PM urges Thais to start saving and to make saving a Thai culture

[rooster59]

PM urges Thais to start saving and to make saving a Thai culture

BANGKOK: Prime Minister Prayut Chan-ocha urges Thai people to start saving and to make savings a Thai culture.

Making the plea for saving one day ahead of the National Savings Day on Saturday, the prime minister , in his address on “returning happiness to the people” programme, offered some dismal facts about savings in Thailand.

Citing the findings, he said that 41 percent of Thais do not have savings; 56 percent are incapable of saving for use in their old ages while 52 percent of the aging people admit they cannot depend on themselves.

The prime minister said that the government had set up a national savings fund and the fund was in the process of accepting memberships. Response to the fund is satisfactory with the number of memberships exceeding the set target and 70 of them are farmers. And 95 percent of members are over 30 years old.

He expected the memberships of the fund to reach 1.5 million next year. He said he wanted to see more people joining the fund.

The prime minister urged people who have not benefitted from any welfare funds from the government join the fund for their own benefits. Those who are over 60 can join the fund until next September 25.

More details about the fund and how to join its membership can be obtained from the Bank of Agriculture and Agricultural Cooperatives and Government Savings Bank.

Source: http://englishnews.thaipbs.or.th/pm-urges-thais-to-start-saving-and-to-make-saving-a-thai-culture

-- Thai PBS 2015-11-01

[Chang_paarp]

Savings usually come second to subsistence, need to address that part of the equation first. Might want to address the need to keep up with the neighbours culture as a second tier strategy.

[jaltsc]

"Prime Minister Prayut Chan-ocha urges Thai people to start saving and to make savings a Thai culture."

A bit out of touch with the commoners whose choice would be to spend their earnings on food and shelter or starve and save that money. Not everyone has the ability or opportunity to be the part of Thai Culture that shakes down motorists and business owners for enough money to save. Of course, I doubt they would give up that other part of Thai Culture which takes up a big chunk of their income...the Mia Noi.

[worgeordie]

By the time the majority of Thais pay their debt off,there

will be little if anything to save.

I suspect too many don't know how to manage a budget,

which you need to know before you even try to start saving.

regards Worgeordie

[LannaGuy]

How can the common people save when the results of their production goes to feed and fuel the Ferraris of the mega-rich few ?

[clockman]

Thais only live for the day and moment.

[trogers]

"Prime Minister Prayut Chan-ocha urges Thai people to start saving and to make savings a Thai culture."

A bit out of touch with the commoners whose choice would be to spend their earnings on food and shelter or starve and save that money. Not everyone has the ability or opportunity to be the part of Thai Culture that shakes down motorists and business owners for enough money to save. Of course, I doubt they would give up that other part of Thai Culture which takes up a big chunk of their income...the Mia Noi.

Food and shelter? What I have seen is booze and gaming upon receiving their pay, both parents...

[Pimay1]

"Prime Minister Prayut Chan-ocha urges Thai people to start saving and to make savings a Thai culture."

A bit out of touch with the commoners whose choice would be to spend their earnings on food and shelter or starve and save that money. Not everyone has the ability or opportunity to be the part of Thai Culture that shakes down motorists and business owners for enough money to save. Of course, I doubt they would give up that other part of Thai Culture which takes up a big chunk of their income...the Mia Noi.

Food and shelter? What I have seen is booze and gaming upon receiving their pay, both parents...

Valid point. My experience is when Thais win the lottery today, they will have a party tonight and tomorrow the money is gone.

[riki]

Most of the Thais live on credit and have not got the money to save. this guy lives in a differenht world

[Thian]

We never visit a mall in BKK around payday time, it's far too busy then....also on the roads and in restaurants.

[EnzoRippo]

Beside the "psical" style of the guy, he's asking the right question.

"Citing the findings, he said that 41 percent of Thais do not have savings; 56 percent are incapable of saving for use in their old ages while 52 percent of the aging people admit they cannot depend on themselves."

Should the poor people with low salary save for their own old age?

This is ridiculous to think so and, anyway, impossible.

A society with gernerous people should work on SOLIDARITY: the wealthiest pay for the poorest thanks to social schèmes. The signal sent today by the Junta Leader is a very bad one for the populace: it means he gives up any social Policy and will as them to take care of them selves. The rich Bangkokians are NOT ready to pay taxes in the benefit of the whole Thai population.

[chainarong]

It might be impertinent to say this Prime Minister , but the majority of your people don't make enough money to even remotely stop being in poverty , you talk of saving is bunk ,your reasoning and figures only tell a small piece of the story , you have done no research except on bank figures , do another on how many live in subject poverty ,I am talking outside of BKK , it is comments like these that certainly indicates that the Junta are certainly out of touch with reality ........

