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  1. #1
    Thailand Expat misskit's Avatar
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    41 per cent of Thais barely make ends meet: poll

    More than 41 per cent of Thais have no savings and are living pay cheque to pay cheque, a new poll shows.


    Bangkok Poll by Bangkok University Research Centre on Saturday published a survey on “Thai people’s financial status in 2020”, saying that 41.1 per cent of respondents lived pay cheque to pay cheque and had no monthly savings, while 28.3 per cent said they had to borrow just to support their families. Some 17.6 per cent said they earned adequately, but their savings this year had been reduced.

    The survey was conducted among 1,221 respondents from all regions of Thailand.

    The majority of respondents (61.3 per cent) listed the reason for their reduced earning/savings as the soaring prices of consumer products, while 36.8 per cent said they had to pay mortgage for house or car, while 29.3 per cent said their businesses had seen fewer customers this year.

    When asked how they coped with financial problems, 81.7 per cent said they had to become more thrifty and think before spending, while 55.7 per cent said they had to cut back on dining out and travelling, 22.7 per cent opted to seeking supplementary income, such as selling items online and becoming a delivery person.

    When asked what expenses were still the top priority even in this economic situation, 80.8 per cent of respondents said utility bills (water, electricity, internet, telephone), followed by food (73.3 per cent) and educational expenses for their children (43.8 per cent).

    41 per cent of Thais barely make ends meet: poll

  2. #2
    Days Work Done! Norton's Avatar
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    Quote Originally Posted by misskit View Post
    41.1 per cent of respondents
    The "respondents" would be middle class folks. The Moobaan I live in would have around 25% who get a pay check. The rest pick up day work for a bit of cash to get by.

    The survey would have us believe 59% are doing ok!

  3. #3
    ความรู้ลึกลับ HuangLao's Avatar
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    Quote Originally Posted by Norton View Post
    The "respondents" would be middle class folks. The Moobaan I live in would have around 25% who get a pay check. The rest pick up day work for a bit of cash to get by.

    The survey would have us believe 59% are doing ok!

    More than likely a much greater percentage that are doing ok...
    As it's always been.

  4. #4
    Thailand Expat misskit's Avatar
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    Never really thought about it before, how many of my CM neighbors live paycheck to paycheck. I reckon 60% have regular work with a healthy paycheck or a decent government pension. I know a couple are hurting because they do contract work or have rental properties that have taken a hit because of the bad economy. How the others are surviving, the ones who sell food or sell at pop up markets, I don’t know.

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    Thailand Expat Pragmatic's Avatar
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    Quote Originally Posted by misskit View Post
    How the others are surviving, the ones who sell food or sell at pop up markets, I don’t know.
    As they've always done. Live for today and worry about tomorrow when it comes. Shit happens.

  6. #6
    Days Work Done! Norton's Avatar
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    Quote Originally Posted by misskit View Post
    How the others are surviving, the ones who sell food or sell at pop up markets, I don’t know.
    Not well Kit. However, they are quite good at figuring how to adjust living costs downward to "get by".

  7. #7
    Thailand Expat raycarey's Avatar
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    Quote Originally Posted by misskit View Post
    I reckon 60% have regular work with a healthy paycheck or a decent government pension.
    many are likely in debt up to their eyeballs.

  8. #8
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    It's a shame that nobody educates them on money management.

    The report missed out on the statistic that 93% of all Thais go blow most of their monthly wage on the first weekend of getting paid by going out drinking, eating and dancing to excess in establishments that exceed their means.

    Fine for the youngsters with zero commitments, but this carelessness carries on until through each age barrier.

    * I made up the 93% bit before one of the more aggressive posters chips in.
    Black diamonds? I shit 'em.

  9. #9
    CCBW JPPR2's Avatar
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    Quote Originally Posted by Norton View Post
    The "respondents" would be middle class folks. The Moobaan I live in would have around 25% who get a pay check. The rest pick up day work for a bit of cash to get by.

    The survey would have us believe 59% are doing ok!
    Adding to that Norton, what was the cross section polled? Furthering that, what country has 50% or more of its population not living pay check to pay check? In the states I would venture to guess that 65% or more are check to check or floating cash via credit cards.

