Just How "broke" Are Thais?

[pinfold]

Standing in Aeon (sp) queue yesterday could not help but notice how little the Thais have in their accounts,five ahead of me,none had more than 347 baht in their accounts,(screens on view,why they not try and hide it?). Taking from one account (100 baht) to pay into another account,not the first time I have noticed a juggling act on a bare minimum of savings.

Interesting read in the Bangkok Post in two editions this week,of the strong Baht decimating the Thai workers,exports be it cars rice are drying up,School,college/leavers have no jobs awaiting them except food carts and a close analogy of Greece was to be reckoned with,with future prospects for Thailand

The K bank adverts spanning over two years tells a story too, "cash for cars" firstly,then "cars for cash" latterly,leading the punter into a gold shop for more interesting purchases,just lose, lose and lose some more

[ThaiPauly]

If I had witnessed what you did I would be grateful that I'm not in that position TBH

[transam]

If you were looking over my shoulder you would receive a few expletives.

[robblok]

I would love to believe you but the Thai economy is much better as the Western ones at this moment. It could change of course but for now its has much more growth. I too would love it if it was different and the exchange rate would change but realistic its just hoping and dreaming at this point in time.

[Jingthing]

When Thais see my balance (yes many do look; it's a healthy retirement extension based account) some make goo goo eyes at me in response. To the number.

Edited May 3, 2013 by Jingthing

[chrisinth]

"Standing in Aeon (sp) queue yesterday could not help but notice how little the Thais have in their accounts"

Should your opening line not read something like:

"Standing in Aeon (sp) queue yesterday could not help but notice how little the Thais that I observed have in their accounts..........."

I have seen some generalization on this forum, but this is one of the better ones.................

[Jingthing]

I would love to believe you but the Thai economy is much better as the Western ones at this moment. It could change of course but for now its has much more growth. I too would love it if it was different and the exchange rate would change but realistic its just hoping and dreaming at this point in time.

I think there is a cultural tendency here to spend all you're money (and more) period, good times and bad. Thais remind me of Americans in the 80s.

Edited May 3, 2013 by Jingthing

[ghworker2010]

Not all thai's are hard up as one would imagine.

I know a thai lady who has one of those food trolley cards - she sells soup. She told me that her profit is thb30k a month. Ive talked to a few of my farang friends who agree that sometimes its a myth that all thais are poor. The main factor to remember is that its mostly a cash economy for them. Its rare that they pay much tax...

[pinfold]

"Standing in Aeon (sp) queue yesterday could not help but notice how little the Thais have in their accounts"

Should your opening line not read something like:

"Standing in Aeon (sp) queue yesterday could not help but notice how little the Thais that I observed have in their accounts..........."

I have seen some generalization on this forum, but this is one of the better ones.................

Suppose you could be right,not only did I observe three Thais in front of me had no money whatsoever to extract,but the one immediately in front withdrawing the 100baht was apologising profusely to me(the one immediately behind him) that it was taking so long to get it into a second account,maybe he wanted a handout

Anyway I am posting this on my behalf for observation," I "or "we" or whatever is of no consequence.

i did intimate "me" in the first line too,so possibly someone could adjudge,well possibly not !!

Edited May 3, 2013 by pinfold

[petermik]

When Thais see my balance (yes many do look; it's a healthy retirement extension based account) some make goo goo eyes at me in response. To the number.

Good job they cannot see mine

[pinfold]

When Thais see my balance (yes many do look; it's a healthy retirement extension based account) some make goo goo eyes at me in response. To the number.

Good job they cannot see mine

Mistakenly left the safe open a few months ago,the Thai g/f surely had a good look-see at the bank book ,now all I get is "why you no buy how"?"why you no buy new bike"?

[soi41]

When Thais see my balance (yes many do look; it's a healthy retirement extension based account) some make goo goo eyes at me in response. To the number.

I am sure that those who accidently happens to see your balance, are handpicked??

[Jingthing]

When Thais see my balance (yes many do look; it's a healthy retirement extension based account) some make goo goo eyes at me in response. To the number.

I am sure that those who accidently happens to see your balance, are handpicked??

Funny, but I find the majority are trying to look. Human nature I guess.

[i claudius]

It's true not all thais are broke ,my wife went out yesterday with the family and when she came home she told me how much my sister in law made on the "other" lottery this month ,i must admit it made my eyes water and that was on top of her salary working for a hotel group in Bkk .

[Stradavarius37]

When Thais see my balance (yes many do look; it's a healthy retirement extension based account) some make goo goo eyes at me in response. To the number.

Good job they cannot see mine

Mistakenly left the safe open a few months ago,the Thai g/f surely had a good look-see at the bank book ,now all I get is "why you no buy how"?"why you no buy new bike"?

You picked a winner there!

[StreetCowboy]

 

"Standing in Aeon (sp) queue yesterday could not help but notice how little the Thais have in their accounts"

Should your opening line not read something like:

"Standing in Aeon (sp) queue yesterday could not help but notice how little the Thais that I observed have in their accounts..........."

I have seen some generalization on this forum, but this is one of the better ones.................

Suppose you could be right,not only did I observe three Thais in front of me had no money whatsoever to extract,but the one immediately in front withdrawing the 100baht was apologising profusely to me(the one immediately behind him) that it was taking so long to get it into a second account,maybe he wanted a handout

Anyway I am posting this on my behalf for observation," I "or "we" or whatever is of no consequence.

i did intimate "me" in the first line too,so possibly someone could adjudge,well possibly not !!

 

Last time I was in the bank there was a bloke - ordinary looking fellow - paying in a plastic bag full of thousands. I'd reckon a few million baht. Personally, I don't keep cash in my bank account. Maybe a lot of Thais skim their savings off fairly quickly as well. Less of a temptation, once its in the savings book account or whatever. So if you looked over my shoulder at the start of the month it might make your eyes water, and at the end of the month you;'d be in tears, like me.