[terryp]

this man is a complete baffoon, guess when you have 500 Billion baht saving is not a problem, i remember when he was a hired killer (Army) and he banned one of thailand most famous meal Krapow Moo because HE didnt like the smell

[jerojero]

Horribly pathetic edict to a population where vast majority can choose to eat or save. Duh... Stupid General!

Edited November 1, 2015 by jerojero

[zaphod reborn]

Fix the economy, then you can preach about savings.

[SaamBaht]

Do this mean Thailand is going to be a savings hub?

[waldroj]

I am truly surprised he did not use himself and other junta cronies as examples of how to secret away a few extra baht for a rainy day.

[TheCruncher]

Can't wait for his next announcement, probably by the end of next week, that Thais now are the biggest saving culture in Asia.

[SoilSpoil]

He does have a point, doesn't he?

[NongKhaiKid]

The two extremes of Thailand, the haves and the have nots with the former having no idea how the latter live.

" Equality, I've spoke the word as if a wedding vow,

Ah, but I was so much older then,

I'm younger than that now. "

- Bob Dylan

[z42]

Well he's certainly been quite busy saving his earnings over the years hasn't he. Disclosed assets of 600m or so isn't it. To get the masses onside he should have given them some advice as he is very clearly an expert on matters of saving for the rainiest of rainy days...........

[ratcatcher]

this man is a complete baffoon, guess when you have 500 Billion baht saving is not a problem, i remember when he was a hired killer (Army) and he banned one of thailand most famous meal Krapow Moo because HE didnt like the smell

Not many buffoons have huge savings, but are you sure that he has savings of 500 BILLION. After a while, it all becomes just a load of zeros. Million, billion, trillion, zillion...........

I suggest he's closer to B600 million.

[h90]

"Prime Minister Prayut Chan-ocha urges Thai people to start saving and to make savings a Thai culture."

A bit out of touch with the commoners whose choice would be to spend their earnings on food and shelter or starve and save that money. Not everyone has the ability or opportunity to be the part of Thai Culture that shakes down motorists and business owners for enough money to save. Of course, I doubt they would give up that other part of Thai Culture which takes up a big chunk of their income...the Mia Noi.

We know a motorbike taxi around the corner. He lives modest, OK sometimes he drinks. His wife sells food.

He saves the money and buys land in Esaan from people who are in debt. Incredible cheap. He is not the youngest anymore and bought already a lot and let some labor work on the rice fields, from the profit it he buys more land.

He has a old motorbike, old mobile phone, no debts a lot land and some cash on the bank to direct buy the next piece when there is a cheap offer.

So it is possible for commoners. He has no good education but try to get one for his son......The low income people in the office have all the time a new smartphone often a new motorbike, etc.....enough space to save money.

[johng]

He could give every Thai person 1 million baht ( from his personal fortune )

and still have over 500 million left........ would everyone be "happy" then ?

[Broken Record]

this man is a complete baffoon, guess when you have 500 Billion baht saving is not a problem, i remember when he was a hired killer (Army) and he banned one of thailand most famous meal Krapow Moo because HE didnt like the smell

Not many buffoons have huge savings, but are you sure that he has savings of 500 BILLION. After a while, it all becomes just a load of zeros. Million, billion, trillion, zillion...........

I suggest he's closer to B600 million.

He done really well to save up that amount of money on a Soldiers pay likewise the Police Chiefs seem to have a great savings plan that accumulates hundreds of millions of Baht out of a Policeman's pay.

He should just come clean on how he and all other Generals manage to amass such wealth as an example to the rest of the Thai population, maybe they can use the same savings plan as he did.

Edited November 1, 2015 by Broken Record

[JAG]

It might be impertinent to say this Prime Minister , but the majority of your people don't make enough money to even remotely stop being in poverty , you talk of saving is bunk ,your reasoning and figures only tell a small piece of the story , you have done no research except on bank figures , do another on how many live in subject poverty ,I am talking outside of BKK , it is comments like these that certainly indicates that the Junta are certainly out of touch with reality ........

I don't suppose he is aware that people outside Bangkok use money.

[shirtless]

Most Thais are poor managers of money, then they earn very little in comparison to the cost of living, how are they meant to save , Even in western countries many have no or insufficient savings and very little disposable income due to high taxes and corporate greed.

[dotpoom]

I have noticed that the "concept" of saving to many Thai people I have met ( working class) is unheard of. Even let's say, after getting a rose of 2,000 By, when I suggested saving 1,000 of it or even 500 by, they looked at me like I had two heads.

Edited November 1, 2015 by dotpoom

[Bluespunk]

Did they miss the word "face" from that headline.

[recom273]

This guy is full of it .. I don't imagine Thai people even giving a toss as time goes on, it's something different every week.

Last week he was urging people not to 'wait for the government' to solve the impending water crisis and to dig their own reservoirs .. Really ? I thought that was the governments job.