Perception of financial wealth...and happines.

[BKResort]

This is common in many Western countries...specially in the US..where many new luxury cars drivers have a average job but prefer to live in debts and show up "wealth". ...Looks like it is happening in Thailand too...

My wife's family with 3 sisters are very diverse. One sister owns a nice motel with her school teacher husband, other is a housewife married with a Thai Post employee, and the other is a typical and very modest small rice farmer. I love to visit them often. Very simples and happy people, bringing food and presents, and helping in farming when we can. The others, always have an issue to complaint about.....

All them, including their children, drive nice cars and motorbikes, dine in good restaurants, take vacations, hold house parties,etc, but not the farmer couple. They live in a very modest, small and old house, do not own a car, AC, internet, computers, or fancy phones, just and old motorbike and grows it own food. It is what we may call a Thai poor family from the countryside.

Months ago we had an unexpected an urgent spend of over 35000thb..and.... without asking.... this "poor" couple comes with the cash to lend to us without conditions..I felt very bad, and I asked my wife what happens with the rest of the family.

She said, that the others are burried in debts....but the farmers hold a small but safe savings account....always helping its grown and married childrens, even if them also are spending what they cannot afford....

[RasiMike]

I agree with your comments on the west and I believe living beyond ones means is an increasingly common way of life in Thailand. Some members of our Thai family are one bad season from bankruptcy. Credit is relatively easy to afford but it's the paying back that proves the undoing for many. I just look at the new pickups parked in peoples yards that go nowhere - diesel costs too much to run them. Long running businesses bankrupt because the owners kids are spending it faster than it comes in. Homes and farms that have been owned by the family for years mortgaged to the hilt.

I know a few people in local villages that I like to sit with and chat about such things...they are the Thai people I like... Rich? - definitely not. Happy? - maybe. Content? - definitely. I don't have many of these friends in my home country anymore.

IMHO, dying with the most toys isn't winning me anything. My wife and I try to instill this in our kids but it's likely that society, media and other reported ideal standards will put an awful lot of pressure on this.

[fang37]

Thai weakness!

New cars.

They would spend more on the car eg washing than any other activity (except television viewing).

[AyG]

The opposite also occurs. I know of cases where managers of large, western-owned companies wear shabby clothes and drive old, battered cars to hide the vast bribes they're demanding from their suppliers.

[Orac]

If you can't cover an unexpected 35k baht expense in Thailand then, unless you are a Thai in your own country, I would be more concerned about your own spending habits than other peoples.

[bkksteve123]

If you can't cover an unexpected 35k baht expense in Thailand then, unless you are a Thai in your own country, I would be more concerned about your own spending habits than other peoples.

Have to agree with this. If I couldn't cover this amount by simply walking to the nearest ATM machine then I don't think I would be staying in Thailand for long. In fact, anything less than 6 months expenses then I would head straight back to Farangland, before it's too late.

But back to the main topic, certainly there are people that spend above their means in all countries. However, I have to agree that the situation in Thailand is alarming. A lot of thais in Bangkok but things to show off; a car (or the creditor owns it), the latest smartphone, yet they earn less than 30k per month. They cannot possibly save anything. In western countries the situation is similar in the sense that people buy useless crap, but with the difference that a lot of people are paying off a mortgage and at the end of 30 years they will own it with a net worth of a few hundred thousand USD/EUR/GBP/AUD. A lot of thais will have nothing to show for when they are nearing "retirement age".

It's the mentality. The thai way - living in the moment - it seems to me that a lot of people here do not plan ahead or think much further than the next meal sabai sabai

[mmh8]

agree with orac it shows a lack of responsbiilbty if you have a family and are unable to cover a couple weeks bills. If you are haviong trouble with 35k you are spedning too much on food, or accom, or travel, or fun etc.

what would happen if you came across a real problem like hospital inpatient, car accident - you or someone else - law suit etc,

wrt perception of financial wealth one mans prison is another mans freedom

Edited June 17, 2015 by mmh8

[BKResort]

If you can't cover an unexpected 35k baht expense in Thailand then, unless you are a Thai in your own country, I would be more concerned about your own spending habits than other peoples.

