My Um, Detailed Chiangmai Budget

[vrsushi]

In an attempt to plan as much as is umanly possible I have literally thought about my spending down to the last beer. So here goes. If anybody would like to point out any miscalculation on my part I'd be ever so grats. All figures are monthly.

2 bedroom house or 1 bedroom apt. 7k or buy for 2m bht

Vegertarian diet with fruit everyday and fresh veg. 6k Cooking at home, very little processed food.

Bills: water 200bht, gas 300bht, electricity 1000bht (fan most of the time, ac in hot season) ADSL 700bht, cable tv(only premier league matters)300bht, tel 200bht = 2700bht......lets say 3k

Scooter. 500bht for gas. 500bht for repairs and eventual replacement. 1k

Health. 500bht. Self insured really. But I almost never get ill.

Things for house 2k, clothes 1k, electronics 1k, books 1k........not into stuff at all. Hard to average out this as a monthly, but this is my best shot. = 5k

Entertainment. I usually drink 3 large beers twice a week. 300bht x2. Bowling daytime 200bht x2. Sports...50bht x4 Hiking 200bht 5/6 beers at home 200bht = 7k

Partner. Dinner out once a week. 1000bht Cinema and cheap meal 600bht = 7k

Travel. Once a year a month traveling with my friend. 20 quid a day backpacking. But minus the costs that I wont be incurring at home, plus a cheap flight or two....lets say 3k a month.

TOTAL 40k a month

Now, by now of course I look a bit anal, but at least........no there is no excuse. But as long as I havent short changed myself anywhere it seems that this 40k will provide me with quite a nice life.

I love reading, nature, exercising, music, chatting with friends. So with the above I really believe that I would have enough of what is needed to live my version at least of the good life.

But have I overlooked anything?

Edited February 9, 2008 by vrsushi

[CobraSnakeNecktie]

In an attempt to plan as much as is umanly possible I have literally thought about my spending down to the last beer. So here goes. If anybody would like to point out any miscalculation on my part I'd be ever so grats. All figures are monthly.

TOTAL 40k a month

Now, by now of course I look a bit anal, but at least........no there is no excuse. But as long as I havent short changed myself anywhere it seems that this 40k will provide me with quite a nice life.

I love reading, nature, exercising, music, chatting with friends. So with the above I really believe that I would have enough of what is needed to live my version at least of the good life.

But have I overlooked anything?

I think your first concern is how are going to escape from the crazy farm before moving to Thailand.

Edited February 9, 2008 by CobraSnakeNecktie

[Ricardo]

2 bedroom house or 1 bedroom apt. 7k or buy for 2m bht

Own property will require maintenance, repainting, etc.

Vegertarian diet with fruit everyday and fresh veg. 6k Cooking at home, very little processed food.

Bills: water 200bht, gas 300bht, electricity 1000bht (fan most of the time, ac in hot season) ADSL 700bht, cable tv(only premier league matters)300bht, tel 200bht = 2700bht......lets say 3k

telephone-bill looks too tight, unless everyone you know uses Skype, and there may still be a minimum-deposit to the BKK-Bank a/c for TOT to direct-debit out-of.

A cylinder of gas @ 270-300B will last 2-3 months IMO. Watch premier-league at the pub ?

Perhaps add 100-150 B/month for filtered/bottled drinking-water, also your electricity might be low, for aircon or a rented-condo, where they often charge a higher price-per-unit.

Scooter. 500bht for gas. 500bht for repairs and eventual replacement. 1k

Tax & Insurance ? Or get a bicycle ! Which still costs a little bit to run.

Health. 500bht. Self insured really. But I almost never get ill.

Don't forget the dentist !

Things for house 2k, clothes 1k, electronics 1k, books 1k........not into stuff at all. Hard to average out this as a monthly, but this is my best shot. = 5k

Entertainment. I usually drink 3 large beers twice a week. 300bht x2. Bowling daytime 200bht x2. Sports...50bht x4 Hiking 200bht 5/6 beers at home 200bht = 7k

Bowling 100B for 3 games, plus shoe-rental 30B, if you don't have your own.

