Expats living on 20000baht per month

[Owen` 2]

Interesting TT.

 

How do they get insurance? Will not the insurance companies declare the value to be decreasing each year and cover it only for that amount?

[torrenova 644]

As ever, the 2 things that cost you are beer and women. after that, costs for everything else are quite low.

[ting_tong 63]

Interesting TT.

 

How do they get insurance? Will not the insurance companies declare the value to be decreasing each year and cover it only for that amount?

good question, I dont know if they have full coverage.

 

I know for my vehicle, its similar to USA's no fault.......but with a thai twist.........its your fault insurance.....being a falang, you are automatically wrong in an accident.

[Owen` 2]

A thought re: low depreciation on cars.

 

This is a big deal in the world of leasing.

 

When you lease a car, you are paying for:

 

1) interest on the loan that funds the decline in value of the car over time

2) the amount of decline in the value of the car

 

I have no idea if leasing is even offered in Thailand, but if it was it would

look something like this in a low depreciation environment:

 

The car costs 1.2 million baht. You're going to drive it for 2 yrs and when you turn it back in it will be worth 1.1 million baht. So all you're financing is 100,000 baht over two years at maybe 8% interest. So 120,000 baht is your two year's rent on that car. That's 10% of the original value of the car. They make 8% on the 100K baht loan. That's their source of income.

 

The upside on this would be that you get to keep the remaining 90% of the car's value in the bank at maybe a 5% savings rate (in contrast with buying the car outright). That's 1.1 million at 5% or 55,000 baht per year over the 2 years or 110,000 baht (non compounded). Yes, it almost funded the lease payment.

 

That's why this caught my attention. If there's no depreciation on cars in Thailand, then leasing them should be pretty damn cheap. And since the leasing company can't make much money -- I'm suspecting it's not popular.

[wannabeexpat 0]

I think my motorbike was 230 or 440 baht a year?

Thanks ting tong. Did you miss out a zero. Sounds too cheap( its not often I say that).

I agee, I wouldnt ride a bike in Pattaya.Its in case I stay in Chiang Mai. Thinking of staying there or Bangkok and maybe teaching enlish part time.

[Gary 4,118]

After living here for about 6 months I decided that rent would be my biggest variable. I looked long and hard to find a condo I liked. I refuse to live in a shoe box and at the very least wanted a separate bedroom. My friends told me that the condo I found was too expensive but that's what I wanted. It is 60 square meters in a very nice complex. I really didn't care if it appreciated or not since I bought it for my security. Since I have bought it, it has nearly doubled in value. I no longer live in the condo and rent it cheap enough that my renters won't find anything better for the price. I get a return of about 6.5 percent. I get a better return than that from my investments BUT that condo is like a security blanket for me. I get along very well with my Thai wife but things could turn to shit. It's not likely but I have been here too long to say it WON'T happen.

 

I lived in a pretty nice apartment that was a little smaller than my condo. I wanted to hang a clock in the kitchen and the landlord would not allow it. I wanted a vent in either the wall or the front door so I could get some air flow through the apartment off the balcony. Again a no go. I can do whatever I like to my OWN condo without having to ask anyone. That alone was worth a lot to me.

 

I think to live cheaply and comfortably you will have to spend some money to get started. I have the condo, two vehicles and a motorcycle. One pickup truck is in my name as well as the condo so if things would turn to shit I can pick up and leave within a day. She can have the other vehicle and the motorcycle. I remain a cynic and am too old to lose what I have. I CAN'T make it back. I believe that you should spend no more on your wife than you can afford to walk away from. My finances are my business and all she has to know is that the money comes in every month. I buy whatever toys I want and can easily afford them. I am spending about 25 percent of what I could afford to spend and live exactly as I choose to live.

 

Things were tight when I first came over because that was prior to my pensions starting. I was living off my savings so I was a little nervous about buying any big ticket items. After the dust settled and I knew for sure what my living costs would be, I was able to buy the condo and a new truck. You have to have a death wish to drive a motorcycle in Thailand. I did have a Kawasaki Boss and a couple close calls made me decide that I certainly didn't want to die on a Thai road and have my remains hauled off in the back of a pickup truck.