You are right. I am living in Thailand because I over spended in my country.....but at least....here.. I can be poor and happy.

[Stan42]

They're called Hiso's. The have a luxury car, wear the latest fashion, and have the latest gadgets. But I've seen where and how they live privately. A rundown house, a small room for under 8k a month, and piles of debts.

I don't even own a car, in fact, I haven't been behind a wheel for over a decade. I wear comfortable shabby clothes that are several years old, I don't even have a smartphone. I have an average, for a farang, income but spend it on more important stuff like my well serviced and very conveniently located apartment, smokes and booze, and top medical treatment. I have no debts and at 80k my computer is the most expensive thing I own.

Am I happy? Yes I am.

[Soutpeel]

They're called Hiso's. The have a luxury car, wear the latest fashion, and have the latest gadgets. But I've seen where and how they live privately. A rundown house, a small room for under 8k a month, and piles of debts.

I don't even own a car, in fact, I haven't been behind a wheel for over a decade. I wear comfortable shabby clothes that are several years old, I don't even have a smartphone. I have an average, for a farang, income but spend it on more important stuff like my well serviced and very conveniently located apartment, smokes and booze, and top medical treatment. I have no debts and at 80k my computer is the most expensive thing I own.

Am I happy? Yes I am.

You have seen where ALL the Hi-So's live ? ...WOW I am impressed, fact is what you perceive to be the HiSo's are in fact the HiSo wannabees not the real ones

[Berkshire]

They're called Hiso's. The have a luxury car, wear the latest fashion, and have the latest gadgets. But I've seen where and how they live privately. A rundown house, a small room for under 8k a month, and piles of debts.

I don't even own a car, in fact, I haven't been behind a wheel for over a decade. I wear comfortable shabby clothes that are several years old, I don't even have a smartphone. I have an average, for a farang, income but spend it on more important stuff like my well serviced and very conveniently located apartment, smokes and booze, and top medical treatment. I have no debts and at 80k my computer is the most expensive thing I own.

Am I happy? Yes I am.

You have seen where ALL the Hi-So's live ? ...WOW I am impressed, fact is what you perceive to be the HiSo's are in fact the HiSo wannabees not the real ones

You're right, hi-so's don't live in dumps. But these so-called wannabees managed to fool ole Stan into thinking that they're hi-so. I really didn't think anyone could fall for that.

[Aladdin]

Take a ”late night” stroll down the deep sois and you will soon discover that there are many people living in their new and fancy cars.

[YeahSiam]

I don't think that people who've

moved here because they can't

afford to live comfortably in their

own countries are in a position

to be calling out the Thais.

Personal indebtedness in

Farangistan is still alarmingly

high and more than a few are

one interest rate hike away from

repossession while even more

finance their weekly essentials

on credit cards.

[Soutpeel]

They're called Hiso's. The have a luxury car, wear the latest fashion, and have the latest gadgets. But I've seen where and how they live privately. A rundown house, a small room for under 8k a month, and piles of debts.

I don't even own a car, in fact, I haven't been behind a wheel for over a decade. I wear comfortable shabby clothes that are several years old, I don't even have a smartphone. I have an average, for a farang, income but spend it on more important stuff like my well serviced and very conveniently located apartment, smokes and booze, and top medical treatment. I have no debts and at 80k my computer is the most expensive thing I own.

Am I happy? Yes I am.

You have seen where ALL the Hi-So's live ? ...WOW I am impressed, fact is what you perceive to be the HiSo's are in fact the HiSo wannabees not the real ones

You're right, hi-so's don't live in dumps. But these so-called wannabees managed to fool ole Stan into thinking that they're hi-so. I really didn't think anyone could fall for that.

Makes you wonder what else Stan has fallen for "honest gov I thought he was a "she"

[robblok]

Makes you wonder what else Stan has fallen for "honest gov I thought he was a "she"

Its not nice to project your own fantasies / desires onto others Soutpeel.

