Cost Of Living Question

[steelepulse]

>>Do you include tax in your monthly living expenses if you pay any, thats a new one for me

Having tax taken out of your pay packet doesn't go into your monthly budget/expenses? That's a new one for me. If you don't pay the tax, who does? Being a teacher at an international school would surely mean tax is taken out, therefore on the 95K pre tax income, you're looking at between 9.5K-19K/mo depending on which bracket you fall into. Is that not an expense?

On another note, where do you account for your health, home, and vehicle insurance? Most would not call this a "one of" but rather amortize the payment into 12 monthly expenditures.

[LivinginKata]

Oh, and I forgot to mention the 4% social security payment, that's another 3,800 baht/month deduction on a 95K salary.

[petercallen]

>>Do you include tax in your monthly living expenses if you pay any, thats a new one for me

Having tax taken out of your pay packet doesn't go into your monthly budget/expenses? That's a new one for me. If you don't pay the tax, who does? Being a teacher at an international school would surely mean tax is taken out, therefore on the 95K pre tax income, you're looking at between 9.5K-19K/mo depending on which bracket you fall into. Is that not an expense?

On another note, where do you account for your health, home, and vehicle insurance? Most would not call this a "one of" but rather amortize the payment into 12 monthly expenditures.

In a previous post i said the 40 to 50K included my house and car insurance, sometimes we would only spend 30K

a month so as far as i am concerned 50K covers all our regular monthly expenses including insurance

[LivinginKata]

In a previous post i said the 40 to 50K included my house and car insurance, sometimes we would only spend 30K

a month so as far as i am concerned 50K covers all our regular monthly expenses including insurance

I'm with you on this one. Much the same as us. We have no rent to pay or children to support and I estimate we spend 30K/month on general costs and the other 20K/month to cover car/medical insurance plus other incidental expenses. On the other hand we don't go out to bars or clubs at night, that can easily add much more to the monthly expenses.

[Jimi007]

Oh, and I forgot to mention the 4% social security payment, that's another 3,800 baht/month deduction on a 95K salary.

And what about income tax in your home country? I know I am supposed to report any income from here to the US. But since I don't have any here, it not an issue for me.

[petercallen]

In a previous post i said the 40 to 50K included my house and car insurance, sometimes we would only spend 30K

a month so as far as i am concerned 50K covers all our regular monthly expenses including insurance

I'm with you on this one. Much the same as us. We have no rent to pay or children to support and I estimate we spend 30K/month on general costs and the other 20K/month to cover car/medical insurance plus other incidental expenses. On the other hand we don't go out to bars or clubs at night, that can easily add much more to the monthly expenses.

We do not go to Bars clubs etc as you know and lots of other people are the same to

We eat out on average once or twice a week which is not expensive here

Going to bars etc could easily double your monthly expenditure

buying meals from restaurants if you are single would not increase your

monthly expenditure eating in restaurants that cater for the local population

[petercallen]

Oh, and I forgot to mention the 4% social security payment, that's another 3,800 baht/month deduction on a 95K salary.

And what about income tax in your home country? I know I am supposed to report any income from here to the US. But since I don't have any here, it not an issue for me.

Of coarse i pay all the income tax i am legally obliged to in Australia

People who cheat can end up losing everything with fines on top of what you

owe the Taxation Dept and lots of people get caught

I even pay tax here on my bank interest which would not happen if i kept the

money in Australia as i pay to much tax through owning franked shares etc

[LivinginKata]

Oh, and I forgot to mention the 4% social security payment, that's another 3,800 baht/month deduction on a 95K salary.

And what about income tax in your home country? I know I am supposed to report any income from here to the US. But since I don't have any here, it not an issue for me.

US citizens have the unique requirement to pay some sort of income tax to Uncle Sam. Rest of us pay in the country of earnings. Yes, I know, it's more complicated than that. But this is way off topic now.

[Jimi007]

Oh, and I forgot to mention the 4% social security payment, that's another 3,800 baht/month deduction on a 95K salary.