Partner. Dinner out once a week. 1000bht Cinema and cheap meal 600bht = 7k

Travel. Once a year a month traveling with my friend. 20 quid a day backpacking. But minus the costs that I wont be incurring at home, plus a cheap flight or two....lets say 3k a month.

TOTAL 40k a month

No budget for assisting sick water-buffaloes ?

Also allow for Visa-costs, depending on what route you're planning to go down, and 10-yearly renewal of (UK) passport currently costs approx 140 quid, at the CM British consulate (very nice helpful staff !).

Welcome to Chiang Mai !

[lannarebirth]

I would add a zero to your "Health" line item. Many months you won't have any expense at all, but anything other than the slightest of ailments will wipe out a years budget.

[cmsally]

Don't forget if you're earning in non Baht currency to figure in exchange fluctuations.

I can lend you a couple of children who would really alter the numbers on that phone bill

[vrsushi]

Thanks for the replies so far.

Some good points.

So how much would insurance and tax for a 50cc scooter cost?

Hmmm maintenance on a condo. I have no idea what to budget for that? (on a 2mill bht 70m2 apt)

Dentist. Got good teeth so far. Again what to budget?

Good point re visa run. How much to run up to the border and back?

Edited February 9, 2008 by vrsushi

[ArtfulD]

My father has been in great health for 66 years, spent 1 night in hospital when he was 9 to have his appendix out, two weeks ago had a minor stroke and bamn, 87 000 baht in 3 days for tests, medication and general treatment....

How long is this budget too last, how do you figure to handle inflation?

[Rasseru]

In an attempt to plan as much as is umanly possible I have literally thought about my spending down to the last beer. So here goes. If anybody would like to point out any miscalculation on my part I'd be ever so grats. All figures are monthly.

2 bedroom house or 1 bedroom apt. 7k or buy for 2m bht

. . . . .

Things for house 2k, clothes 1k, electronics 1k, books 1k........not into stuff at all. Hard to average out this as a monthly, but this is my best shot. = 5k

. . . . .

Partner. Dinner out once a week. 1000bht Cinema and cheap meal 600bht = 7k

. . . . .

I love reading, nature, exercising, music, chatting with friends. So with the above I really believe that I would have enough of what is needed to live my version at least of the good life.

But have I overlooked anything?

I commend you for trying to plan in advance.

I think your budget for a place to live may be higher than necessary. But of course it depends on how nice a place you want to live in, and where.

Also, your "things for house" etc. budget may be higher than you need to be happy, but hey, that too of course all depends. If that budget will do you well where you are now, though, my guess is it will be quite fine here.

Dinner out once a week at 1000 baht for two should do you quite nicely, including a bottle of plonk or even something a bit better.

Have you budgeted for your visa costs?

Finally, recommend that you look into getting health insurance. Blowing a hole in a budget is always a problem, but the more so the tighter the budget.

[Naam]

Health. 500bht. Self insured really. But I almost never get ill.

But have I overlooked anything?

you did. besides that i find your approach to budget your expenses extremely wise.

[Naam]

I think your first concern is how are going to escape from the crazy farm before moving to Thailand.

a strange advice from somebody with the assumed handle of CobraSnakeNecktie

[Macx]

It sounds fine to me. I have several friends who are sports/outdoor enthusiasts, and they generally have budgets around your figures. In fact, two guys own their own homes so their monthly budgets are actually under 20k. One of their biggest costs is book buying.

Just be sure to have some "catastrophic funds" set aside for whatever.

[Rasseru]

I think your first concern is how are going to escape from the crazy farm before moving to Thailand.

a strange advice from somebody with the assumed handle of CobraSnakeNecktie

Not at all. To me it sounds like advice that comes from the heart and, quite possibly, experience.