  10. #10
    Pedantic bastard
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    Quote Originally Posted by raycarey View Post
    many are likely in debt up to their eyeballs.
    Exactly. My son went to a reasonable private school, not first rank. But the number of parents (to be fair, the data set is based on those whom my missus was friendly with) paying the school fees in installments was quite shocking, and they were often quite behind in the payments. All had big fuck off cars mind.

  11. #11
    Lone Monarchist
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    Quote Originally Posted by Pragmatic View Post
    As they've always done. Live for today and worry about tomorrow when it comes. Shit happens.
    78 Percent Of Americans Are Living Paycheck To Paycheck – Including Many Government Workers Affected By The Shutdown - The Daily Coin

  12. #12
    Thailand Expat misskit's Avatar
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    ^ And, some of them have big fuck-off cars, too, but we are discussing Thais.

  13. #13
    Member elche's Avatar
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    Quote Originally Posted by Bogon View Post
    The report missed out on the statistic that 93% of all Thais go blow most of their monthly wage on the first weekend of getting paid by going out drinking, eating and dancing to excess in establishments that exceed their means.
    Heaven forbid that they eat, have a drink and dance! The horror!

  14. #14
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    41% barely get by- the rest just borrow more from the Bank. Thailand's astronomical personal debt level will never get repaid in many cases, everyone basically knows that and is just shunting the problem for tomorrow to sort out- as it just keeps deteriorating.

  15. #15
    Lone Monarchist
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    Quote Originally Posted by misskit View Post
    ^ And, some of them have big fuck-off cars, too, but we are discussing Thais.
    We are discussing Thais yes. But some posters are getting all haughty about how it's a shame that Thais aren't "educated" like us in the civilized world. Which would be great if it was actually true.

    The reality is , it's not. And in the US and Canada anyway , the rate of ppl living check to check is higher. And personal debts are higher than that of Thais.

    A survey by the Canadian Payroll Association found that 48 per cent of respondents said they rely on each payday to cover their bills.
    Last edited by Backspin; 16-11-2020 at 12:22 AM.

  16. #16
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    Quote Originally Posted by Backspin View Post
    We are discussing Thais yes. But some posters are getting all haughty about how it's a shame that Thais aren't "educated" like us in the civilized world. Which would be great if it was actually true.

    The reality is , it's not. And in the US and Canada anyway , the rate of ppl living check to check is higher. And personal debts are higher than that of Thais.

    A survey by the Canadian Payroll Association found that 48 per cent of respondents said they rely on each payday to cover their bills.
    When daddy can always bail you out, why worry about others? Even a dopy twat like you knows that most people pay their bills when they get paid. Failure to do so, can cause havoc with any kind of lifestyle you might pursue.

    It is a generalisation that Thais live beyond their means, because they are educated to be good little drones for the government to control. Unfortunately, their society is full of nice shiny things like iPhones and pick up trucks available on credit.
    There are a decent percentage of Thai who are clever enough to ignore the education system that has failed them, but they are a minority.

  17. #17
    Thailand Expat
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    Quote Originally Posted by elche View Post
    Heaven forbid that they eat, have a drink and dance! The horror!
    Not the point I was making.

    Go and have some fun, but don't put yourself on the backfoot every payday.

  18. #18
    ความรู้ลึกลับ HuangLao's Avatar
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    Quote Originally Posted by Switch View Post

    It is a generalisation that Thais live beyond their means...
    Almost always cast by way of myths and stereotyping - more often than not generated from lack of knowledge or simple everyday observations.

    The overwhelming percentage of Thais, from all classes, don't care to live beyond their means nor are piled up with debt.

  19. #19
    Hansum Man! panama hat's Avatar
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    Quote Originally Posted by JPPR2 View Post
    Furthering that, what country has 50% or more of its population not living pay check to pay check?
    I'd suggest most of northern Europe for a start . . . Aus, NZ, Japan, S Korea



    Quote Originally Posted by Pragmatic View Post
    As they've always done. Live for today and worry about tomorrow when it comes. Shit happens.
    The problem is that times have changed and switch is spot on when he talks about 'nice shiny things' now available, not only for the adults but also for the children.