And what about income tax in your home country? I know I am supposed to report any income from here to the US. But since I don't have any here, it not an issue for me.

US citizens have the unique requirement to pay some sort of income tax to Uncle Sam. Rest of us pay in the country of earnings. Yes, I know, it's more complicated than that. But this is way off topic now.

It's an expense that the OP may not have thought about. I think his employer would pay his Social Security here, wouldn't they?

[sparebox2]

Most back packers turn English teachers only earn 15,000 to 35,000 Baht/month. Shitty room provided.

So with your pay cheque of 95K, you will be living like a king. Trust me.

[LivinginKata]

It's an expense that the OP may not have thought about. I think his employer would pay his Social Security here, wouldn't they?

The employer also pays 4%, and the government chips in 4% also. Usually the employee has to pay his/her 4% share. might be he/she has a deal that the 95K is a clear payment, you never know as I have had that sort of contract/deal in the past.

[katabeachbum]

In a previous post i said the 40 to 50K included my house and car insurance, sometimes we would only spend 30K

a month so as far as i am concerned 50K covers all our regular monthly expenses including insurance

I'm with you on this one. Much the same as us. We have no rent to pay or children to support and I estimate we spend 30K/month on general costs and the other 20K/month to cover car/medical insurance plus other incidental expenses. On the other hand we don't go out to bars or clubs at night, that can easily add much more to the monthly expenses.

We do not go to Bars clubs etc as you know and lots of other people are the same to

We eat out on average once or twice a week which is not expensive here

Going to bars etc could easily double your monthly expenditure

buying meals from restaurants if you are single would not increase your

monthly expenditure eating in restaurants that cater for the local population

so you do not even calculate depreciation of your cars in your living costs, od accounting, or one offs as PC calls it

well I get a new car every year or so, costing me approx 100-130k baht year in depriciation, or I could have kept them for 3 years costing approx 300-350k baht in depreciation but more in Insurance and maintance, and thus calculate my total car cost to 20k baht/month. On the other hand I do not spend money on domestic flights for our 5 or so long trips a year

so for OP a trip home for christmas or whatever with his 13 yo, would this be a one off or paid by his salary?

[katabeachbum]

Most back packers turn English teachers only earn 15,000 to 35,000 Baht/month. Shitty room provided.

So with your pay cheque of 95K, you will be living like a king. Trust me.

a king compared to a back packer, trust me

[petercallen]

If the OP wants do do a trip to his home country every year being a genuine teacher

i am sure he will work it into his cost of living here, personally i do not return to my home country every year

this is my home know and i do not include holidays it in my monthly cost of living

I also do not buy a new car every tear few people do, i am not interested in keeping up with the Joneses

[LivinginKata]

<snip>

so you do not even calculate depreciation of your cars in your living costs, od accounting, or one offs as PC calls it

well I get a new car every year or so, costing me approx 100-130k baht year in depriciation, or I could have kept them for 3 years costing approx 300-350k baht in depreciation but more in Insurance and maintance, and thus calculate my total car cost to 20k baht/month. On the other hand I do not spend money on domestic flights for our 5 or so long trips a year

Getting into the weeds of home accounting here KBB.

No, I don't count car depreciation or holidays in my monthly expenses. I suppose you are technically correct in a hard core accounting sense.

I suppose it horses for courses. I plan to keep cars for 10 years as we don't drive even 10Km each year, never been back home for 15 years. Each to his/her own lifestyle.

[cajunpete]

Thank you sincerely to all have replied.

I will try to answer all questions brought up in the replies so far.

My pay is said to be tax free in the US. ( I am going to find out how this works). Not sure if the company pays the taxes or if there is some sort of agreement for the first two years???

Two bedroom apartment provided with aircon. I have to pay the first 1,000USD in utilities each year, company pays anything over that.

My son and I will both receive round trip airfair each summer to our home of record with a 1,500USD bonus for signing my next years contract. I will be sending my son home for Christmas each year though.

My health care is free to me Cigna Worldwide coverage...no co-pay.