[Seastallion]

My wife thinks most of her teacher colleagues are fools. As teachers, they think they have to keep up appearances and so go into unaffordable debt to get a car and all the gadgets and clothes. On Thai teacher's salary, nobody can afford to run a car, let alone buy one if the salary is the sole family income and they're renting, yet they do.

Wifey's priority one is to get a house, and priority 2 to secure her retirement financially....THEN buy a car. And I never put her up to those goals....She always tells me she must have been farang in a previous life because she knows she is odd for a Thai.

We have one neighbour who probably earns a decent salary (guessing 20-30k/month), and spends all his money on the latest gadgets, cars, bikes hifi stuff etc. I doubt he's in debt, but he rents and won't buy. He has a wife and daughter to support. My wife once asked the wife why they don't buy a house as they have a daughter who will need it one day. Her answer floored me. She said her husband wont buy a house, because if he dies, his wife will marry again and someone else will get to use the house. So he spends all his income on toys and eating out.

[Shiver]

Maybe you could show them a picture of Warren Buffet with his fairly modest and not new car.

Another thing I like to show people (although it's a Thai person it is in English, so something may be lost in translation) is JonJanDai on his TedX presentation:

[Berkshire]

My wife thinks most of her teacher colleagues are fools. As teachers, they think they have to keep up appearances and so go into unaffordable debt to get a car and all the gadgets and clothes. On Thai teacher's salary, nobody can afford to run a car, let alone buy one if the salary is the sole family income and they're renting, yet they do.

Wifey's priority one is to get a house, and priority 2 to secure her retirement financially....THEN buy a car. And I never put her up to those goals....She always tells me she must have been farang in a previous life because she knows she is odd for a Thai.

Does your wife even know the spending habits of a typical farang to say that? The American mindset is pretty much to spend, spend, spend, go into debt if you have to (keeps the economy going). Get the latest gadgets. Buy stuff you can't afford. Enjoy life now! So it's rather odd that she would say that.

[nithisa78]

You write very well. Thank you.

It is common the world over. People often use material things to help comfort them, compensate. I read and say thank you.

Some material things are very good. Food, water, housing, are my first thoughts. Often there isn't much we can do. Just love one another and trust.

Edited June 17, 2015 by nithisa78

[SOUTHERNSTAR]

Thai weakness!

New cars.

They would spend more on the car eg washing than any other activity (except television viewing).

Not only Thai's the US have a looming sub-prime auto loan problem on the way. That is after they already have a college loan problem and a national debt problem. Thailand is not unique, the world is sinking under the debt that was allowed to be created by goverments, to enrich company shareholders and CEO's and pay for social stability. The next 3 generations can't pay back the worlds debt.

[nithisa78]

Thai weakness!

New cars.

They would spend more on the car eg washing than any other activity (except television viewing).

Not only Thai's the US have a looming sub-prime auto loan problem on the way. That is after they already have a college loan problem and a national debt problem. Thailand is not unique, the world is sinking under the debt that was allowed to be created by goverments, to enrich company shareholders and CEO's and pay for social stability. The next 3 generations can't pay back the worlds debt.

The next three generations will be busy reinventing the monetary system. How the every-man does business with life itself.

[Tassie Norm]

If you can't cover an unexpected 35k baht expense in Thailand then, unless you are a Thai in your own country, I would be more concerned about your own spending habits than other peoples.

Irrelevant and a strange thought process. How does one unite 'unexpected expense' and 'spending habits'? You sound like a real happy generous soul - not!

[MaeJoMTB]

If you can't cover an unexpected 35k baht expense in Thailand then, unless you are a Thai in your own country, I would be more concerned about your own spending habits than other peoples.

You are right. I am living in Thailand because I over spended in my country.....but at least....here.. I can be poor and happy.

I worry if I have less than a year's spending money in the bank.

Unbelievable how some foreigners live!

[Orac]

If you can't cover an unexpected 35k baht expense in Thailand then, unless you are a Thai in your own country, I would be more concerned about your own spending habits than other peoples.

Irrelevant and a strange thought process. How does one unite 'unexpected expense' and 'spending habits'? You sound like a real happy generous soul - not!

