Survey Shows Thai People Using Savings during COVID-19 Pandemic

[snoop1130]

 

BANGKOK (NNT) - A Suan Dusit University opinion poll has found that Thai people are dipping into their savings, while their expenses have increased during the COVID-19 pandemic.

 

According to the poll on “The expenditure of Thai people in the era of the COVID-19 crisis”, taken between August 16th and 19th, 40.22% of respondents reported an increase in expenses, 83.57% used their salary to pay their expenses and 42.63% had to use some of their savings.

 

Regarding what the government should do to help them cover expenses, with respondents allowed to choose more than one answer, 86.41% wanted authorities to lower water, electricity, internet and fuel prices, 76.86% to lower the cost of living and control commodity prices, 71.64% to provide equal compensation to all, 61.85% to enact a debt moratorium and interest rate reduction and 51.82% to make low-priced goods available in some areas.

 

Meanwhile, the poll respondents urged the government to solve the issues, as some people will only be able to support themselves for another three months.

 

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-- © Copyright NNT 2021-08-23

 

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[hotchilli]

13 hours ago, snoop1130 said:

A Suan Dusit University opinion poll has found that Thai people are dipping into their savings, while their expenses have increased during the COVID-19 pandemic

They needed a survey to find that out?

[Aussieroaming]

I can only imagine how many default loans there must be within the banking and financial sector due to customers financial stress. I wonder how long before that starts to impact the on the liquidity of some financial institutions. 

 

 

[Caldera]

I don't get why their expenses have increased. If they had said that their income has decreased, I'd understand the need to dip into savings or to go (deeper) into debt, but increased expenses?

 

What exactly are people spending that extra money for? Living in Bangkok, I currently couldn't spend more even if I tried, as there's sweet nothing to do!

[Scott Tracy]

Another 'No <deleted> Sherlock' moment. 

[TheAppletons]

50 minutes ago, Caldera said:

I don't get why their expenses have increased. If they had said that their income has decreased, I'd understand the need to dip into savings or to go (deeper) into debt, but increased expenses?

 

What exactly are people spending that extra money for? Living in Bangkok, I currently couldn't spend more even if I tried, as there's sweet nothing to do!

  Gee, let's think.  Health care?  Check.  Helping friends and relatives who have no savings?  Check.  Ordering food for delivery?  Check.  Shall we continue?

[alien365]

1 hour ago, Caldera said:

I don't get why their expenses have increased. 

Our monthly food bill has pretty much doubled as we no longer shop at the local market. Currently I've spent 14k on food this month, alcohol excluded. 

[Gsxrnz]

As half the population have little more than a pot to p*** in, or if they do, a window to empty it from, I'm a bit skeptical that 42%  managed to fall back on their "savings". Unless the money borrowed from the local loan shark counts as savings.

 

Whoops, 42.SIX THREE percent - love those decimal places but no brownie points for accuracy.

[TheAppletons]

8 minutes ago, Gsxrnz said:

As half the population have little more than a pot to p*** in, or if they do, a window to empty it from, I'm a bit skeptical that 42%  managed to fall back on their "savings". Unless the money borrowed from the local loan shark counts as savings.

 

Whoops, 42.SIX THREE percent - love those decimal places but no brownie points for accuracy.

  Brownie points awarded to you, sir.  Each brownie point is worth .001 satang.

Edited August 24, 2021 by TheAppletons

[Rampant Rabbit]

1 hour ago, hotchilli said:

They needed a survey to find that out?

total  BS  MOST  have absolutely NO savings whatsoever according to a  survey done and shown in TV a  few  months  back

[Neeranam]

14 minutes ago, Gsxrnz said:

As half the population have little more than a pot to p*** in, or if they do, a window to empty it from, I'm a bit skeptical that 42%  managed to fall back on their "savings". Unless the money borrowed from the local loan shark counts as savings.

 

Whoops, 42.SIX THREE percent - love those decimal places but no brownie points for accuracy.

Could say this of any country. 

[Sydebolle]

"Survey Shows Thai People Using Savings during COVID-19 Pandemic"

Survey will also show (one day), that Thai people WITHOUT savings will use the savings of those who had savings.

Petty crime will explode and the bigger pictures are around the corner. The writing is on the wall! 

[Nanaplaza666]

OMFG , people certainly know what university not to send their children to if they want them to really learn something and not just be thaught the obvious . 