SC

[Phronesis]

I think there is a cultural tendency here to spend all you're money (and more) period, good times and bad. Thais remind me of Americans in the 80s.

I had the same epiphany the other night. I was in a popular high end live music venue in Phuket Town a few nights ago. I was people watching and came to the conclusion that these young folks were very much like the characters portrayed in the first Wall Street movie. Carefree yuppies, drunk, way over dressed, and blowing every cent on cocktails and sushi...

Great vibe to be amongst...but not sure if this phenomenon should be viewed as evidence of a not too distant crash in the economy.

[wayned]

I live in a small farming community where I think that the Thais live day to day. When they harvest they have money for a week but then nothing. Often they charge meals at my wife's small restaurant but the next day show up with a new tractor or truck. My wife says that they borrow it on next years crops and blow it as soon as it hits their pockets.

[Boater]

I would love to believe you but the Thai economy is much better as the Western ones at this moment. It could change of course but for now its has much more growth. I too would love it if it was different and the exchange rate would change but realistic its just hoping and dreaming at this point in time.

I think there is a cultural tendency here to spend all you're money (and more) period, good times and bad. Thais remind me of Americans in the 80s.

Hit the nail on the head there. I see some Thais spend 80% of there salary just on there car/truck , or if they receive there yearly bonus they go and spend it all in an iPhone ! Thais and saving don't seem to go together unless they are very upper class

Sent from my iPhone using ThaiVisa app

[doji]

You shouldn’t judge people based on what you see on their bank balance, or their humble existence,… ‘cause you don’t know “how many bank account they actually have”, or what they actually do for a living” ects. And many rich thais do not use atm, they like to get their bucket full of cash from the teller directly.

My 2 aunties sell homemade thai desserts at the paksoi food stalls and make enough to just cover normal household expenses monthly. You should have seen their bank balance, eventhough they may be “cash poor” but are quite “hard assets rich”, well let’s say…their current net worth can make many farangs here want to be their gik. Anyone interested?

[wellred]

^^ PM me

[Travel2003]

I think there is a cultural tendency here to spend all you're money (and more) period, good times and bad. Thais remind me of Americans in the 80s.

I agree.

Seems to me it is a regional thing as well.

Enjoy the good times, and get by during the bad times.

That's life.

[BookMan]

You shouldn’t judge people based on what you see on their bank balance, or their humble existence,… ‘cause you don’t know “how many bank account they actually have”, or what they actually do for a living” ects. And many rich thais do not use atm, they like to get their bucket full of cash from the teller directly.

My 2 aunties sell homemade thai desserts at the paksoi food stalls and make enough to just cover normal household expenses monthly. You should have seen their bank balance, eventhough they may be “cash poor” but are quite “hard assets rich”, well let’s say…their current net worth can make many farangs here want to be their gik. Anyone interested?

Yeah, PM me some photos mate, and also how much will they pay me each month and what type of condo will they put me up in?

[Soutpeel]

lets ask a follow up question here...just how broke is the average farang retiree/english teacher living in Thailand ?

or we could get more scientific...could the average retiree/english teacher survive in Thailand for a period of say 3 months without an income ?

Based on family bonds within Thailand one suspects the average "broken" Thai could survive 3 months without any money coming unlike their farang counterparts...

[Farma]

There are obviously people well off and others struggling but don't judge based on a few people lining up at the ATM.

Villagers tend to keep cash. Look at how much aunty has the next time she pulls a wad of cash from the zipped pocket in her bra. Or Pops when he ducks into the bedroom and returns with a wad to pay for that latest fertiliser delivery.

Then you have the others who keep multiple accounts to pay the various suppliers for their corner store or whatever. Different suppliers have accounts with various banks. It's easier to open an account with the same bank as the supplier to transfer money.

Add to that savings held in government bonds, credit unions and of course gold.

[NoshowJones]

When Thais see my balance (yes many do look; it's a healthy retirement extension based account) some make goo goo eyes at me in response. To the number.

If you notice anyone looking at your'e bank balance, or what you take out at the ATM, watch for chalk marks on your'e clothing.

[Travel2003]

lets ask a follow up question here...just how broke is the average farang retiree/english teacher living in Thailand ?

or we could get more scientific...could the average retiree/english teacher survive in Thailand for a period of say 3 months without an income ?

Based on family bonds within Thailand one suspects the average "broken" Thai could survive 3 months without any money coming unlike their farang counterparts...

If that is the criteria (I do not know what is), then I believe millions and more millions in the west with jobs, houses, cars, etc, are basically poor people, since they will be personally bankrupt after 2-3 months without salary (pay backs to the banks).

Still very few back in the EU/US area who can sustain longer periods without salary.

[Phronesis]

All of them (Thais) must have more money then me.

Every Thai that I know drives a newer model car than me.

[villagefarang]

I think your observation may say more about the kind of people who tend to use ATM machines, than it does about Thai people in general.

[Soutpeel]

lets ask a follow up question here...just how broke is the average farang retiree/english teacher living in Thailand ?

or we could get more scientific...could the average retiree/english teacher survive in Thailand for a period of say 3 months without an income ?

Based on family bonds within Thailand one suspects the average "broken" Thai could survive 3 months without any money coming unlike their farang counterparts...

If that is the criteria (I do not know what is), then I believe millions and more millions in the west with jobs, houses, cars, etc, are basically poor people, since they will be personally bankrupt after 2-3 months without salary (pay backs to the banks).

Still very few back in the EU/US area who can sustain longer periods without salary.

bingo...but lets bring the question closer to home....how many of TV's finest could survive 3 months in Thailand without any money coming in ?