My though process would be that i need enough money available should me and my family have a sudden unexpected expense - certainly enough to cover 35k baht which is hardly significant. I would tailor my spending habits accordingly so as not to spend every penny i had in case of such emergencies.

Personally i do not find this a 'strange' concept and certainly not irrelevant to the well being of me and my family in a foreign land.

Not sure why you would think me unhappy or not generous based on this, indeed having planned ahead for future financial problems gives me peace of mind and the ability to help others less fortunate.

[BKResort]

If you can't cover an unexpected 35k baht expense in Thailand then, unless you are a Thai in your own country, I would be more concerned about your own spending habits than other peoples.

Irrelevant and a strange thought process. How does one unite 'unexpected expense' and 'spending habits'? You sound like a real happy generous soul - not!

My though process would be that i need enough money available should me and my family have a sudden unexpected expense - certainly enough to cover 35k baht which is hardly significant. I would tailor my spending habits accordingly so as not to spend every penny i had in case of such emergencies.

Personally i do not find this a 'strange' concept and certainly not irrelevant to the well being of me and my family in a foreign land.

Not sure why you would think me unhappy or not generous based on this, indeed having planned ahead for future financial problems gives me peace of mind and the ability to help others less fortunate.

Again...I totally agree with your thinking, but not everybody can do it, and, like myself, I have to take the risk. No choices....

Sometimes risk have to be taken with positive mind and learning with past mistakes. Retired and living with less than 30000thb/month I have in Thailand the kind of life and happines I didn't had in my country with 5 times that money....working very hard..and spending a lot of money to keep working....and feel wealthy and sucessful. I really envy the life of some very simples Thai people...,,and feels bad about the future of new "global" generations.

[pigeonjake]

i saw it in the uk many many times,

if the wages were a day late going into the bank, blind panic, it happens all over the world,

some have there heads screwed on others dont, simple, i had it simillar with my ex wife, ide come back from a trip off shore or from working in another country to find she had bought all sorts of rubbish, but her whole family are the same, we could aford it, the rest of her family couldnt, but they had to have the latest gadgets, and she is still the same i pitty her new husband,,lol,, they have speed boat they use twice a year on the trent, because the ex father in law had one years ago,

op, if your happy with your lot here mate good on you,

life can be very cheap here, thats why a lot of people are here,

[1FinickyOne]

An Amish farmer and his wife stash their savings in a sock - they are going to a closing where they will be buying some land for $250,000 - His wife hands him a sock and he starts counting out the money but there is only $200,000 - "Esther," he says, "you brought the wrong sock."

Some people spend, some people save - the way of the world.

[Veeke]

Thank you very much for this very interesting presentation of contradictory values in the same family. As many social scientists explained this "conspicuous consumption" is natural in a society where material possession and luxury are valued more than humanity. The farmer family are more down to earth and realistic - not swayed much by the value- makers (be it peer group, media, movies and commercial advertisements) - They are not "noticed" but they always will be loved. They "have" less with them but they always do more.

[YeahSiam]

If you can't cover an unexpected 35k baht expense in Thailand then, unless you are a Thai in your own country, I would be more concerned about your own spending habits than other peoples.

You are right. I am living in Thailand because I over spended in my country.....but at least....here.. I can be poor and happy.

I worry if I have less than a year's spending money in the bank.

Unbelievable how some foreigners live!

Conclusive proof that snobbery

among Cheap Charlies actually

is a thing.

[Wasa]

They're called Hiso's. The have a luxury car, wear the latest fashion, and have the latest gadgets. But I've seen where and how they live privately. A rundown house, a small room for under 8k a month, and piles of debts.

I don't even own a car, in fact, I haven't been behind a wheel for over a decade. I wear comfortable shabby clothes that are several years old, I don't even have a smartphone. I have an average, for a farang, income but spend it on more important stuff like my well serviced and very conveniently located apartment, smokes and booze, and top medical treatment. I have no debts and at 80k my computer is the most expensive thing I own.

Am I happy? Yes I am.

You're gonna need the money you have saved through such a frugal lifestyle to afford the health consequences of a lifetime of smoking and to a lesser extent the booze?