 

My Thai wife has a western style two bedroom house up country. I have westernized it further to suit the way I want to live. I have also built a two meter high wall around two rai of land and also built myself an eight by eight meter garage/workshop. The main thing I would have regrets about leaving is my Golden Retriever dog.

 

I am not a wealthy man by any means and would have to live like a pauper in the states BUT I can live VERY well here on a fraction of what I can afford to spend. My only problem at this point is that it looks like my kids in the US are going to inherit some money and that is NOT in my plans.

[mbiggs 1]

Living in a place and comming to a place on vacation are two different things, I can manage to live on the equivelent of 45,000 bhat a month in Sydney. I do that two to three months before comming to LOS so I save the rest for my vacation.

 

I am sure Thailand must be a hell of a lot cheaper than Australia to live.

[ting_tong 63]

Thanks ting tong. Did you miss out a zero. Sounds too cheap( its not often I say that).

I agee, I wouldnt ride a bike in Pattaya.Its in case I stay in Chiang Mai. Thinking of staying there or Bangkok and maybe teaching enlish part time.

I am quite sure its that cheap, they cover band aids and the scrubbing of road rash when you eat it on the road.

 

They also cover if you hit someone.

 

Its thailand, everything is cheap.

[Gary 4,118]

Interesting TT. 

 

How do they get insurance?  Will not the insurance companies declare the value to be decreasing each year and cover it only for that amount?

Car insurance; All the companies insure about the same way. First class is full coverage and there is no deductible. No deductible means that even small bumps are turned in and that makes it expensive. The vehicle is normally insured at a fixed replacement value. You can get the collision and theft portion cheaper by lowering the amount they pay for replacement. This normally costs about 20,000 and up per year.

 

Second class covers no collision but does cover fire and theft but unfortunately most companies do not offer this class, at least I couldn't find it.

 

Third class is a bargain. Good liability coverage but no collision, theft or fire coverage. This coverage will cost less than 5,000 baht per year. That's what I have on my vehicle. The one in my wife's name has first class because she drives for shit.

 

NOTE - The Thai government requires the minimum insurance coverage. That covers injuries to people who may be injured and you are at fault. That is cheap but you better hope no one is badly injured.

 

You SHOULD have auto insurance here because if you don't an accident is likely to be your fault whether it is or not. If you have insurance you call the insurance company and since they won't pay if it is NOT your fault, you are protected from any bullshit.

Edited July 23, 2006 by Gary

[Chivas 0]

As regards Car Insurance have just renewed my first class cover on a Toyota Vios after first year was thrown in free from manufacturer.

 

Cost was 18,780 for a car in the showrooms at around 600k at one year old.

This is only marginally cheaper insurance than what I pay for a similar sized/value car in the UK.

 

Chivas

[jacko 8,813]

I'm sure people certainly can and do live on 20,000 baht a month but I personally cannot see the point of being in Los (apart from warm weather) on the equivalent of £65.93 a week.

 

 

As you start to get seriously older PROPER medical cover alone will take this amount from you ??

 

IMO and I do respect that others have a different outlook but the minimum I would be happy with is 70,000 a month and I would need to be sure that this amount is "inflation/index linked" by whatever method, before I considered dropping anchor.

 

 

Chivas

First thing to get out of our head is this £65.93 / week idiocity.

 

That, in the UK, is probabaly 1/3 of a minimum weekly wage, whereas here (Thailand) it is about 4x a small weekly wage. My point is, the buying power of your money here is far greater.

 

There are plenty of reasons to be in Thailand on a minimal amount of money, other than the weather. It is a less stressful, relaxed, non-interfering country. I would also say that here, freedom, so cherished in the West, but hard to come by, is a reality.

 

As someone stated, give up the farang orientated entertainment, smoking and ringing the bell, makes life here cheap. There are people posting here having pretty good lifestyles for less than you state (70k/month).