Not into bar girls and the bar scene, would probably like to begin dating again, but pretty sure I do not want to marry again. I am fortunate that my soon to be ex and I are still friends, and that she has asked for nothing from a divorce.

I do not live extravagantly, would probably like to eat out a few days a week though. As I do not think that I will want to cook everyday after work. Household help perhaps, though I consider that an extravagance that I had never considered...what would be the cost for some one to do some cooking and cleaning...housekeeping not one of my strong points

I am told that I should bring my own linens and specialty cookware, otherwise the apartment is completely furnished. They are supposed to be very nice????

A small pick-up would be nice, I usually buy 2-3 year old vehicles and drive them into the ground, then buy another years later. In any event my employer provides an interest free loan of up to 15,000USD for a vehicle (new or used) what would you suggest?

Retirement: I have money coming from social security (I hope 47 yrs old now), and from two teachers retirement systems (I hope again, the states are trying everything they can to screw state emplyoees out of their retirement), but I will want to contribute to a retirement account as well. Not sure what type to contribute to due to my pay being "tax free", how would that effect Ira traditional or IRA Roth??? I must talk to an investment advisor. Anyone know how this would work?

I own a modest house outright in the US and will probably be selling it and investing the proceeds. I am not sure where I will want to retire so I am not in a hurry to but anything. I will also be inheriting two more houses and have no idea what I will do with those when the time comes, as I am an only child. Probably will be for my son to get a good start in life after college. I won't want him to be saddled with student loans and a house note.

I do love to travel. The idea I currently have to to live in a region for 2-4 years and travel the area as much as possible, them move on to another and to then repeat the process until retirement. In the mean time I hope I will have found where I want to eventually retire and buy a place there. As I said before, I have modest tastes, I do not anticipate having a difficult time.

Is there anything I havent responded to or not thought of. Please respond if you think of anything. I really do appreciate the help up to this point.

-CP

Edited to fix typos and add information

Edited January 9, 2012 by cajunpete

[barka]

You sound a sensible person..my only advice i can give you is...learn to live here in PHUKET..Take your time its a great place to live and on your salary etc,you can enjoy it..

2 things that i always do...

1 When i wake up remember where i am...PHUKET

2 Remember who i am..A FARLANG [a western Foreigner]

some good advice....[ .Buddha Saying.]...DONT BELEIVE ANY THING ANYONE TELLS YOU..EVEN IF I TELL YOU...

ONLY BELEIVE WHAT YOU THINK IS RIGHT YOURSELF Good luck i hope you have a happy time here..

[thaiIand]

and avoid eating at oishi buffet if you can, going bareback on a hooker might be safer for your health

[farangme]

Aren't you glad you asked? You can only hope you find more intellect at work than online.

Posted with Thaivisa App http://apps.thaivisa.com

[katabeachbum]

Thank you sincerely to all have replied.

I will try to answer all questions brought up in the replies so far.

My pay is said to be tax free in the US. ( I am going to find out how this works). Not sure if the company pays the taxes or if there is some sort of agreement for the first two years???

Two bedroom apartment provided with aircon. I have to pay the first 1,000USD in utilities each year, company pays anything over that.

My son and I will both receive round trip airfair each summer to our home of record with a 1,500USD bonus for signing my next years contract. I will be sending my son home for Christmas each year though.

My health care is free to me Cigna Worldwide coverage...no co-pay.

Not into bar girls and the bar scene, would probably like to begin dating again, but pretty sure I do not want to marry again. I am fortunate that my soon to be ex and I are still friends, and that she has asked for nothing from a divorce.

I do not live extravagantly, would probably like to eat out a few days a week though. As I do not think that I will want to cook everyday after work. Household help perhaps, though I consider that an extravagance that I had never considered...what would be the cost for some one to do some cooking and cleaning...housekeeping not one of my strong points

I am told that I should bring my own linens and specialty cookware, otherwise the apartment is completely furnished. They are supposed to be very nice????

