conducted? Which households? Which professions. This survey rattles on all sides. Only shows how bad things are with university education in Thailand. ABAC is a very expensive, prestigious university…

    • HansNL says up
      3 October 2011 at 09: 13

      Dear Cor
      You rightly note that 100 baht per day wage is 100 baht below the legal minimum wage.
      Quite right!
      But, really, the legal minimum wage is often just a guideline.
      Evading the legal minimum wage is a normal thing, there is actually no adequate control and trade unions are an unknown phenomenon.
      And sure enough, there is always a can of workers from neighboring countries.
      Vietnam, Laos, Burma and also Cambodia.
      In Khon Kaen, several restaurants have switched from Thai employees to Vietnamese ones.
      And they should be happy if they get 100 baht a day, and are terrified to talk about it.
      Minimum wage?
      A farce.

    • Joop says up
      3 October 2011 at 16: 03

      Hi Dick,

      I have a question: Do you also have experience with ebooks? And if so, are they also for sale in Thailand? And how much do they cost approximately?

      Sincerely, Joe

      • dick van der lugt says up
        4 October 2011 at 04: 49

        Ebooks are for sale in Asia Bookshop, but I don't know if there are English titles for sale. I am still of the paper generation and have no experience with ebooks.
        No idea what they cost here.

  2. nok says up
    2 October 2011 at 16: 16

    There are not that many people who earn more than 75k baht. These are the senior managers/civil servants. And I can't believe they only spend 34k. Mortgage for the house, big car on installment, often eating out, etc. You will never manage that with 34k a month.

    • cor verhoef says up
      2 October 2011 at 16: 32

      @Nok,

      That is another part of this “survey” that makes no sense, and whose credibility is questionable to say the least.
      ABAC surveys….
      It is sad that the English-language newspapers in Thailand put the results of this shoddy work on the front page. Jeez, the Thais are in debt!

      • nok says up
        2 October 2011 at 18: 20

        When you fill in that visa form on the plane, there is always a question about your income. I think that is very rude of the Thai to ask everyone who wants to enter the country, but they do.

        Also on the street in Bkk I almost daily encountered a group of students with a survey about your merits and goal to come to Thailand.

        Would these also be scientific studies of the Thai? I usually just fill in something, it's none of their business what I earn.

  3. dick van der lugt says up
    3 October 2011 at 04: 34

    I always take polls, also in the Netherlands, with a grain of salt. Bangkok Post always neatly states how many people have been questioned and in how many provinces, sometimes also which ones. In the Netherlands I never or rarely read that (the number of people then, mentioning the provinces is of course superfluous in NL).

  4. French says up
    3 October 2011 at 08: 07

    am glad the expats have more than 50k per month.

  5. Christian Hammer says up
    3 October 2011 at 09: 36

    The overspending and living on credit, which you now see in Thailand, started in the Netherlands around 1966. It is now clear where this ultimately leads. One cannot go back.

    In Thailand without real minimum wage protection, that can really get out of hand. In recent years I have noticed that people want to borrow money more and more; borrow now??? You'll never see it again. Crime will also increase as a result, because people still want to get money.
    Many families I know here hardly have more to spend after the 18th of the month, until the new wage or salary comes around the 29th.

  6. support says up
    3 October 2011 at 11: 24

    in addition to possible minimum wage evasion, the finance companies and insurance companies are also the main culprits here. with many products (from TVs to irons) you will first see the amount you pay per month (advance financing) in capital letters. and in small letters at the bottom what the product costs.

    the financing is provided without any problems. As long as you politely answer "from my salary" to the financing company's question "what will you pay from", then it is approved. There is no check of the salary or whether other financing is already in progress. there is no such thing as BKR here.

    For example, I know of a case where a Thai who earns TBH 6.000 p/m loses TBH 7.350 p/m in fixed financing costs and unnecessary insurance. just imagine how that will turn out.

    they had to ban installment sales and idiotic life insurance here, as long as it is not possible / unwilling to properly check whether the applicant is able to pay.

