Thais are unable to account for almost three-quarters of their expenses: VISA

[arrowsdawdle]

Thinking about my unaccounted spending, I'm guessing 30% on beer and 40% on "loose" women. The rest was just wasted.

Here is a revolutionary idea...it is called a monthly statement.

[RubbaJohnny]

Did it all dribble to an invisible hub in Laksi North Bangkok Chang Watttheferr......

To prevent the Orange mafia being tempetd by drink vice and gambling I go direct and cutt out the middleladyman

Of course we often read on bad news for the regime days , howvere infrequent of a humble son of the soil rescuing elephants from a swamp,catoey up a tree or cabby who returns large wedge of yabba payoff back to the heavily armed dealers.

To pay impuckerable journos to spin such gems needs not Thai visa rather Siamese Mastercard..

Remeber you can flail some of the pupils some of the time,you can fail all of the people somtams, And you can run over whoever you like if you're daddy;s a swingin'

Edited October 20, 2015 by RubbaJohnny

[gomangosteen]

Public unaware that Visa is shamelessly promoting itself through news releases by claiming cash spenders don't know where there money is spent. TV falls victim to the scam.

Yes, this 'shock news' simply part of latest global marketing of their debit cards. They have a similar 'mystery spending' news release for USA, topped with:

Debit cards provide an easy and effective way for consumers to access available funds for purchases. And, according to the Visa survey, consumers agree. Among debit cardholders we surveyed, the majority (64 percent) believe their debit card helps keep mystery spending to a minimum and four out of five say a debit card helps them track their spending. This feedback supports that debit cards can definitely be used as a money saving tool.

The results also showed that 48 percent of Americans surveyed who use cash say they can’t account for almost one-third of it.

Edited October 20, 2015 by gomangosteen

[Cake Monster]

This statement from " Visa Card " comes as little surprise to me.

When the average Thai cannot multiply 2 X 200 baht in their head, and has to use a calculator, why are they allowed to even have a credit card.

[Expat1]

Yep, this is endemic here and very cultural. All big sanuk. Well, I must say it has profited me well, not in monetary terms but in getting my way with them when needed. An example is my gik. I have had the same gik for years. She used to steal from me, she would run off with a Thai guy, and all sort of subterfuge but in the end it was her frivolous spending habits that kept bringing her back. The latest being her borrowing money from some gangster in her town for her dad who in turn spent the loan she got, at outrageous usury rates, on booze, cards, and hookers. Sure enough she comes back hat in hand. It is as inevitable as the rain. No complaints here.

[gk10002000]

One of the best wealth building exercises is to get a small notebook, and for one month, write down every every every single thing you bought. Usually the results are eye opening. There are plenty examples in history of successful businessmen that did that when they were young. Try it for the next month and report your results here. If there are one or two things you would prefer not to divulge or list, just label it C for Classified.

[Soutpeel]

Positive news for once....at last an example of where Thailand is catching up with west

[daiwill60]

Why is VISA bothered as long as they get their money? I dont understand their involvement in this.

It's advertising of sorts " look what we have discovered, that you maybe cannot admit too. If you read this and realise that you are in the same situation, then you can come to us, we can help spread the bills", don't you get that ?

I hear what you say and I agree with the sentiment. Trouble is that VISA wont help spread any debts for you

I know that and you know that , but the general majority of debt ridden Thais don't maybe, and that is what Visa probably are depending upon in their attempt to woo potential customers by highlighting the story, JEEEZ !!!!

[cmsally]

One of the best wealth building exercises is to get a small notebook, and for one month, write down every every every single thing you bought. Usually the results are eye opening. There are plenty examples in history of successful businessmen that did that when they were young. Try it for the next month and report your results here. If there are one or two things you would prefer not to divulge or list, just label it C for Classified.

Both my children had to do this especially in the period when they first started work and after graduating. No good having a great education and job when you can't manage your money.

[Chalard]

Many Thai men blow their money on gambling ,booze and cheap hookers basically the same as lower working class people in the west.

Thai women spend it all on expensive skin creams,handbags and cell phones.

The army is clamping down on street loan sharks. Indians who have been here for years are threatened with deportation if they contunue with the 20% daily interest scam.

Indians? In my experience, it has all been Thais.

In Bangkok from Sukhumvit and Silom its controlled by Indian Thai's but the collectors are Indians.

Yep. There is even indians out the nakhon nayok road now collecting too. Never seen this before in 8 years