Popular Post Elizway Posted December 21, 2019 Popular Post Share Posted December 21, 2019 I don't think it exists from my observation not only here in Thailand but almost all other SEAsian countries. People buy things way more than what they can afford. And most of these things are perishable. I mean, you don't need to be drinking a Frappuccino everyday when you're making a measly $200 a month. Anyone else notice, or is it just me? 2 1 Link to comment Share on other sites More sharing options...
Popular Post CharlieH Posted December 21, 2019 Popular Post Share Posted December 21, 2019 Simple philosophy, you may not be here next week. Enjoy while you can. Not saying I agree, but that's how the many seem to be, in my experience. 15 2 Link to comment Share on other sites More sharing options...
Popular Post thequietman Posted December 21, 2019 Popular Post Share Posted December 21, 2019 If i'm honest, I kinda envy them in a way. They buy for the now and I honestly wish I had a little bit of that thinking. There are a few things that I would like to treat myself and the wife to, but I hold back due to the 'rainy day' thinking. Maybe, for the new year resolution, I will take a little bit more risk and live for the now a little bit. ???? 17 1 Link to comment Share on other sites More sharing options...
Popular Post blackcab Posted December 21, 2019 Popular Post Share Posted December 21, 2019 The other point of view being if you were earning 200 dollars a month then something like a frappaccino might just make your life bearable. I do see where you are coming from though. 6 1 2 Link to comment Share on other sites More sharing options...
Popular Post bkk6060 Posted December 21, 2019 Popular Post Share Posted December 21, 2019 No education in Thailand on this topic. The issue is they end up old and in poverty. Social security here is 500 b a month. And, this is mostly why the children end up providing financial assistance and taking care of their parents. Just a revolving door at this point. 3 2 Link to comment Share on other sites More sharing options...
Popular Post FritsSikkink Posted December 21, 2019 Popular Post Share Posted December 21, 2019 (edited) 1 hour ago, bkk6060 said: No education in Thailand on this topic. The issue is they end up old and in poverty. Social security here is 500 b a month. And, this is mostly why the children end up providing financial assistance and taking care of their parents. Just a revolving door at this point. Not true, that is why people wants to own a house (and land if possible) and use this for a rainy day. Quite a few expats are happy to do this for a bargirl and think they have their love of their live. Edited December 21, 2019 by FritsSikkink 2 1 2 Link to comment Share on other sites More sharing options...
Popular Post OneMoreFarang Posted December 22, 2019 Popular Post Share Posted December 22, 2019 I guess it also depend on how bad that possible "rainy day" can get. If a "rich" person loses his income and the mortgage can't be paid anymore and the house and the car is soon gone then "everything" is gone. If a poor person has no income anymore but a few relatives then maybe he has to eat rice and fish for some time and maybe sleep hard - not a huge difference to the previous life. In comparison the poor person does not really lose so much. 8 Link to comment Share on other sites More sharing options...
thaibeachlovers Posted December 22, 2019 Share Posted December 22, 2019 11 hours ago, Elizway said: I don't think it exists from my observation not only here in Thailand Do you forget that Thais believe that they shall be reborn? Ergo, whatever they do in this life is just another go around on the great wheel. In the west, everyone seems to be living on credit. Is that a better way to live? 2 Link to comment Share on other sites More sharing options...
Popular Post Denim Posted December 22, 2019 Popular Post Share Posted December 22, 2019 If you saved for a rainy day in the UK your savings would never amount to much. Better to save for a glorious hot and sunny day. That way you might save up a decent amount. 1 2 Link to comment Share on other sites More sharing options...
thaibeachlovers Posted December 22, 2019 Share Posted December 22, 2019 2 minutes ago, Denim said: If you saved for a rainy day in the UK your savings would never amount to much. Better to save for a glorious hot and sunny day. That way you might save up a decent amount. I used to think that I should save, but then I realised that had I saved the $18 a week I earned back in 1967 it wouldn't buy much now. 1 Link to comment Share on other sites More sharing options...