[PeaceBlondie]

Definitely agree about the medical being way too low. 4K per month is more like it; my medicine has cost me that much monthly, at times. And I was a healthy young man when I arrived here 5 years ago!

Added: visa runs can cost up to 80K per year if you have to go around the world to get one. More than that if you fall off the motorbike during a visa run.

[Macx]

Added: visa runs can cost up to 80K per year if you have to go around the world to get one. More than that if you fall off the motorbike during a visa run.

Good points.

Yep, it has cost me a bit in visas. And I've known a few guys who have fallen off bikes or gotten into accidents while doing visa runs. I, myself, nearly got chopped up by a longtail propeller while on a visa run (the guy next to me got sliced pretty bad). Talk about hidden costs of a visa run.

[tigerbeer]

amazing. the Chiang Mai Forum Financial Planning and INvestments THread.

[Ricardo]

After further consideration of the topic, I think that you have to add in some sort of contingency-reserve, at least 10%

And one of the key problems, currently being encountered by many local residents, is the effect of the strong-Baht & weak Dollar/Pound on your future income. It's fine if the Baht weakens, as I had always assumed it was going to, less good when it doesn't ! Fortunately your investments also can out-perform, sometimes.

[thailoneus]

amazing. the Chiang Mai Forum Financial Planning and INvestments THread.Luv Tigerbeer's comment.

Does anyone have the smarts to put this into a spreadsheet?

This is certainly a great thread for me as a newcomer to plan my journey. I am sure many would thank you for starting this Sushi.

[vrsushi]

So far we have

health costs as an issue

visa costs

some of my figures are a bit high, but I have ommitted tax and insurance on the motorbike/scooter and general upkeep if I end up buying a place

but so far so good.

So how much is the cheap visa run from chiangmai?

I will tackle health costs on a new thread in the general section

[Donnyboy]

So far we have

health costs as an issue

visa costs

some of my figures are a bit high, but I have ommitted tax and insurance on the motorbike/scooter and general upkeep if I end up buying a place

but so far so good.

So how much is the cheap visa run from chiangmai?

I will tackle health costs on a new thread in the general section

I think the going rate in a minivan varies between 900- 1500 baht per run. Could be mistaken thou. Myanmar visa is US$10 or 500 baht.

[Donnyboy]

amazing. the Chiang Mai Forum Financial Planning and INvestments THread.

to add to our competent burger/pizza/beer/indian curry/bars/nightspots/ladyboys/coffee/driving threads

I heard the United Nations will be seeking members of TV CM to their council soon

[PeaceBlondie]

If you have millions of baht in reserve, that is a contingency plan. Perhaps some of us are saying that a budget needs to have a fudge factor, a 10 to 20% SWAG factor (silly, wild-arsed guess) for the things you are leaving out, and for inflation, and currency fluctations.

[tigerbeer]

what about drinking and spending too much while being drunk budget? i reckon that can wipe out one's budget for a whole month if not careful.

[meadish_sweetball]

So far we have

health costs as an issue

visa costs

some of my figures are a bit high, but I have ommitted tax and insurance on the motorbike/scooter and general upkeep if I end up buying a place

but so far so good.

So how much is the cheap visa run from chiangmai?

I will tackle health costs on a new thread in the general section

I think the going rate in a minivan varies between 900- 1500 baht per run. Could be mistaken thou. Myanmar visa is US$10 or 500 baht.

The SUPER CHEAP visa run option is to take a local bus with fan back and forth to Mae Sai. I believe the one way fare is 150 baht or at any rate, not over 200 baht at present, so say 400 baht back and forth, plus transport from your doorstep to Arcade bus station and back (say 150-200 baht) - altogether 600 baht. The stated price for a Myanmar visa is as Donnyboy says.

At the moment, you save around 200 baht per run if you make sure you use the dollar option instead of the baht one.

Another option is to car pool with other visa runners and split the costs of petrol.

