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BANGKOK 13 November 2018 12:08
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Cost of Living in Thailand: Save money? You're having a laugh!

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Cost of Living in Thailand: Save money? You're having a laugh!

 

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A survey commissioned by the Government Savings Bank has found that "grassroots" income in Thailand is too low for the majority of Thais to save anything for the future.

 

The survey revealed that people earning under 15,000 baht have a real struggle to survive.

 

Only 32.2% made any saving at all. About 56% of that number put a little away each month. 

 

This averaged out at about 1,500 baht among those that saved anything.

 

Some 70% of people who saved did so for reasons of possible future emergencies or ill-health. 

 

Only a quarter are planning for retirement in any way. 

 

Workpointnews published the story highlighting the fact that low income "grassroots" earners were finding it difficult to save. 

 

Source: https://www.thairath.co.th/content/1407973

 
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-- © Copyright Thai Visa News 2018-11-2

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Thats partly to blame on the fairly high increase in salaries for everyone in Thailand less than a half a decade ago, which caused a spending and loaning boom and was followed by an abnormal increase in prices and taxes, which has only steadily continued to increase, while the yearly increase in salaries has nearly stopped for the mid- and low income class, making it again very expensive for the average Thai.


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