Popular Post RichardColeman Posted December 22, 2019 Popular Post Share Posted December 22, 2019 You know that 800,000 didn't arrive by magic in your bank account ! Most of us - probably all - would not be here if we had not planned. Most Thais on the other hand think their families will always take care of them and the bank is an endless stream of porn shops to buy stuff and then return to. That said, my wife is great at budgeting to save money - you give her 500 baht, she'll come back with enough food for a week and put the change in the pot for a rainy day. She worked as a school teacher, saved money, bought land and built a house, planned ahead. So, yes, some plan ahead, probably the same number as believe in Corbyn's magic money tree 5 Link to comment Share on other sites More sharing options...
alex8912 Posted December 22, 2019 Share Posted December 22, 2019 (edited) 14 hours ago, thequietman said: If i'm honest, I kinda envy them in a way. They buy for the now and I honestly wish I had a little bit of that thinking. There are a few things that I would like to treat myself and the wife to, but I hold back due to the 'rainy day' thinking. Maybe, for the new year resolution, I will take a little bit more risk and live for the now a little bit. ???? The first time it pours rain in 2020 you should grab the wife and and go crazy! Then it shows her you saved for a rainy day and will probably make you happy as well. I mean grab her and spend some money taking her out not other naughty things! Edited December 22, 2019 by alex8912 1 Link to comment Share on other sites More sharing options...
Popular Post TallGuyJohninBKK Posted December 22, 2019 Popular Post Share Posted December 22, 2019 2 hours ago, RichardColeman said: the bank is an endless stream of porn shops Wow..... I guess I need to start spending some more time at my local bank branch. Obviously I've been missing something!!! 1 4 Link to comment Share on other sites More sharing options...
justin case Posted December 22, 2019 Share Posted December 22, 2019 spend today, you might be dead tomorrow 1 Link to comment Share on other sites More sharing options...
Curt1591 Posted December 22, 2019 Share Posted December 22, 2019 My mother-in-law has millions squirreled away. Don't have to worry about her sick buffalo! 1 Link to comment Share on other sites More sharing options...
worgeordie Posted December 22, 2019 Share Posted December 22, 2019 The most likely view is the interest rates are so low,no incentive to save,the Government wants to do everything for people in debt, and it's a "I want it ,I want it now" society,never mind i cannot afford it.and not just Thailand. regards worgeordie 1 Link to comment Share on other sites More sharing options...
Enoon Posted December 22, 2019 Share Posted December 22, 2019 1 hour ago, justin case said: spend today, you might be dead tomorrow But more likely, if you were a US citizen born in 1955, that you "might be alive".........on consecutive "tomorrows" since then. As of 2017, 85.5% of those people were still alive. "Coarse" extrapolation from these stats giving 82.2% still alive today and 79.5% in 2 years time: https://247wallst.com/special-report/2017/06/01/how-many-people-are-left-from-the-year-you-were-born- Living too long is the prospect for most Westerners, not a life cut "tragically short"........tomorrow. 1 1 Link to comment Share on other sites More sharing options...
Popular Post SteveK Posted December 22, 2019 Popular Post Share Posted December 22, 2019 That's one of the things I first noticed about the Thais when I came here many years ago. Most don't seem to think past the end of the day. Obviously in the West we plan everything. I believe the theory is that because of the seasons in Europe, people were forced to store food for the winter, and figure out whether they had enough to last it out. that forced people to build granaries and think about how to preserve foods. Whereas in Thailand, food grows everyday of the year, no need to plan or think about anything too much. 5 1 Link to comment Share on other sites More sharing options...
Beggar Posted December 22, 2019 Share Posted December 22, 2019 Look at the EU and the Euro. We were always told to save. With negative interest rates what sense does it make to save? Today you get punished if you bring money to a bank if they still accept it at all. Perhaps the Thais are more clever. Time will tell. 1 Link to comment Share on other sites More sharing options...
Popular Post spidermike007 Posted December 22, 2019 Popular Post Share Posted December 22, 2019 When I was younger I had incredible opportunities to take advantage of great investments and had the means to do so. Most of the time I lacked the vision and courage and was enjoying the moment too much to make the sacrifice. Some of my friends at the time did and are wealthy now as a result. A dear friend wanted to be my financial mentor. He was a wiz. I just would not listen. He is retired and quite wealthy now. It requires a degree of wisdom, vision and sacrifice. Some have it. Some don't. 5 2 Link to comment Share on other sites More sharing options...
