Becoming a frugal expat and budget conscious

[georgegeorgia]

Mods, I believe I have the right forum but if not please don’t hesitate to move it.

 

First I just want to say I spend most of my long holidays in Pattaya,my last holiday was as expensive as , with the aussie dollar being way way down so most of the things tshirts shoes etc I can get cheaper back in Aussie land.

 

I do plan to retire to Thailand,looking at maybe 7 to 10 years  from now,  am rethinking Pattaya though.

 

My last long holiday period I was “ careful “ with money but not what you would call frugal; however if I was a full time expat I would have to become frugal.

I would set a budget etc just as some expats who are good with money told me.

 

Some big mistakes I made during my “ long holiday” was overtipping , or tipping the wrong people; eg motorbike taxi drivers , I use to practically use the same ones everyday outside my holiday Condo, trouble is  despite saying tipping them 20 b extra *80b for a 60b qoute* most  days ,

I was 10 baht short one particular  day ( had 1000 baht notes or 50baht , he wanted 60b )

and the guy who I had tipped previously several times refused to take me unless I coughed up the extra 10 baht so would have to stop at a 711 to break a note, so I learnt quickly that they the MB taxi  soon forget , so didnt bother tipping them after that just paid the said qouted fare.

 

As time went on I found out I tipped less anyway even bars and sometimes if I felt I wasnt coming back to the establishment or the staff didnt seem to care about service I didnt bother leaving even standard 20baht,just wasting it otherwise  other times I would go over board  and leave too much.

 

As much as I hated it , I had to haggle because I badly needed clothes; and I certainly was going to pay anything from 400 to 900 for a t shirt but eventually I started to haggle with a smile and used it as a game rather than be serious , although I had to be serious of course rather than lose money.,

 

I found out many times to always ask first how much in any transaction rather than wait until after.

 

Transport was one of my biggest expenses because I cannot drive a motorbike, although laziness eg not wanting to walk contributes to it more , eg I could of got the baht bus in Pattaya  or in Bangkok the sky train but chose to use mb taxis or tuk tuks .

 

To be continued 

 

 

 

 

 

 

Edited September 6, 2018 by georgegeorgia

[johng]

There is almost no need to TIP,
learn to ride a bicycle...if you can ride a bicycle you can ride a twist and go scooter 13,000+ baht,you can get good enough quality clothes from Tesco and
Big C....they often have price reductions ..in Pattaya there is the Soi BuaKhow and Theprasit markets for low cost stuff...its not so difficult to live frugally in Pattaya/Thailand

[Rally123]

First rule if you can only live frugally then don't bother hitching yourself up to a Thai bint. They don't like 'frugal'. Second rule stay in Oz if you haven't got financial back up to support yourself if you become ill. I could go on but I'm sure you get me drift? 

Edited September 6, 2018 by Rally123

[georgegeorgia]

46 minutes ago, Rally123 said:

First rule if you can only live frugally then don't bother hitching yourself up to a Thai bint. They don't like 'frugal'. Second rule stay in Oz if you haven't got financial back up to support yourself if you become ill. I could go on but I'm sure you get me drift? 

Thats not the case, with my paid off house plus Superanution i have well over 1 million Australian right now and  not due to retire until 2030, but I wish I could now if I had enough to retire earlier, cant access my super until 2030

 

however this thread is not about not being able to afford it,its about being sensible with money  so i dont waste it, and live on a budget as a expat , I have been careless with money ,its my own fault but in that long holiday i took to pattaya i knew i couldnt keep spending like that regardless if i had a lot if money, it would run out eventually 

 

as for Thais girls wont like me when im frugal ,I dont really care .I know a old GF once shouted at me for being careless with money though,  so she seemed to respected more money smart types.

Edited September 6, 2018 by georgegeorgia

[georgegeorgia]

55 minutes ago, johng said:

There is almost no need to TIP,
learn to ride a bicycle...if you can ride a bicycle you can ride a twist and go scooter 13,000+ baht,you can get good enough quality clothes from Tesco and
Big C....they often have price reductions ..in Pattaya there is the Soi BuaKhow and Theprasit markets for low cost stuff...its not so difficult to live frugally in Pattaya/Thailand
 

Your right about the bike although i would love to try and ride  a motorbike i have never done so.

i can get about  using baht buses but knowing myself I need to overcome laziness ,that is changing buses etc and walking part of the way.

 

A couple of things I learnt in my long holiday period was I changed , I changed probaly about 3 weeks into it where I became more less caring i guess you could say, 

 

i recall having a foot massage up near tukcom and the lady telling me through out the massage how poor she was etc so silly me tipped her 100 baht thinking she would be happy,well she put on a sour look on her face and walked off showing other sour looking girls the 100 b , all sour looks no thankyou and i was disappointed,

 

so i went from that holidaying lovely generous guy in a few weeks to a non caring ass who when they told me during the massage or before the waitress serving me food that they were poor and needed tips and can i give them ,

 

I began telling them they better be good at their job then if they wanted extra, i became like that , 

Edited September 6, 2018 by georgegeorgia

[NCC1701A]

I live in Thailand and have a budget and an expense app that I keep track of every baht so I know where I am and where all the money went, as 90% of it is cash. 

 

Easy to find used clothing here in Thailand that are really factory rejects. I found a beautiful linen shirt for 60 baht.  Tee shirt are 30-50 baht. used jeans 250-400 baht. Just go to Thai markets and stay out of big malls. 

 

Every three years I have a budget to return to the USA to go shopping for high quality stuff you can't get in Thailand. And it is super cheap compared to to here.  Those trips add up and should be factored in to your plans.  

 

1 hour ago, georgegeorgia said:

I do plan to retire to Thailand,looking at maybe 7 to 10 years  from now,  am rethinking Pattaya though.

 

 7 to 10 years out is too far to know what is going on in the world. Just focus on saving every penny now so you are much better off.  I made a spread sheet that projected 10 years into the future leading up to my retirement to Thailand. Don't forget about inflation. 

 

One basic goal was to be able to have 800,000 baht to put into a Thai bank so I would not have to worry about income statements or exchange rates. will that requirement change? who knows?

 

Ironically I had to give up coming to Thailand on vacation so I could set that money aside for the future. So the last four years I went without vacation and saved and saved. Sold very last thing I had. Saved a pile of cash. 

 

Every girlfriend in Thailand I tell them I have a budget to follow. Some understand and are helpful, others not so much. Go over budget, your division is shut down.

 

 

 

 

 

Edited September 6, 2018 by NCC1701A

[AlexRich]

I’ve been to Pattaya off and on for several years now, as well as Northern Thailand and Bangkok. I’m not much of a boozer so tend not to spend much time propping up the bar. So my main expenses are hotel, gym and food. As it’s a shorts and t-shirt place there’s not much point in spending a great deal on clothes, I buy sports fabric clothes that fit the climate. 

 

I stay close to the Baht bus routes, I never use taxis, cars or motorbikes, there’s no need, except to the airport. I’m surprised an Aussie is tipping as it’s not part of your culture ... I don’t tip very often, only to a regular haunt where I know the staff. I like the local dishes so eat mostly local fare. I don’t deprive myself of anything that I want but tend to get by on a modest budget. I wouldn’t spend too much on accommodation ... all you need is it to be clean, safe and well situated. I only really sleep there as I’m mostly outside. Where women are concerned talk down your wealth ... modest pension, little spare cash, etc. Just don’t be a fool with your money.

 

if you do that you’ll be fine no matter where the currency lies. 

[wgdanson]

1 hour ago, georgegeorgia said:

I know a old GF once shouted at me for being careless with money

Maybe that's my wife!!!!

[Lacessit]

Pattaya is one of the more expensive places in Thailand to live, along with Bangkok.

If the OP wants to save on transport costs, a secondhand low km scooter is the way to go, plus learning defensive driving. In Chiang Mai, a scooter is far more mobile than anything on four wheels. I fill up about once a fortnight for 80 baht.

It's a bit tricky to retire here before the superannuation comes into play, because our Australian bureaucrats love setting trapdoors. So be careful.

 

Edited September 6, 2018 by Lacessit

[Guderian]

If you want to live on the Baht bus routes because you can’t ride a motorbike you’ll find that accommodation is (much) more expensive than if you move away from them. Many older people are scared of riding motorbikes, but the smarter ones do something about it. You can get numerous modified motorbikes with three wheels in Pattaya if you’re worried about balance. Some have a very wide pair of wheels at the front or back, like one of those down-market Harley hogs you see, if you really feel unstable. Others have a narrower separation if you’re just feeling a little bit nervous. If you’re really pushed for money then you can buy a Thai-style samlor, like the street vendors use. Get a second-hand scooter like a Honda Click, maybe 20K or 30K Baht, and for around 10K-15K Baht you can have a sidecar made to your own specifications and attached to it. Quite a few disabled people in Pattaya get around in one of these, the sidecar is made to fit their wheelchair and they have a ramp at the back that lowers down for easy access. The other great advantage of the samlor is that you can have a nice, big sunshade fitted for around 2K Baht, no point in getting toasted in the sun if you don’t have to. Heck, you can even have a music system and cooling fan installed if you want, your imagination’s the limit. If those options don’t suit you then there are numerous small battery and petrol operated three wheel vehicles on sale, like mobility scooters for example, that will enable you to live in the cheaper areas and still get around where you want. Rent is probably the biggest single expenditure for most people here, so minimizing it while still having a nice place is important. Getting yourself fully mobile is one way to cut your costs in the long run.

[murraynz]

there is NO  need to tip in  Pattaya---its a good idea to live close to baht bus routes--this can save a lge amount per month, even compared to mbike taxi fares.

i buy most of my foods at supermkts +plus one restaurant dinner and one breakfast per week.

i buy very healthy veges and fruits at smarket, plus some euro foods{more expensive}

doing this--i  can average less than 250bht per day for food {everything is recorded}

i spend nothing on clothes---mostly only  wear shorts..already have plenty of shirts etc..

i 'splash out' once a week at the bars ,with lovely ladies...6,000 a night, doesnt worry me---i only get one life---cant take it with me.

take note---drinking in gogo bars is NOT  cheap....

[wanderluster]

if living in aus is cheaper and better than thailand, just stay there, we dont need more bad farong here. You say you are a millionaire and then you cry about 20 baht.  again please stay in aus and dont give us farong bad names.

[metisdead]

A grammar police post has been removed. 

 

A post using ALL CAPS has been removed, please turn off your Caps Lock when posting. 

[Nemises]

Thats not the case, with my paid off house plus Superanution i have well over 1 million Australian right now and  not due to retire until 2030, but I wish I could now if I had enough to retire earlier, cant access my super until 2030     

 

Crikey. You have “well over” 1 million AUD now, a paid off house, still another 12 years income in the Australian workforce plus Super.... yet you want to live FRUGALLY in Thailand.

 

How much money would you like to have to live COMFORTABLY in Thailand?

 

Your post is a gee up, yeah?

 

 

 

 

Edited September 7, 2018 by Nemises

[Brunolem]

I have visited Australia quite extensively and it is one of my favorite countries.

 

If I was Australian and well off, as you seem to be, I would certainly not consider retiring in Thailand.

 

Everything is better in Australia...the landscapes, the climate, the diversity...except the women, too "athletic" for my taste...

 

Yet, even when it comes to women, there are better places than Thailand for those who can afford it, such as Singapore, where you can meet well educated beautiful women with whom you can actually have a conversation!

 

On top of that, Pattaya has been on a slippery slope for more than ten years now...the newcomers may still find it exciting, but as we old timers who have fled the city often say "in Pattaya it is always less (service) for always more (money)".

 

Better not to think what it will be 12 years from now, at the current rate...

 

By Thailand standards, Pattaya is not cheap, and is not getting cheaper.

 

People who are serious about living on a shoestring kind of budget avoid Pattaya like the plague and move upcountry.

 

Finally, I won't expand on the 2030 horizon, because that would be off topic, so I will just say "let us pray...".

[Lacessit]

1 hour ago, murraynz said:

there is NO  need to tip in  Pattaya---its a good idea to live close to baht bus routes--this can save a lge amount per month, even compared to mbike taxi fares.

i buy most of my foods at supermkts +plus one restaurant dinner and one breakfast per week.

i buy very healthy veges and fruits at smarket, plus some euro foods{more expensive}

doing this--i  can average less than 250bht per day for food {everything is recorded}

i spend nothing on clothes---mostly only  wear shorts..already have plenty of shirts etc..

i 'splash out' once a week at the bars ,with lovely ladies...6,000 a night, doesnt worry me---i only get one life---cant take it with me.

take note---drinking in gogo bars is NOT  cheap....

6000 a night? Are you barfining every girl there?

[johng]

In some places it would only be 2 or 3 bar fines..best to get their phone number and call them when their "off duty" or just wait till the bar closes.

[OneMoreFarang]

I recommend you learn Thai - in case you don't speak it already.

It makes a big difference if you ask in relative fluent Thai for prices or in English.

In my experience many Thais like you not because of tips, they like or respect you because you treat them well.

Too many (want to be) HiSo Thais and some foreigners treat them like $hit. Be nice, they are humans.

Say hello to the security guards, talk to the (motorcycle) taxi drivers in your Soi, etc.

 

 

[OneMoreFarang]

12 minutes ago, johng said:

In some places it would only be 2 or 3 bar fines..best to get their phone number and call them when their "off duty" or just wait till the bar closes.

That saves money but I think often it's not a good idea.

Many girls, and not just they, are sometimes in a good mood and sometimes in a bad mood. If you call her and see her off duty it will be difficult to get rid of her if she is in a bad mood. If you visit her in her place of work and she is happy and makes you happy take her out. If not look for alternatives. That cost a little more but it makes sure you don't end up with a girl in a bad mood which you still have to pay.

[SheungWan]

If you cut back on eating in falang restaurants you will save quite a bit over the long term.

[wolf81]

On 9/6/2018 at 6:58 PM, georgegeorgia said:

Thats not the case, with my paid off house plus Superanution i have well over 1 million Australian right now and  not due to retire until 2030, but I wish I could now if I had enough to retire earlier, cant access my super until 2030

 

however this thread is not about not being able to afford it,its about being sensible with money  so i dont waste it, and live on a budget as a expat , I have been careless with money ,its my own fault but in that long holiday i took to pattaya i knew i couldnt keep spending like that regardless if i had a lot if money, it would run out eventually 

 

as for Thais girls wont like me when im frugal ,I dont really care .I know a old GF once shouted at me for being careless with money though,  so she seemed to respected more money smart types.

I'd think with 1.000.000 AUD in assets you should be able to retire right now in Thailand, if you wanted to.

 

You could earn money renting out property and profit from investments. Profit on investments (safe obligation indexes) would average around 4% a year while on stock indexes would earn 7% on average a year. 

 

Personally I think I could live here fine with my GF and daughter in the countryside of Thailand if I'd have around 300.000 EUR in investments (no housing and car loans, no rent costs, etc…). That should average at least around 45.000 Baht per month (assuming a 5% average profit). Of course I mainly eat Thai food and both me and my GF are not party people. 

 

If you're single and you got double the amount, you should be more than fine, right? Unless you like to spend much time in the bars and with bargirl perhaps, then you might get short on money, maybe.

Edited September 7, 2018 by wolf81

[georgegeorgia]

5 hours ago, wanderluster said:

if living in aus is cheaper and better than thailand, just stay there, we dont need more bad farong here. You say you are a millionaire and then you cry about 20 baht.  again please stay in aus and dont give us farong bad names.

I promise i wont give u " farong" bad names.

[georgegeorgia]

5 hours ago, Nemises said:

Crikey. You have “well over” 1 million AUD now, a paid off house, still another 12 years income in the Australian workforce plus Super.... yet you want to live FRUGALLY in Thailand.

 

How much money would you like to have to live COMFORTABLY in Thailand?

 

Your post is a gee up, yeah?

 

 

 

 

You might not understand Sydney Real estate..my house is worth in the $850,000 to 900,000 ...and going down in price unfortanetely..thats very cheap in Sydney...my superanuaion i cannot access until im 60.approx 150k at this stage....

 

To move to Pattaya i would have to sell up and live off the sale.

 

No its not a gee up, sounds a lot of money but im not going to risk it by selling up everything  yet.and nowadays its not a lot to live off in Thailand.

 

Sorry it just occurred to me you thought i had a milion dollars too...no just the house and superanustion...so im asset rich cash poor i guess.