 

You are right that medical cover here will cost you as you age.....maybe 30,000 - 50,000 baht/ year.

 

Nothing wrong with setting your sights on a high number though, leftover cash can always be useful.

[AZZZEY68 0]

I have bought 2 apartments on buy to lets in the uk mort 433 pounds insurance 33 pounds rent 800 pounds i intend on buying up 3 more of these off plan then its wheels up at 38 years old.The uk is only good for making cash and watching football lifes a beach.

[wannabeexpat 0]

There are plenty of reasons to be in Thailand on a minimal amount of money, other than the weather. It is a less stressful, relaxed, non-interfering country. I would also say that here, freedom, so cherished in the West, but hard to come by, is a reality.

I agree. I will be downgrading my accomodation and possibly wont have a car in los, but my quality of life will be far greater.

[jacko 8,813]

I agree. I will be downgrading my accomodation and possibly wont have a car in los, but my quality of life will be far greater.

Having a car is a bit of a status symbol, particularly in Thailand, and the TGF may put pressure in that direction. I get by without, my neighbour's car is collecting dust...I see it move one a week. Driving in the Thai cities is a major pain in the ass....although I expect one would get used to it. I get around on a little motorcycle, occasional trips, I rent a car.

 

Perhaps you have a superior place at home, but downgrading accommodation I do NOT believe is necessary. Move away from the tourist areas, and very nice houses can be rented for 15-30k.

[Soi7 1]

I as well have a little Motorbike that takes me all the places I need to go and on 100 Baht worth of Petrol every 2 weeks

[dave_boo 0]

I as well have a little Motorbike that takes me all the places I need to go and on 100 Baht worth of Petrol every 2 weeks

Hey, I'm going to be in country the end of August. If you know where we can catch a few Tigers games, I'll bring the booze.

[dthomasss 1]

All these figures are a bit absurd... I suppose it would work if you never purchased toilet paper, toothpaste, soap, razor blades etc etc.. or if you never had to buy any medication, or never had to go to the doctor, or never had to go the dentist, or never traveled anywhere, or never went to the movies, or never bought a book, or never bought clothes or shoes, etc etc ad nauseum..

 

I have lived in LOS for 4 years and have a modest but decent lifetsyle on approximately 4x the original figure posted. Of course it is possible to exist on 20,000. You can exist on 10,000 if you live a totally thai-style life, but what is the point in doing that? Just to be able to say you live in Thailand but can't enjoy the original reasons for wanting to live here in the first place?

 

I am not refering to drinking and whoring, but rather to living a more worry-free life. Try doing that on 20,000 a month!

[jacko 8,813]

All these figures are a bit absurd... I suppose it would work if you never purchased toilet paper, toothpaste, soap, razor blades etc etc.. or if you never had to buy any medication, or never had to go to the doctor, or never had to go the dentist, or never traveled anywhere, or never went to the movies, or never bought a book, or never bought clothes or shoes, etc etc ad nauseum..

 

I have lived in LOS for 4 years and have a modest but decent lifetsyle on approximately 4x the original figure posted. Of course it is possible to exist on 20,000. You can exist on 10,000 if you live a totally thai-style life, but what is the point in doing that? Just to be able to say you live in Thailand but can't enjoy the original reasons for wanting to live here in the first place?

 

I am not refering to drinking and whoring, but rather to living a more worry-free life. Try doing that on 20,000 a month!

That's another saving.........

 

Hardly ever buy any clothes.......shoes?...you mean 25 baht flip-flops?

 

Toilet paper, if it wasn't for the TGF I would stop buying that and use just the hose thing!

 

toothpaste and soap are cheap items, and I don't need to buy them very often....

 

I always bring a shit load of razor blades from the UK, as the ones here are sold in silly little packs, and the blades are not sharp or long lasting.

 

books...I trade my read ones in for fresh, pretty cheap.......some bars swap them for free too....

 

doctors and dentist......well I do buy tootpaste and rarely am sick enough to warrant a doctors visit.....2 times in maybe 4 years......