Thomas J Posted December 22, 2019 Share Posted December 22, 2019 Take any interest rate and divide it into 72 and it will tell you the number of years it will take for your money to double. 6% equals 12 years 8% equals 9 years. The earlier in life you put money away the more times it will double. That final doubling is the most important since it doubles with the most amount of money. 1 1 Link to comment Share on other sites More sharing options...
Brunolem Posted December 22, 2019 Share Posted December 22, 2019 17 minutes ago, Thomas J said: Take any interest rate and divide it into 72 and it will tell you the number of years it will take for your money to double. 6% equals 12 years 8% equals 9 years. The earlier in life you put money away the more times it will double. That final doubling is the most important since it doubles with the most amount of money. And what about - 0.5% ??? 1 Link to comment Share on other sites More sharing options...
Brunolem Posted December 22, 2019 Share Posted December 22, 2019 1 hour ago, worgeordie said: and it's a "I want it ,I want it now" society,never mind i cannot afford it.and not just Thailand. regards worgeordie Or you can say: People buy things they don't need with money they don't have. The whole purpose of the system...because it is a (worldwide and not only Thai) system...is to create a new form of feudalism, in which the masses are debt chained to the banks, owned by the few super wealthy, rather than being chained to the land owned by the nobility. Same, but not same, but same... Of course, when the mountain of debt...a house of cards in fact...comes crashing down, there will quite a few rainy days, years in fact, and savings will suddenly matter. See The Grasshopper and the Ant... Link to comment Share on other sites More sharing options...
Jaxxper Posted December 22, 2019 Share Posted December 22, 2019 Look how many new cars/pickups there are on the road. Somewhere between Thb 600 k and Thb 1,000 k. I would guess mostly on credit. Definitely live for today and worry about tomorrow the day after tomorrow. 2 Link to comment Share on other sites More sharing options...
Phulublub Posted December 22, 2019 Share Posted December 22, 2019 19 hours ago, Elizway said: I don't think it exists from my observation not only here in Thailand but almost all other SEAsian countries. People buy things way more than what they can afford. And most of these things are perishable. I mean, you don't need to be drinking a Frappuccino everyday when you're making a measly $200 a month. And in what way is this different to the majority in the West? I realy wish posters here would take a look at their own country, and people, and perhaps have a think how things were just ten or twenty years ago before wantonly bashing Thais. PH 2 Link to comment Share on other sites More sharing options...
SoonOh Posted December 22, 2019 Share Posted December 22, 2019 Why safe? There is plenty farangs dreaming about happy life in land of smile. Link to comment Share on other sites More sharing options...
VBF Posted December 22, 2019 Share Posted December 22, 2019 4 hours ago, justin case said: spend today, you might be dead tomorrow Bit but....... Oh and this is the original, by the way! 1 Link to comment Share on other sites More sharing options...
The Theory Posted December 22, 2019 Share Posted December 22, 2019 (edited) The fact it my savings is holding my pants up since I still have about 10 years to reach SS. No luxury kind of life, no party, no drinking every night, but I imagine what it could look like with no savings ????. No savings ???? = no extension, no Thailand. New year is coming, party time ???????????? Edited December 22, 2019 by The Theory 1 Link to comment Share on other sites More sharing options...
Stevemercer Posted December 22, 2019 Share Posted December 22, 2019 9 hours ago, OneMoreFarang said: I guess it also depend on how bad that possible "rainy day" can get. If a "rich" person loses his income and the mortgage can't be paid anymore and the house and the car is soon gone then "everything" is gone. If a poor person has no income anymore but a few relatives then maybe he has to eat rice and fish for some time and maybe sleep hard - not a huge difference to the previous life. In comparison the poor person does not really lose so much. And that is why the wealthy want to keep Thailand just the way it is! Link to comment Share on other sites More sharing options...
scubascuba3 Posted December 22, 2019 Share Posted December 22, 2019 (edited) i find it disturbing that even though they may have no money they will porn their gold to give to a "friend" or family member. Any money they get is spaffed up the wall. If someone set up FREE classes for money management, no one would turn up Edited December 22, 2019 by scubascuba3 Link to comment Share on other sites More sharing options...
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