Page 2 of 2 FirstFirst 12
Results 26 to 34 of 34
  1. #26
    Thailand Expat terry57's Avatar
    Join Date
    Mar 2007
    Last Online
    Today @ 11:41 AM
    Posts
    26,670
    I think we can call this on not being a teacher but more about being fuking stupid with money.

  2. #27
    ความรู้ลึกลับ HuangLao's Avatar
    Join Date
    Jun 2017
    Last Online
    @
    Location
    สุโขทัย
    Posts
    8,541
    Quote Originally Posted by Farang Ky Ay View Post
    ^ Agree, it's an important perk, always mentioned when discussing about this job. I know a few Thai teachers, some are family others neighbors or friends...all of them have debts. Only one, the youngest, has what I consider a justified debt: she bought a 2nd hand Vios to get to work (30km from her home on mountain "highway").


    TBH the debt issue seems more prevalent here than in most western countries, even the ones were living on loans/credit cards is kind of the way of life (financial crisis surely "helped").

    Adding: the base indoctrinated traits of living beyond one's means and the instinctive lust of mindless/unnecessary consumption plays an integral factor in creating the overwhelming personal and corporate debt that appears to be quite universal.

  3. #28
    Thailand Expat
    Klondyke's Avatar
    Join Date
    Aug 2014
    Last Online
    Today @ 01:22 PM
    Posts
    7,596
    Quote Originally Posted by Farang Ky Ay View Post
    TBH the debt issue seems more prevalent here than in most western countries, even the ones were living on loans/credit cards is kind of the way of life (financial crisis surely "helped").
    Not very unusual in other countries either:

    This is what nearly $14 trillion of household debt looks like

    In the third quarter of 2019, total household debt rose to $13.95 trillion in the United States

    That's more than $1 trillion higher than Q3 of 2008 - in the great recession

    Mortgages account for the majority of this debt - at $9.44 trillion

    Total household debt in the United States, including mortgages, auto loans, credit card and student debt, climbed to $13.95 trillion in the third quarter of 2019, eclipsing the debt level at the height of the great recession in Q3 2008 by $1.28 trillion in nominal terms.

    That’s according to the Federal Reserve Bank of New York’s latest Report on Household Debt and Credit, which also shows that the delinquency rate, in this case the percentage of the total household debt balance that is at least 30 days past due, is significantly lower than it was back then (4.8 percent vs. a peak of 11.9 percent at the end of 2009), indicating that today’s debt burden isn’t as worrisome.

    Standing at $9.44 trillion, mortgages still account for the lion’s share of the total debt balance, with student loans a distant second at $1.50 trillion. While credit card debt “only” amounts to $0.88 trillion, 8.3 percent of total credit card debt is 90+ days delinquent, trailing only student loans (10.9 percent) in that unfavorable category.




    What is the total household debt in America? | World Economic Forum

  4. #29
    Custom user Neverna's Avatar
    Join Date
    Mar 2012
    Last Online
    @
    Location
    Behind a rhododendron bush
    Posts
    19,117
    Quote Originally Posted by Pragmatic View Post
    I do not understand this about the government helping out the teachers financially. The teachers, nurses, police etc all have Credit Unions to help with finance. Low cost loans are given and paid back by the employer each pay day. The borrower doesn't pay it back directly other than through his employer. Which guarantees repayment.
    This is another route to borrow money but they have the added expense of having to also buy life insurance from an insurance company, and I suppose the added cost of the insurance premiums make it more difficult to make ends meet and/or pay back the loan.


    โครงการสวัสดิการเงินกู้การฌาปนกิจสงเคราะห์

    www.moe.go.th/moe/th/news/detail.php?NewsID=1037
    Nev has style

  5. #30
    Thailand Expat
    Farang Ky Ay's Avatar
    Join Date
    May 2009
    Last Online
    21-06-2020 @ 07:56 PM
    Location
    Chiang Mai
    Posts
    1,834
    Quote Originally Posted by Klondyke View Post
    Not very unusual in other countries either
    I was thinking of the US way of life when talking about some countries where it's more common to have debts...&S household debt is about 74% of the GDP, Thailand is around 78%>
    And if we could focus on teachers, I think the gap would be wider.

  6. #31
    Thailand Expat

    Join Date
    Jul 2018
    Last Online
    Today @ 12:57 PM
    Location
    nakhon ratchasima
    Posts
    1,631
    just look at the rate of interest that is charged by the banks on loans,compare to what saving rates are,when those lend money to the banks.
    most thai's that are a little bit short of brains get stuffed by most,a friend of the wife came to see her not long ago,her mortgage repayments had gone up 50%,wasnt awhere that the first 10yrs.the loan was a lower rate,WAS she told this when taking out a mortgage,you can make up your own mind.
    how many walk past the banks only to SEE this,FIXED RATE SAVINGS 7% its only when you magnify the small print its only for the final 3months or so,of a stepped acc.
    teachers are supposed to be EDUCATEd

  7. #32
    Thailand Expat

    Join Date
    Sep 2014
    Last Online
    Today @ 01:17 PM
    Posts
    14,443
    I'm amazed at just how naive folk can be when estimating the sophistication of the average Thai, 90% of whom were mired in rural peasant poverty only 50 years ago, when the tallest building was a mere 10 storeys tall, entertainment in the village was a communal film show and the greatest spectacle they were ever likely to see was the King's birthday celebration.

    In truth, access to credit for the majority only became the norm a mere 20 years ago when Thaksin came to power.

    These people have never known a boom/bust cycle in the context of debt exposure, the 1997 Asian Tiger crash destroyed the rich but the vast majority of the population were relatively unaffected given most didn't have a significant pot in which to piss and therefore had nothing to lose and were cushioned by the fact many folk were from subsistence farming communities and were self sufficient for food and shelter.. Now it's different and when the next bust comes along they are going to find out for the first time what a recession truly means when they lose their mortgaged properties, their pickups and their savings yet remain saddled with debt.

    As the man said, " a hard rain is a gonna fall".

  8. #33
    Thailand Expat terry57's Avatar
    Join Date
    Mar 2007
    Last Online
    Today @ 11:41 AM
    Posts
    26,670
    You are spot on with that sausage Arse.

    The average Thai struggles to manage 10 Bht and it's all gunna go tits up not in the to far future.

    But the fukers need to learn a hard lesson eh.

  9. #34
    Member
    Join Date
    Feb 2010
    Last Online
    Today @ 12:02 PM
    Posts
    657
    I remember a few years ago it was the police asking the governemnt for help with their loans and now its teachers.
    The reason in my opinion is these people are taught to obey the Govt. so when they get into difficulty its ask the "Boss" for help.

    I agree that the main problem is that they don't understand managing money.
    Personally I am now debt free and the main reason that was achieved is due to paying off all my personal debt and that allowed me to save what would have otherwise be paid in interest to the thieving banks. They charge huge interest on Credit cards and pay you stuff all for the money you keep in their bank.

    I have a Thai friend who was struggling to keep up payments on his pickup so he decided to sell it to pay off the debt. He was astounded to find out that if he sold it then he would still owe B50,000.

    Education is the only way to changes things and how do you educate some one in the ways of handling money, let them fail a few times as then the hard truths might sink in.

    I am not sure who said it but I think it was Robert Menzies, a long serving prime minister in Australia, and he when asked how to control the unions replied "give them credit"!

Page 2 of 2 FirstFirst 12

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •