Due to the Exchange Rates - have you changed your spending habits?

[Denim]

27 minutes ago, BritManToo said:

On the other hand, I wasn't expecting it to reach 25bht/pound.

But now I am.

 

True. When it was 70 plus it was pretty obvious it wasn't going to last. When it was 74 I decided if I was ever going to buy anything here , that was the time to do it. Got house , car, bike trip to Europe.

 

When the fall came I fully expected it to stabilize around the mid 50's ish , which proved to be the case. 

 

Back then who could have predicted Brexit would come along and rain on the parade.

 

[BritManToo]

4 minutes ago, ChipButty said:

we have unavoidable cost like Car insurance

Minimum government insurance is about 500bht.

I get my entire car insurance/tax and road test for under 1,500bht.

[faraday]

Post #21...

 

Robs flush with money, bear that in mind if we needs a loan!

 

 

But yes, we're more cautious with money now; as always though, things will improve with time.

[wgdanson]

11 hours ago, FritsSikkink said:

what about doing some work or start a business to get more local money in?

Working on a retirement extension?

[wgdanson]

11 minutes ago, BritManToo said:

Minimum government insurance is about 500bht.

I get my entire car insurance/tax and road test for under 1,500bht.

How much is your road tax, mine is over 5000 for a Vigo, and 13000 1st class insurance.

So if you have a bump, bye bye car, yes?

Edited August 11, 2019 by wgdanson

[wgdanson]

1 minute ago, FredGallaher said:

I pay 20+K for both for my Foretuner. But it was more in the US. 

What's insurance in the US got to do with it.

[FritsSikkink]

8 minutes ago, wgdanson said:

Working on a retirement extension?

You can only read half the sentence? If you work you get a non B, no need to keep 800K in the bank too.

Edited August 11, 2019 by FritsSikkink

[bender92]

No

[TSF]

5 minutes ago, wgdanson said:

Working on a retirement extension?

Correct, and most of us on retirement ext receive a pension, so working is illegal and we run the risk of serious trouble if anyone reports us, and starting a small business requires capital, legal expenses, and what small business can a farang do anyway?...run a bar?...gotta be joking.

[Denim]

16 minutes ago, BritManToo said:

Minimum government insurance is about 500bht.

I get my entire car insurance/tax and road test for under 1,500bht.

 

Same here. Can't get fully comp for cars over 10 years old.

Ours is a 2003 Vios. Cheap as chips.

[FritsSikkink]

2 minutes ago, TSF said:

Correct, and most of us on retirement ext receive a pension, so working is illegal and we run the risk of serious trouble if anyone reports us, and starting a small business requires capital, legal expenses, and what small business can a farang do anyway?...run a bar?...gotta be joking.

That you can't think about what sort of business to do means you are not fit to do business to start with.

[wgdanson]

4 minutes ago, FritsSikkink said:

You can only read half the sentence? If you work you get a non B, no need to keep 800K in the bank too.

So you reckon someone who HAS been on retirement extension can go out, get a job, get a non B visa, take his 800k out of the bank and hey presto, all is fine.

[wgdanson]

Just now, FredGallaher said:

I also have a Volvo C70 in US with full coverage. Insurance and registration here is cheaper. 

So is my Roller in England.   LOL

[mercman24]

yes my habits have changed, in 4 years my free spends, i have lost 12,000 + baht per month, i bet others have lost a lot more but do not do the book keeping. like i do monthly

[wgdanson]

Just now, mercman24 said:

yes my habits have changed, in 4 years my free spends, i have lost 12,000 + baht per month, i bet others have lost a lot more but do not do the book keeping. like i do monthly

Hey, nothing wrong with keeping tabs on what you spend. Make sure what comes in is always more than what goes out. I've done it for years. Pisses the wife off no end!   LOL

[wgdanson]

6 minutes ago, FritsSikkink said:

That you can't think about what sort of business to do means you are not fit to do business to start with.

I can THINK about opening the Thai version of Playboy Mansion, so does your statement means that I AM fit to do it?

[Banana7]

Still spending 50K-70K baht a month, while owning my accommodation. Instead of converting USD and CAD, I'll start drawing down the THB bank balances. I'm old and know there is not much time remaining for me. I'll spend it while I got it, and if USD goes below 28B or CAD drops below 22, sell the condo and head to greener pastures.

