Thoughts on budgeting for living in Thailand long term ...

[joe552]

Brad, thanks for completing my aphorism or whatever it was. 'Cutting your cloth to suit your measure' is what I was trying to say (and it only took 24 hours for me to remember, and me with a TEFL Cert!). Maybe posting after a couple of drinks is not such a good idea even for native English speakers!

Thanks again, Joe

[Smiles]

1. Due to the teeth-knashings surrounding my (apparent) incredibly low monthly electricity bill I gathered the electric bills for the last 6 months together and actually did the math by adding them all up and dividing by 6. I had looked at them and done a quick best-guess estimate of the average for the purpose of the original post, but after the posts above it seemed only right to get an exact figure.
   
   I was quite close with the 300 baht figure, but I admit I was a tad low. Now that I've done the math, the monthly average electric charge must be upped to 364 baht. A budget-busting increase for sure.
   
2. I neglected water costs when making up the Food & Booze item. We buy bottled water by the 6X750ml (20 baht) method and go through 2 of these a week (not counting water 'away' ... i.e. restaurants, driving, beach etc). That's 200 baht a month (giving some leeway for a few extra water runs, which can easily happen).

Cheers ...

[GBMGymnast]

I would personally like to thank you for your post. I believe that it's important to plan early. As another poster stated .... I am about 10 years away from retirement as I retire at 50 and I turn 39 in a few days. But what I have decided to do is purchase (which I did on my last trip to Thailand), I purchased in the Krisda Golden Condotel Cliff & Park located in Banampher which is only about 15km from downtown Pattaya. I prepaid the association fee and electric bill (which is static) and it cost 10,120.80 bht for six months or 1,686.80 per month. Granted not being there and the power being turned off at the panel it's high, but when I am there two months each year on vacation I think it would be a steal and once I live there most of the year it will be a real deal. Granted this is a modest 17th floor 80sqmt 1 bedroom 1.5 bath condo (after remodel). Recently at my current salary my pension (if I don't go any further in my career) would be 315,000bht per month based on a 35 to 1 exchange rate my medical is also provided via blue cross/blue shield which has a deal with Bumrungrad Hospital in BKK. My thought was to purchase now ( I got a great deal) have it paid off in a year or two ( I used my credit card) that way my monthly expenses would be minimum and would allow for travel play and philanthropy (I would like to found a school or scholarships toward education) . I have to admit that I love to cook at home, so I don't believe that I would fall into the go out and eat trap, however I can see spending more money in food as I love to entertain, but I don't know how that will go in such a small space, only time will tell. Nevertheless, your numbers seem very reasonable to me and I hope that they hold for when I make Thailand my home.

[x in pattaya]

You are probably already aware that if you have a verified pension you do not need the full TB 800,000 in the bank, or to have it there for three months, only the balance depending on your pension. Just a passing thought ...

I have a Type A personality. Lest anything think that sounds like bragging, one summary is:

Type A individuals can be described as impatient, excessively time-conscious, insecure about their status, highly competitive, hostile and aggressive, and incapable of relaxation.

As a consequence, if there's more than one way to do something, I'll [attempt to] do all of them just to cover all bases and insure success. It's also a predisposing risk factor for one version of the eye problem I have.

Therefore, I get a letter from my embassy verifying the amount of my pension & social security as well as confirming letters from the pension payer & SS. I also maintain a 3 month bank balance over B800,000 and obtain a certifying letter from my bank manager. (And when I go to Immigrations I carry along photocopies and originals of all related bank transfers, my condo deed and just about anything else that could conceivably be requested ... though they've never been required).

I realize this is overkill, but the last time I did my retirement visa extension I sailed through in 10 minutes with no questions asked. If there were a third option I'd probably incorporate that too and aim for 8 minutes.

I've lived in Africa, Pakistan, the UAE and Thailand now for a total of almost 35 years. A good deal of one's life in the third world is spent in the quest of one rubber stamp or another, all of which probably put the icing on the cake of my Type A personality. Be Over-Prepared is my motto.

[Smiles]

" ... Thanks for the run down on your expenses. I notice that you live with a partner, and that this seems to reduce some of your costs and increase others. I would be interested in your opinion on what would happen to your running costs if you lived alone. This might mirror the situation of a larger proportion of the board readers ... "

Good questions. Certainly the food amount would be reduced, possibly by half as I'm paying for 2
The laundry would be perhaps a third less. Travel costs (within Thailand) a bit less, or a lot less as I might not travel so much. Rent would be the same. Electric, TV, water the same.

Living with a steady partner is reall all about good mental health, and as such, keeps me healthier (no doctors or hospitals!), happier, we go to bed earlier so there's a saving there in terms of bars, drinking, fuck shows etc etc, and he cooks quite a bit (especially breakfast & lunch) so a saving there.
I hardly think anymore about the 'costs' of having a good relationship. Not saying that there aren't any, but they tend to be trivial if they are measured in baht.