  7. hans says up
    3 October 2011 at 13: 20

    Now I've often heard that you can buy cars repossessed by the bank cheaply, but I still haven't been able to find those kinds of addresses. Who knows how that works.???

    • Jake says up
      3 October 2011 at 19: 59

      Hi Hans, take a look at http://www.scb.co.thIf all goes well, it contains a link with cars, houses and other items for sale.

      Auction is held in BKK believe every 2 weeks, cars can be bought there at a competitive price, but just like in NL and the UK without warranty and of course you have to bring a Thai if you do not master the language optimally.

      Success

      • hans says up
        3 October 2011 at 23: 54

        Thanks for the tip but I don't see the link…Are you sure?

        • Jake says up
          4 October 2011 at 14: 32

          link does work, but then click on buyatsiam.com, part of the Siam Commercial Bank ..

          Chokdee 🙂

  8. scarf says up
    3 October 2011 at 13: 59

    Not for one thing or another.
    But it is common knowledge that people with higher income or money in the bank.
    spend this less quickly, if they do this at all, it is often a well-considered choice.

    But I myself prefer to drink a beer of 70 bat where it is cozy. And fortunately have the most respect for each other.

    If I'm drinking a beer of 50 bat where I sit with people around me who are either suffocating on money who are too pissed to give a round back to someone who has almost nothing to digest.

    • frameworks says up
      4 October 2011 at 18: 08

      I agree with you Jack! But the system with the tube and your own note with the bill works perfectly. At least never complain!

  9. Joe van der Zande says up
    3 October 2011 at 15: 35

    I know about returns taken back by the bank (spoken to an American)
    He let me know, after looking at his pick truck,
    it was bought by him in an auction in Korat.
    45.000 km. on the counter- transfer warrantie-by Ford,
    350.000 baht all inclusive.
    he says the auction will be held in Korat - around Tesco .
    so close to the big Mall.
    The auction has 3 levels top, middle and low.
    top is guaranteed for authenticity by the auction house.
    When registering, I thought 20.000 bath had to be paid in advance,
    By no purchase refunded as he informed me.
    Found this to be good information for me.
    but I haven't been active yet.

    Gr. yo.

    • lex says up
      3 October 2011 at 22: 42

      .
      I would like to respond to this comment with 1 of the house rules, this piece is practically unreadable, Dutch and English mixed up, spelling mistakes, y instead of ij

      Check spelling and grammar. We make an exception for dyslexics and people with a limited command of the Dutch language. We keep slob foxes away. The excessive use of punctuation marks such as multiple question marks and exclamation marks in a row is not allowed.

      Editors, please keep an eye on these types of submissions to increase readability.

      Thanks in advance,

      Lex

      • lex k says up
        3 October 2011 at 22: 50

        my apologies for the slip of the keyboard

        • lex says up
          4 October 2011 at 18: 34

          I have not written down the words sharp and sharpener, or a combination thereof, so I have not made any mistakes

  10. Jan Maassen van den Brink says up
    4 October 2011 at 10: 47

    It's a pity that you don't honestly admit that you also make mistakes

    • Khun Peter (editor) says up
      4 October 2011 at 10: 50

      @ Jan, you have to make it clear who you are responding to.

  11. Joe van der Zande says up
    4 October 2011 at 13: 44

    If I am meant by bad writing,
    then my apology here.
    Have been living abroad for about 35 years, so no more Dutch writing.

    gr. yo.

    • Khun Peter (editor) says up
      4 October 2011 at 14: 26

      @ Jo, you could start by using an ij instead of y. That should work right?

    • lex says up
      4 October 2011 at 18: 35

      Or use spell check, which will get most of the errors out, unfortunately not all, as I've found to my shame and embarrassment.

      Regards,

      Lex K


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