[Stargeezr]

What some posters on this forum forget that they can sit around every day doing diddly, and live on their

pensions, but have to wonder why the Thai people who do not have the same amount of money are using their savings?

  I have to wonder just how stupid or maybe I should be polite and say ignorant are these posters?

    It makes me sad that any expat or foreigner forgets that this is Thailand, a third world country that we

are talking about.  Wake up, people..

Geezer

[Bruno123]

22 minutes ago, Stargrazer9889 said:

What some posters on this forum forget that they can sit around every day doing diddly, and live on their

pensions, but have to wonder why the Thai people who do not have the same amount of money are using their savings?

  I have to wonder just how stupid or maybe I should be polite and say ignorant are these posters?

    It makes me sad that any expat or foreigner forgets that this is Thailand, a third world country that we

are talking about.  Wake up, people..

Geezer

Where I feed the dogs, I met some people who are sleeping in a wooden shelter, who claim they came to the area looking for work; father and son. Father; a painter and cook, son; a barista. Son said he had a total of 400 baht in his room(wherever that is).

 

Dad said he was down to 2 baht. Government money hadn't turned up. Begged me to help find them work.

[Rampant Rabbit]

1 hour ago, Stargrazer9889 said:

What some posters on this forum forget that they can sit around every day doing diddly, and live on their

pensions, but have to wonder why the Thai people who do not have the same amount of money are using their savings?

  I have to wonder just how stupid or maybe I should be polite and say ignorant are these posters?

    It makes me sad that any expat or foreigner forgets that this is Thailand, a third world country that we

are talking about.  Wake up, people..

Geezer

you  might be surprised to  know  some of those foreigners  worked  12-13hour  days and saved that money for 25+  years starting in their mid  teens ie14-15 and then retiring in their mid 40's then re investing their savings in something sensible to get an income. Even my  wife  with her  lowly  job managed to save over 200k (took her 8 years at 29yrs  old) before I met her, most dont have the sense or  will  power to do this and thats  where they go wrong, then whine  theyre  "poor"

Edited August 24, 2021 by Rampant Rabbit

[Rampant Rabbit]

1 hour ago, Bruno123 said:

Where I feed the dogs, I met some people who are sleeping in a wooden shelter, who claim they came to the area looking for work; father and son. Father; a painter and cook, son; a barista. Son said he had a total of 400 baht in his room(wherever that is).

 

Dad said he was down to 2 baht. Government money hadn't turned up. Begged me to help find them work.

met these  type  before, many are  unemployable and as  soon as  your  back is  turned they are  sitting  down on the  job, tell you what if  he wants a  weeks  work I  got 500 a  day weeding  and leaf  cutting.......watch him run.....the  opposite  way. seen it way too many times.

[Bruno123]

6 minutes ago, Rampant Rabbit said:

met these  type  before, many are  unemployable and as  soon as  your  back is  turned they are  sitting  down on the  job, tell you what if  he wants a  weeks  work I  got 500 a  day weeding  and leaf  cutting.......watch him run.....the  opposite  way. seen it way too many times.

I would send them your way; but I think Uranus is a bit too far from Chonburi. ???? 

[BKKTRAVELER]

I was curious about expenses increasing as well. But the points mentioned above do actually make sense.

 

It is most likely for people who are well to do that expenses lowered (no activities, going out, vacations and more). But it probably doesn't concern a high % of the whole population.

 

For my GF and I, our expenses dropped quite a bit but she does give (a lot) more of her incomes to some family relatives who have been suffering a lot during Covid. So, it balances it out, but for a good cause.

[dinsdale]

7 hours ago, Caldera said:

I don't get why their expenses have increased. If they had said that their income has decreased, I'd understand the need to dip into savings or to go (deeper) into debt, but increased expenses?

 

What exactly are people spending that extra money for? Living in Bangkok, I currently couldn't spend more even if I tried, as there's sweet nothing to do!

Let's just think about that for a minute. If you are working from home maybe using more electricity? Kids are home so have to feed them? Guess if your wages are low this will cut in to what you have. 

[natway09]

14K a month on food alone ? You got expensive tastes, 12 kids  or feeding the village maybe ?

People writing this must be hard up for something to do 

[EricTh]

It's really sad. One of the Thai even tried to commit suicide in front of the government because she was eating one pack of Mama for 3 meals.