 

 

 

Edited September 7, 2018 by georgegeorgia

[manarak]

5 minutes ago, georgegeorgia said:

I promise i wont give u " farong" bad names.

 

I understand your angle, OP.

 

I always also try to not spend more than I earn.

 

In Thailand, there are 2 keys to not spending more than necessary: knowledge and organization.

 

Knowledge because there are many good deals in unexpected places - such as -65% off deals on cotton bedsheets at central or other promotions - just keep yourself informed, eyes open, join some groups like second hand pattaya, etc. you can also get many interesting discounts through "membership cards" or "VIP cards", through visa or mastercard, through being a bank customer, etc.

Many banks also have VIP cards for customers depending on how much assets you have with them.

 

Organization

Making the right choices for accomodation will save substantial money. Buy a condo charging government prices for electricity and water, situated on a baht bus route, if possible within walking distance of a supermarket. Small amounts saved every day have a significant impact. Therefore, choose a condo that doesn't get too hot in the day (i.e. is shielded from the sun) and your aircon bill will be lower.

 

If staying longer in Pattaya, you will notice relationships that started based on money will end when money is taken out of the equation.

 

[SteveK]

My wife hates me spending money at the market here because she knows I will probably pay too much, 10 baht here and there extra is a lot for her. So she buys all my clothes and food. They're not all money grabbers.

[manarak]

Just now, pr9spk said:

My wife hates me spending money at the market here because she knows I will probably pay too much, 10 baht here and there extra is a lot for her. So she buys all my clothes and food. They're not all money grabbers.

she's clever - there will be more left for her then ?

[CharlieH]

Why not sell the property then take 50% and buy another in Oz somewhere and rent that out.

Use the other half to establish yourself better in Thailand then you havnt burnt your bridges and can return if you need/want to.

With 10mil you can set yourself up nicely if your careful and you'll have an income from the rental and can forget the super til later.

 

Just a thought. Worked for me.

[Russell17au]

One thing that you need to remember, Pattaya, Phukett, Krabi, Chang Mai, Hua Hin are tourist areas much the same as places like the Gold Coast, Sunshine Coast, Cairns, Townsville, so you have a higher cost of living than that of other areas of Thailand, so you may want to think about the area that you want to live. It is the typical "tourist" mark up prices.

[geisha]

If a person has to pay rent in his home country, then obviously life will be quite expensive, and no way you can get by on 40 to 50 thousand baht a month and still enjoy yourself. Luckily, in Thailand, even if you rent a nice condo with pool ( I pay 18000B)  go out often for a meal in the local restaurants , have a drink etc, you can easily get by on another 20.000 B . ( excluding paying the ladies and men supporting families ) .Even if I wanted to spend more, I don’t see what on. What I do spend more on is holidays to Bangkok , a week on Koh  Chang , and  neighbouring  countries . The one thing that is not negligible, is health insurance, which I believe everyone should have, or a nest egg to cover surprises. 

[mstevens]

On 9/6/2018 at 11:58 PM, georgegeorgia said:

Thats not the case, with my paid off house plus Superanution i have well over 1 million Australian right now and  not due to retire until 2030, but I wish I could now if I had enough to retire earlier, cant access my super until 2030

I'm not sure what your age is but if your heart really is set on retiring to Thailand, with 1 million Australian dollars you almost certainly have enough, especially as you appear to have the mindset and willingness to watch your pennies.

 

I'd expect over the next 12 years that inflation in Thailand will exceed that in Australia, so Thailand is going to become more expensive than it is currently.  And where the exchange rate is going, who knows, but certainly the Australian dollar looks like it is out of favour and there's nothing to suggest it's going to bounce back any time soon.

 

Let's say you sold your house which you own freehold.  $900,000?  That's over 20 million baht, or well over a million baht a year for the next 12 years.  Invest that money and even a modest return of say 4% would get you 70,000 baht a month.  Come 2030 your superannuation becomes available and presumably that's a decent sum.  Why wait to retire?

 

It's a decision that only you can make and it's not just a financial decision but if your net worth is over $1,000,000 Australian then you almost certainly can retire to Thailand now!

Edited September 7, 2018 by mstevens