A small pick-up would be nice, I usually buy 2-3 year old vehicles and drive them into the ground, then buy another years later. In any event my employer provides an interest free loan of up to 15,000USD for a vehicle (new or used) what would you suggest?

Retirement: I have money coming from social security (I hope 47 yrs old now), and from two teachers retirement systems (I hope again, the states are trying everything they can to screw state emplyoees out of their retirement), but I will want to contribute to a retirement account as well. Not sure what type to contribute to due to my pay being "tax free", how would that effect Ira traditional or IRA Roth??? I must talk to an investment advisor. Anyone know how this would work?

I own a modest house outright in the US and will probably be selling it and investing the proceeds. I am not sure where I will want to retire so I am not in a hurry to but anything. I will also be inheriting two more houses and have no idea what I will do with those when the time comes, as I am an only child. Probably will be for my son to get a good start in life after college. I won't want him to be saddled with student loans and a house note.

I do love to travel. The idea I currently have to to live in a region for 2-4 years and travel the area as much as possible, them move on to another and to then repeat the process until retirement. In the mean time I hope I will have found where I want to eventually retire and buy a place there. As I said before, I have modest tastes, I do not anticipate having a difficult time.

Is there anything I havent responded to or not thought of. Please respond if you think of anything. I really do appreciate the help up to this point.

-CP

Edited to fix typos and add information

2-3 yo vehicles is clever back home where they cost half of new. here its 65-75% of new for a 3yo, so I recomend getting a new one.

at 465k baht you can get a Nissan March/Micra, or its sister Almera sedan.

moving up 100k baht gets you a Mazda2

and another 100k baht a pickup with airbags but at this pricelevel still stick shift, the above autos and dual airbags

good luck with your new job and your new life. you seem to know what you r getting into.

[cajunpete]

Thanks to everyone who has replied. I believe that I received good, very well thought out advice from people who should know. That is more of a comfort than I could ever explain...THANKS!!!!

-CP

[phuketrichard]

since ur making 95 i would assume u will be teaching at BIS. good school for u an your son.

Its just my daughter and I here and I have to pay rent ( 12,000/month) and school fees ( 29,000 baht/month) and we live very well on 75,000 so since ur school and rent are covered u will be able to save that ( over 40,000/month) own my own car

If they cover your house and med insurance u will live very well

2 bedroom apt running air cons at night will run u 3,000 baht for electricity If there paying $1,000 us/year 33,000 baht you'll do fine

food for 2 including all essentials ( soap, shampoo, cleaning stuff) 6,000 baht

eating out ( not lobster or steak but average) 5,000

internet 600-1,000/month

ubc 1,600

Gas for car depends on where they put ya, I spend under 5,000 and drive my daughter 70 or so kms to school and back/day

Rent a car 15,000/month

buy 400-800,000 and 15,000 insurance

misc 10,000

Maid 6,000/month

so as u can see your way under 95,000

figure setting up ur home ( tv, sheets, pillows, kitchen ware) under 100,000

You'll do fine!!!

Boats are like a junkie as ur always putting money into them

PS the Oshi buffet in Junk Ceylon is a great deal for 330 baht for all u can eat , Daughter and I just ate there Saturday!!

AS us citizen ur allowed to earn $92,000 and pay no tax

Phuket is really no more expensive than elsewhere in Thailand TILL u go out to eat/ bar hop and or buy a home/ And much cheaper than Samui

Edited January 11, 2012 by phuketrichard

[Peterocket]

If the place of work in question is BIS then there will be 20% tax on the wage.

In my opinion its a bit of a strange thread though, is there anywhere in the world where a 95k baht with free healthcare, accommodation and education for the kids wouldn't give you an "ok" standard of living. Let alone Thailand.

[barka]

Im sure Cajunpete,ater his last thank you post,knows this already,your just going over old gound..and speculating..

[Jimi007]

Im sure Cajunpete,ater his last thank you post,knows this already,your just going over old gound..and speculating..

One would think. I guess some members are a wee bit bored?

Sounds to me as though he has a plan and I wish Cajunpete all the best! Life is too short, enjoy it!