To live here on constant 30 day stamp visa runs to Mae Sai is no longer an option.

Correct me if I am wrong, but I believe you are allowed a maximum of 3 x 30 day stamps per 6 month period.

----------------------------------

Not getting a health insurance is very unwise, even more so if you are going to ride a motorcycle.

[Austhaied]

amazing. the Chiang Mai Forum Financial Planning and INvestments THread.

to add to our competent burger/pizza/beer/indian curry/bars/nightspots/ladyboys/coffee/driving threads

I heard the United Nations will be seeking members of TV CM to their council soon

[Artamus]

I've been working on a retirement spending buudget plan for some time (and being conservative I never seem to be able to convince myself I have enough!). A few items I have in my busget, not explicitly mentioned by the original poster are:

- intenet access (about 1,500 Bhat/month if you want it at home)

- communications (phone bills and postage - assuming you might maintain some contact overseas)

- insurance on house contents, and maybe travel insurance.

- dentist (assuming not covered under health). Insurance policies usually do not cover dental work

- gifts to friends and families (in thailand, and/or back home, parents birdthdays, wedding aniversaries etc).

- subscriptions to clubs and societies, and also maintenance charges on software if using a PC seriously.

[ZEAK]

Thanks for the replies so far.

Some good points.

So how much would insurance and tax for a 50cc scooter cost?

Hmmm maintenance on a condo. I have no idea what to budget for that? (on a 2mill bht 70m2 apt)

Dentist. Got good teeth so far. Again what to budget?

Good point re visa run. How much to run up to the border and back?

Just got some REALLY good insurance for personal accident, and a plan to cover my condo and contents(including laptop, cell phone, camera)stuff that would go missing fast in the event of a breakin. Total was 7k for both packages, WELL worth it in my opinion. Life insurance up for a million baht was included. PM if you want the details.

[philliphn]

I've been working on a retirement spending buudget plan for some time (and being conservative I never seem to be able to convince myself I have enough!). A few items I have in my busget, not explicitly mentioned by the original poster are:

- intenet access (about 1,500 Bhat/month if you want it at home)

- communications (phone bills and postage - assuming you might maintain some contact overseas)

- insurance on house contents, and maybe travel insurance.

- dentist (assuming not covered under health). Insurance policies usually do not cover dental work

- gifts to friends and families (in thailand, and/or back home, parents birdthdays, wedding aniversaries etc).

- subscriptions to clubs and societies, and also maintenance charges on software if using a PC seriously.

In two years 4 months I will retire in Thailand.

I will at the time of retirement have a pension of approximately about $28.000 USD and Medical. The medical covers me in the USA. I don't think that it will cover me in Thailand.

I have approximately $1.000.000 in assets. $200.000-$245.000 of this is in my house. Which is fully paid for. Why the big range in house value? Try selling a house in the USA and you will probably have the answer.

Most of my assets are very well diversified and professionally managed. Look at what the USA Stock Market has done recently. I could say that in recent times I have lost a considerable sum. Still this is a long term play. I am currently almost 53 years old.

All in all, I have managed to come up altogether with a fair amount of assets. If you consider that I don't actually make a lot of money. If you knew my income, you might be impressed with my actual net worth. I have not spent my money foolishly and have never had any dependents.

I actually have a very hard job. I won't go into the details. But it is working with the worst elements of society for the State.

I count the months until I can retire.

Why do I share all this. If I wasn't so worried about the possible expenses that the future might bring I would have retired a couple of months ago. But that would have meant no pension or medical for life.

I am ranting on. Forgive me.

Edited February 11, 2008 by philliphn

[Ulysses G.]

I actually have a very hard job. I won't go into the details. But it is working with the worst elements of society for the State.

A prison guard?

[Rasseru]

I actually have a very hard job. I won't go into the details. But it is working with the worst elements of society for the State.

A prison guard?

Politician?

[Ulysses G.]

Teacher?