    Far more debt, far more repayments . . . they're fu@ked


    Quote Originally Posted by HuangLao View Post
    The overwhelming percentage of Thais, from all classes, don't care to live beyond their means nor are piled up with debt.
    Quote Originally Posted by HuangLao View Post

    I'd disagree, the leap from owning what is needed to what is wanted has been taken up with vigour in Thailand, easy lending criteria with little chance of re-payment and repossession and foreclosures are widespread

  20. #20
    Thailand Expat Latindancer's Avatar
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    Quote Originally Posted by sabang View Post
    41% barely get by- the rest just borrow more from the Bank. Thailand's astronomical personal debt level will never get repaid in many cases, everyone basically knows that and is just shunting the problem for tomorrow to sort out- as it just keeps deteriorating.
    No worries...just encourage the daughter to marry a farang, and wring him dry.

    Plus, kick start it all with a nice big Sin Sot.

  21. #21
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    maybe if the only have 1CAR,1 BIKE,SPEND LESS ON THE LOTTERY that could HELP.

  22. #22
    CCBW JPPR2's Avatar
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    Quote Originally Posted by misskit View Post
    but we are discussing Thais.
    True MK, I guess my point comparing is that it is not a Thai exclusive behavior so the news is not really surprising. Then all the responses about Thais and how they lack financial common sense. Any country with a loan or credit card system will find the vast majority of its population in debt to a great degree which leads to a "Pay check to pay check" lifestyle. That said, I can understand why people want to live in the now versus saving and saving.

    Quote Originally Posted by panama hat View Post
    I'd suggest most of northern Europe for a start . . . Aus, NZ, Japan, S Korea
    I'd like to see those stats. I'd venture to say Australians and S Koreans are check to check. Can't speak to NZ. But again It would be the polling segment and how many to get a true assessment.

  23. #23
    Hansum Man! panama hat's Avatar
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    Quote Originally Posted by JPPR2 View Post
    I'd like to see those stats. I'd venture to say Australians and S Koreans are check to check. Can't speak to NZ. But again It would be the polling segment and how many to get a true assessment.
    Aussies have higher savings than Kiwis at 2-3%

    Germany/Switzerland savings ratio over 20%

    Sweden 8.6%

    Netherlands 12%

    Austria 5%

    Poland 5%

    Czech Republic 13%

    Etc . . .

    And, let's not forget the social services and support given by the governments in developed economies.


    This isn't a criticism of Thailand as Indonesia, the PIs, Cambo etc.. are in similar situations.

  24. #24
    CCBW JPPR2's Avatar
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    Quote Originally Posted by panama hat View Post
    Aussies have higher savings than Kiwis at 2-3%

    Germany/Switzerland savings ratio over 20%

    Sweden 8.6%

    Netherlands 12%

    Austria 5%

    Poland 5%

    Czech Republic 13%

    Etc . . .

    And, let's not forget the social services and support given by the governments in developed economies.


    This isn't a criticism of Thailand as Indonesia, the PIs, Cambo etc.. are in similar situations.
    PH, Maybe its Monday but I do not understand your stats. What are they telling us? What do those percentages reflect? It appears savings but not sure how it defines the % people are in debt to the population?

  25. #25
    Lone Monarchist
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    Quote Originally Posted by Switch View Post
    When daddy can always bail you out, why worry about others? Even a dopy twat like you knows that most people pay their bills when they get paid. Failure to do so, can cause havoc with any kind of lifestyle you might pursue.

    It is a generalisation that Thais live beyond their means, because they are educated to be good little drones for the government to control. Unfortunately, their society is full of nice shiny things like iPhones and pick up trucks available on credit.
    There are a decent percentage of Thai who are clever enough to ignore the education system that has failed them, but they are a minority.
    You just doubled down you utter donkey. The data shows that there's nothing special about Thais when it comes to fucking debt and spending.

    It's just something that ppl like you use to cut down Thais.
    Last edited by Backspin; 16-11-2020 at 11:34 PM.

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