[Mavideol]

14 hours ago, RichardColeman said:

Do what I do - send the wife out to work !

to do that one need's to have a wife, what about the single guys 555

[Mavideol]

12 hours ago, FritsSikkink said:

what about doing some work or start a business to get more local money in?

are you aware to that one needs a WP and spend money to create a company,

[villagefarang]

I have not changed my spending habits at all.  I do note the difference in exchange rates from one year to the next but so far I haven't felt the need to change anything.

[Pilotman]

1 hour ago, FritsSikkink said:

What about the wife, invest in a small business.

a good idea for some, not us however, as it has not got to that stage yet.  As I said in my original post, we have an "acceptable standard of living" and let us hope that we can maintain that position during those less than helpful times. Additionally, I haven't seen a 'small business' here yet that makes any money worth talking about, or that justifies the effort and investment put in. 

[Rdrokit]

The changing exchange rates is one of the things expats moving here do not plan for. Most only look at what the rate is when they make their move to Thailand. When I originally moved here in 2007 the baht rate to the dollar was about 33 to 1 and was still recovering from a low of 25:1 in 2003. So when planning to move here I took into account the the rate may again go to 25:1. So as long as the rate does not go below 25:1 I will not have to cut anything out of my budget. If when planning my move it looked like I could not live at the 25:1 rate I would not have made the move to Thailand.

[fulhamster]

13 hours ago, brokenbone said:

unfortunately i am unable to reduce spending,

i dont know what happened, i used to be somewhat frugal

back home, and even initially in thailand.

i lost the plot, i blame the tipping requests

I stopped tipping after the Brexit vote

[fulhamster]

12 hours ago, FritsSikkink said:

what about doing some work or start a business to get more local money in?

Cannot work when on a retirement extension.

 

Even when I'm asked to.

[Guderian]

Very difficult times for many people now. I know of several British guys living in Jomtien who have little more the UK state pension to live on and it simply isn't enough any more. I just hope none of them is contemplating anything drastic, but as they've cut their ties to the UK completely there's even less back there for them than there is here.

 

I've cut back, not because I have to, my savings and investments outside Thailand are substantial, but simply because I don't feel happy about spending silly amounts of money on things here. Wine in bottles are out, except for special occasions, and the stuff in cardboard boxes is in. You can actually drink it if you hold your nose, lol. I might have to downgrade from Remy Martin VSOP to Regency, I love Remy but at 2200+ Baht a bottle that's heading for 70 quid if the pound tanks much further. Less pocket money for the GF, no large discretionary purchases (sell your Lazada shares they'll be feeling the pinch), and fewer nights eating out.

 

The plan is to give it until Songkran next year, by which time I hope Brexit will have actually happened, for better or worse, and at least we'll have some idea of where things are going. I'm still single, the TGF and I have drifted apart over the last few years, so I'm free to move elsewhere if I want. Have to sell the house though, and that will not be easy in the current climate. I suppose I could rent it out, but I'd prefer to make a clean break if I decide to leave.

[faraday]

36 minutes ago, wgdanson said:

I can THINK about opening the Thai version of Playboy Mansion, so does your statement means that I AM fit to do it?

Danson Mansion - wall to wall pπssy!

 

????

 

 

[perconrad]

1 hour ago, Denim said:

 

Same here. Can't get fully comp for cars over 10 years old.

Ours is a 2003 Vios. Cheap as chips.

I have A 1 insurance on my 2006 Fortuner, cost thb 10.000 pr year

 

[ChipButty]

1 hour ago, wgdanson said:

How much is your road tax, mine is over 5000 for a Vigo, and 13000 1st class insurance.

So if you have a bump, bye bye car, yes?

18,000 Baht 

[Percy P]

Yes expats are cutting down on what they buy  ,but it you are a UK person your spending twice as much for the same item as you were 10 years ago and the item haven't changed much. 10 years ago I got 78Bhat/£ now 37.4B/£. The Thai people are getting less income.It's got to work against the people's interest for the the Baht to be high but you can't fudge the exchange rate.

Edited August 11, 2019 by Percy P

[TSF]

1 hour ago, FritsSikkink said:

That you can't think about what sort of business to do means you are not fit to do business to start with.

Well as you're so smart how about giving some suggestions for staring a business that a foreigner retired on a pension can afford to set up and can legally do in Thailand?