Can you ride out the pandemic?

[Lacessit]

I'm estimating I need at least a year's expenses in ready cash to cover contingencies arising from the coronavirus pandemic. Either that, or stuff I can convert to cash with the click of a mouse.

I'm saving about 20,000 baht a month on expenses in the current partially locked-down environment. Against that, I'm thinking the cost of air travel and complying with various regulations will probably skyrocket.

How are your plans for coping with the present situation working?

[daveAustin]

Always good idea to have 'rainy day' money and plan B options. Don't reckon air prices really will jump to that extent as it'd screw them further. Travelling will just be less busy, more awkward and a bit more expensive...              or not.  

[brokenbone]

i wot be needing anything to cover potential/imaginary contingencies arising from the coronavirus pandemic,

there is none for me, i cant travel, i will continue to receive my pension

and eat until i finally die

Edited May 13, 2020 by brokenbone

[scubascuba3]

You need plenty of cash available for the next year or two. Stock markets are down, not a good time selling investments or taking drawdown pensions.

 

Spending is definitely lower

[RichardColeman]

As I am currently trapped outside of Thailand and having to pay my own rent here in the uk and support the wife and kid there, I am just about standing still by cutting back. 

[ezzra]

Too early to tell really what riding the tali of the this pandemic will entrails in costs and inconveniences as every new day bring new things and "new normal" to ponder and deal with...

[Roy Baht]

Before COVID came I was already thinking that the stock market would crash before the end of this year so, when the market was hitting record highs, I was already cashing out in preparation for a year or two of recession.  From that point of view I couldn't have timed it better. Only thing I'm hoping for now is the USD to strengthen a bit against the THB.

[Puchaiyank]

If she will continue to participate, I can ride out the pandemic...

 

The question is:  with so few customers, can she ride out the pandemic?

[BritManToo]

1 hour ago, Lacessit said:

Against that, I'm thinking the cost of air travel and complying with various regulations will probably skyrocket.

I can always get the bus to Siem Reap, Suvannakhet, Mae Sai.

Hasn't really affected my expenses, I don't go out much to places that cost money., hiking and cycling is free.

[AlexRich]

I’m on an island in the eastern Mediterranean, in lockdown like everyone else. I’m spending much less than usual and I budget twelve months in advance, with contingency, so I’m okay to ride this out. I feel bad for people who own businesses and those that have jobs that are vulnerable ... we are heading for a very difficult year or two. 

[thaibeachlovers]

Being retired and on pension, it hasn't changed my life in any way significantly.

However, it was annoying not being able to do anything that required me buying something not in a supermarket.

Shops are open now, so hopefully we don't go back into lockdown if there are a couple of new cases.

[Rhys]

..all is well going for my "foot" massage.

 

[ukrules]

Sure, no problem.

 

 

 

[CharlieH]

Absolutely no difference to me. Everything is the same as its always been. 

Daily routine is the same. Food easily available. Dont see any catastrophe on the horizon, same old same old.

 

[Lacessit]

2 hours ago, brokenbone said:

i wot be needing anything to cover potential/imaginary contingencies arising from the coronavirus pandemic,

there is none for me, i cant travel, i will continue to receive my pension

and eat until i finally die

Not a cheerful prospect, perhaps arguing on TV is one of your few forms of recreation. I wish you well.

[Lacessit]

22 minutes ago, CharlieH said:

Absolutely no difference to me. Everything is the same as its always been. 

Daily routine is the same. Food easily available. Dont see any catastrophe on the horizon, same old same old.

 

Do you have dentures? I'm waiting for the other shoe to drop with lost fillings.

[CharlieH]

11 minutes ago, Lacessit said:

Do you have dentures? I'm waiting for the other shoe to drop with lost fillings.

Have no idea what any of that means.

[Lacessit]

1 minute ago, CharlieH said:

Have no idea what any of that means.

Dental clinics are closed. With lost fillings, either I make it through to when they re-open, or am carried into a hospital screaming in pain when abscesses form. Just a personal problem in riding out the lockdown.

[UbonThani]

it's 50% over

 

[Mama Noodle]

Pure luck that the virus hit and lockdowns happened when they did. I was working overseas and traveling back and forth to and from Thailand every couple months, saving for a move back to the USA in early 2021. 

Wrapped up a project and made it to Thailand in March without even paying attention to the Virus, then BOOM everything closed up around me and I got marooned here. 

 

Our house, Truck, and motorbike are all paid for and I have zero debt anywhere, so my savings will last a few years, and if I need to I have several lines of credit I can take plus take loans out against the Thai house and car if needed. I can easily make it to vaccine time (if possible) and get on a plane and get back to work without having to use any lines of credit, but oil prices and economic recovery will need to rise before thats possible too. 

 

It sucks, and its boring, and its depressing that I have to dip into my savings to live, but on the other hand im lucky that I can stay out of work for 4-5 years if absolutely needed - excluding any car accidents or medical emergencies. 

[Mama Noodle]

9 minutes ago, Lacessit said:

Dental clinics are closed. With lost fillings, either I make it through to when they re-open, or am carried into a hospital screaming in pain when abscesses form. Just a personal problem in riding out the lockdown.

 

You ought to be able to go to the hospital dentists. Private hospital in my province has an open dentist. 

[ChipButty]

All good it's amazing how much you can save buying beer from makro less than half, cooking at home which is better just show how much you wasted, not going anywhere so saves on gasoline with 2 cars and a motorbike 

If all else fails I still have my Bitcoin 

[tonray]

I'm saving about 12,500 baht per month on daily expenses...grocery shopping once a week...but staying at home all day has shown me how truly inadequate the house is for true comfort....so spending those savings and more on improvements to make it more comfortable.

 

Extension of privacy wall in back so I don't have to see family cooking outside and they keep their door wide open and have no curtains. 10K baht

 

Sun/Rain Polycarbonate awning for back patio area to prevent the rain from washing away the patio underlayment and provide shade

15K baht

 

Garden Materials....to beautify the yard area: Pots/Plants/etc: 5K baht

 

Home office / ManCave area: to have a place for my guitar gear/and a relaxing place to go downstairs when GF is watching her absurd Thai videos on the TV: 20K baht

 

Savings for 2 months lockdown: $25,000 baht

Improvements for livability:       $50,000 baht

 

Eeek....I'm down $25,000 baht...

 

 

 

 

 

 

[ThailandRyan]

2 hours ago, scubascuba3 said:

You need plenty of cash available for the next year or two. Stock markets are down, not a good time selling investments or taking drawdown pensions.

 

Spending is definitely lower

For some reason my 401K, which took a hit back in March when this hit hard, and was down considerably, is now back up and over where it was before the downturn.  I am kind of shocked actually to have it in the situation it is.  Was thinking of moving it into safer options like a money market account but then who the F knows...

[Mama Noodle]

1 minute ago, ThailandRyan said:

For some reason my 401K, which took a hit back in March when this hit hard, and was down considerably, is now back up and over where it was before the downturn.  I am kind of shocked actually to have it in the situation it is.  Was thinking of moving it into safer options like a money market account but then who the F knows...

 

Thats because the markets are no longer spooked and indicative of a quick economic recovery if people can start to move around and work. Its an excellent sign of confidence in the economy. 

 

I haven't moved anything with mine, im still kinda young and not even close to taking any benefit, so ill ride it out. 

[Lacessit]

21 minutes ago, Mama Noodle said:

 

You ought to be able to go to the hospital dentists. Private hospital in my province has an open dentist. 

Was told at the hospital to come back when restrictions were lifted. Perhaps another example of varying regulation across provinces, but did you actually confirm your open dentist is open?

[Yinn]

2 hours ago, scubascuba3 said:

You need plenty of cash available for the next year or two. Stock markets are down, not a good time selling investments or taking drawdown pensions.

 

Spending is definitely lower

Cash is big power now.

 

Thai money lender now have to many customer. Not enough money.

 

Before covid, normal rate 2% per month if have chanote, 3% short loan. (1-2 month).

Also problem with land office to prepare paperwork. Because the covid. And the court closed for covid same.

 

Some loan is now 4-5% per month. Many business need cash. 

Can not pay the rent, the land/building owner will take the business.

 

people borrow money before the covid now can not pay= loose the land/chanote. Some nor sor 3 land same.

(nobody lend for nor sor3 now, must be chanote nor sor 4)

 

i think 1st next month will be more problem. And more again July 1. 

[Mama Noodle]

Just now, Lacessit said:

Was told at the hospital to come back when restrictions were lifted. Perhaps another example of varying regulation across provinces, but did you actually confirm your open dentist is open?

 

Private or Government? Mine was private and yes they are open but appointments required. I have a cavity in a back molar I need fixed but Im hoping restrictions lift and I can travel to BKK and get it fixed there. 

[Yinn]

1 minute ago, Lacessit said:

Was told at the hospital to come back when restrictions were lifted. Perhaps another example of varying regulation across provinces, but did you actually confirm your open dentist is open?

Is up to the dentist. Some open, some close. Some emergency only.

[Mama Noodle]

2 minutes ago, Yinn said:

Cash is big power now.

 

Thai money lender now have to many customer. Not enough money.

 

Before covid, normal rate 2% per month if have chanote, 3% short loan. (1-2 month).

Also problem with land office to prepare paperwork. Because the covid. And the court closed for covid same.

 

Some loan is now 4-5% per month. Many business need cash. 

Can not pay the rent, the land/building owner will take the business.

 

people borrow money before the covid now can not pay= loose the land/chanote. Some nor sor 3 land same.

(nobody lend for nor sor3 now, must be chanote nor sor 4)

 

i think 1st next month will be more problem. And more again July 1. 

 

Of course its going to be a massive problem its going to be worse and worse. As the Tourism sector has been obliterated, every person relying on it will likely be ruined. Thats millions of people ruined for what amounts to 50-something deaths due to covid.