 

Movies...shit why do I want to listen to a load of Thais talking on their telephones, I rent the DVD for 30 baht!

 

Don't get me wrong, I live on more than 20k/month...my rent is nearly that...

[sinkorswim 80]

I still cannot see how it is done. This month I have spent 45000baht, BUT I have not been out I also dont smoke and I eat Thai food every day. I still spent 45000baht so I cant get how some spend 20000baht and manage to go out each week???? I would like to try it for 1 month to see if I have the self disipline but I think I would go stir crazy after 1 week.

[sinkorswim 80]

Driving in the Thai cities is a major pain in the ass....although I expect one would get used to it. I get around on a little motorcycle, occasional trips, I rent a car.

I understand that.....I hate driving in this city. I want to sell my car and then just get a motorbike or take taxis if I need to go anywhere.

[Soi7 1]

Hey, I'm going to be in country the end of August.  If you know where we can catch a few Tigers games, I'll bring the booze.

Wish I 1did would be nice to see them win a few on the way to the central division Flag

Edited July 24, 2006 by Soi7

[wannabeexpat 0]

This month I have spent 45000baht, BUT I have not been out I also dont smoke and I eat Thai food every day. I still spent 45000baht so I cant get how some spend 20000baht and manage to go out each week???? I would like to try it for 1 month to see if I have the self disipline but I think I would go stir crazy after 1 week.

I think the people that live on 20,000 baht own their own properties. If you take your rent off the 45,000 baht though, there is still a 16,000 difference.

Your figures have me worried because I was hoping to only spend 45,000 per month including sanuk. Can I be nosey and ask what incidentals you spend 23,500 baht on.

[wacmedia 277]

I agree. I will be downgrading my accomodation and possibly wont have a car in los, but my quality of life will be far greater.

 

Hi,

 

Somethink to factor in in your favour is the ladies. You won't get the same standard elsewhere as you get older. About condo's, I think if you are on a budget it would be best to buy and get that variable out of the equation like Soi7. If you have plenty of money possible large increases in rents won't be a worry for you, but would be for somebody on a tight budget.

[Soi7 1]

Hi,

 

Somethink to factor in in your favour is the ladies. You won't get the same standard elsewhere as you get older. About condo's, I think if you are on a budget it would be best to buy and get that variable out of the equation like Soi7. If you have plenty of money possible large increases in rents won't be a worry for you, but would be for somebody on a tight budget.

Owning My own Place and also motorbike really keeps costs down

[Gabor 296]

Quality life is different for every one. In Hungary I live in my 3 floor house, roaming as a ghost, in Pattaya I live in my condo ( 42 sqm studio ) and I feel much more living a " quality life ". I hate the elegant restaurants, even at home like to eat on the market and squirming in the fine places to wait a half our for my meal and using properly the forks and knifes. ( of course I can, as sometimes must "enjoy" the finest restaurants in the city, because of the work or family ) I hate dressed "properly " and even more I was working out, that on my workplace no one says me a word, when I'm appear in a Pattaya bar T-Shirt, shorts and slipper. ( working for the national broadcasting company as an on-air promotion consultant ) Hahh... Pattaya is a great place Golf... for me it is like for the americans the soccer. To be active... I like to active do nothing.. have a good book and lie in the shadow of the palms on the beach is more, than enough. I travelled already more, than the half of the world, why to discover every corner of Thailand ? I had the must to see programme. I "enjoyed" many-many high class parties, met world famous persons, why do I wish to meet more sophisticated folks, than some bargirls, Pattaya mongers and my friends in Pattaya whom we have a common theme ? Why own a car or even a motorbike, when the bahtbuses are available and if needed you can rent a car with a driver ? And so on.. the list is loooong. The pricey part of the life is the nightlife... if you have a live in it can be a little bit... a little bit cheaper, but boring. However there are sometimes good to have a live in.

A note. I don't living in Pattaya, but every year spending there 3 months, which is the 1/4 part of my life.

Edited July 24, 2006 by Gabor