Cheers ...

[x in pattaya]

X,

Thanks for the link and explanation, although I think that there are clearer definitions out there somewhere. However it seems to have beaten our experts here.

I suppose a more concise though not especially all-encompassing definition would be:

sarcasm: A cutting, often ironic remark intended to wound.
irony:The use of words to express something different from and often opposite to their literal meaning.

[x in pattaya]

I have to admit that I love to cook at home, so I don't believe that I would fall into the go out and eat trap, however I can see spending more money in food as I love to entertain.

Depending on your view of Thai food, I wouldn't consider going-out-to-eat to be a "trap" here. I virtually never go to tourist type Thai or western food restaurants. They're usually overly expensive and the Thai food is dumbed-down for supposed farang palates. But if you start to explore the hole-in-the-wall restaurants or those that are just some chairs & tables on the pavement in front of shops you'll soon find a number of excellent places to eat which are usually cheaper than if you attempted to cook for yourself. If you don't care for the ambience, which in some cases has its own charm but in others leans heavily on tourist bus exhaust fumes, you can usually get the food bagged and bring it home.

I've done my own cooking most of my life, but here I only have a couple of electric woks, a microwave and rice cooker. There's a 101 things to eat "on the street" within a 5 minute walk from my condo, so why bother with the heat, mess and expense of cooking ... and no farang will ever match a good Thai cook when it come to making Thai food.

[GBMGymnast]

I have a culinary degree, so I can give a lot of Thais or anyone else a run for their money when it comes to Culinary Arts. :-) But, I was commenting on someones comment about it being a trap. I know of many many great Thai restaurants that are very inexpensive. I just like to cook for myself and friends normally. No disrespect intended to any Thai or Thai restaurant.

[Gone Fishing]

My thought was to purchase now ( I got a great deal) have it paid off in a year or two ( I used my credit card) ...... Nevertheless, your numbers seem very reasonable to me and I hope that they hold for when I make Thailand my home.

So, presumably, you haven't managed to sell the $2,000,000 yacht you had for sale earlier this year then?

[GBMGymnast]

Actually she did sell in June, but not for 2M she sold for 1.5M. But not sure what that has to do with this thread?

[Brad the Impala]

X,

Thanks for the link and explanation, although I think that there are clearer definitions out there somewhere. However it seems to have beaten our experts here.

I suppose a more concise though not especially all-encompassing definition would be:

sarcasm: A cutting, often ironic remark intended to wound.
irony:The use of words to express something different from and often opposite to their literal meaning.

I like that simple definition. Thank you

[anakot]

You are probably already aware that if you have a verified pension you do not need the full TB 800,000 in the bank, or to have it there for three months, only the balance depending on your pension. Just a passing thought ...

I have a Type A personality. Lest anything think that sounds like bragging, one summary is:

Type A individuals can be described as impatient, excessively time-conscious, insecure about their status, highly competitive, hostile and aggressive, and incapable of relaxation.

As a consequence, if there's more than one way to do something, I'll [attempt to] do all of them just to cover all bases and insure success. It's also a predisposing risk factor for one version of the eye problem I have.

Therefore, I get a letter from my embassy verifying the amount of my pension & social security as well as confirming letters from the pension payer & SS. I also maintain a 3 month bank balance over B800,000 and obtain a certifying letter from my bank manager. (And when I go to Immigrations I carry along photocopies and originals of all related bank transfers, my condo deed and just about anything else that could conceivably be requested ... though they've never been required).

I realize this is overkill, but the last time I did my retirement visa extension I sailed through in 10 minutes with no questions asked. If there were a third option I'd probably incorporate that too and aim for 8 minutes.

I've lived in Africa, Pakistan, the UAE and Thailand now for a total of almost 35 years. A good deal of one's life in the third world is spent in the quest of one rubber stamp or another, all of which probably put the icing on the cake of my Type A personality. Be Over-Prepared is my motto.

Thanks for your post X in Pattaya

Ditto moi.
Good to see I'm not alone!

[Curious]

I have a Type A personality.

Anally retentive?

[x in pattaya]

I have a Type A personality.

Anally retentive?

For the right price, big boy, and to cater to your special needs, I could be anally expulsive.

[Gone Fishing]

Actually she did sell in June, but not for 2M she sold for 1.5M. But not sure what that has to do with this thread?

Nothing at all. I was simply mildly amused that a 38 year old, with a culinary degree but working in law enforcement (but not a policeman), on a salary of $100,000 a year, could afford to moor and maintain a $2,000,000 yacht in California and buy his apartment in Pattaya on a credit card - nearly as amused as I was to note that you had discovered the fountain of youth, having been 41 (9 years off retiring at 50) in February last year!