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Saving Money in Thailand: Possible?

 
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skppen67



Joined: 02 Nov 2005
Posts: 6

PostPosted: Fri Jan 13, 2006 3:28 pm    Post subject: Saving Money in Thailand: Possible? Reply with quote

Wondering what the prospects are for a newbie teacher in Thailand to put some money away for travel purposes. I did receive a reply indicating a salary of 700-900 $US would be realistic and that you can save around $200 a month. Yikes! I know $200 goes further in Thailand than here in the States, but that still doesn't seem like much to put away on a monthly basis. As a newbie, could I realistically expect to do any tutoring to supplement a salary? If saving money is of primary concern, am I better off teaching in a place like Korea, Taiwan, or Japan? Will the higher salaries really outweigh the higher costs of living there? I'd hate to think that living and working in Thailand would make it LESS easy to travel in Thailand (due to money concerns), but if that's the case I'd like to know.
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maximmm



Joined: 04 Dec 2005
Posts: 59

PostPosted: Fri Jan 13, 2006 4:47 pm    Post subject: Reply with quote

Dunno about Thailand, but as I understand it, indeed you could save more money in other countries, as opposed to Thailand. I'm currently working in Korea and saving a thousand dollars per month is fairly easy here, and I drive a car, which means extra expenses. I get only 2 weeks off per year though.
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tedkarma



Joined: 17 May 2004
Posts: 1598
Location: The World is my Oyster

PostPosted: Fri Jan 13, 2006 9:49 pm    Post subject: Reply with quote

I've worked in Korea, Saudi, Taiwan - in addition to Thailand.

Generally speaking, you can SAVE more per month in each of those countries than you can EARN in Thailand.

But. . . in the end - Thailand has the highest quality of life of all of them - thus its attraction.

I think you would find it difficult - unless you are extremely frugal - or land an exceptionally well-paying job - to save even US$200 a month here.
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Kent F. Kruhoeffer



Joined: 22 Jan 2003
Posts: 2129
Location: 中国

PostPosted: Sat Jan 14, 2006 2:04 pm    Post subject: tedkarma's right Reply with quote

Quote:
If saving money is of primary concern, am I better off teaching in a place like Korea, Taiwan, or Japan?



YES, absolutely.


Thailand is (almost) the last place on earth I'd

recommend to anyone wishing to save money.


There are 2 main reasons for this:


A) salaries are just too low to begin with, unless

you're qualified to teach at the International Schools

or willing to work unGodly long hours & weekends.

&

B) there are too many ways to blow that measly

$200 you had thought you were going to save.


It's just a lot smarter to do Thailand AFTER you've spent

a year in Korea, Japan or Taiwan putting $ in the bank

and/or paying off any outstanding debts you have.


You can live well on a Thai TEFL salary if you're in the 40K range,

but you'll most likely spend every Baht of what you earn -

because there are so many places to spend it!




note: 40K Baht = roughly $US 1,000
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Solar Strength



Joined: 12 Jul 2005
Posts: 557
Location: Bangkok, Thailand

PostPosted: Sat Jan 14, 2006 5:46 pm    Post subject: Reply with quote

Yeah, I love taking my Y500,000 paycheck from Japan and going to Thailand and living like a king.

I work in Japan but love to take my vacations in Thailand or the Philippines.
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wix



Joined: 21 Apr 2003
Posts: 250
Location: Earth

PostPosted: Sun Jan 15, 2006 4:16 am    Post subject: Reply with quote

I agree with most of the posts above. You can't really save a significant amount of money teaching in Thailand. You can live well though as living costs are low. You will also have enough money to travel in Thailand and neighbouring countries like Laos and Malaysia.

But if you want to consistently save hundreds of dollars a month go to Taiwan, Japan, Korea or the Middle East.
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kenkannif



Joined: 07 Apr 2004
Posts: 550

PostPosted: Sun Jan 15, 2006 6:08 am    Post subject: Reply with quote

I know some people that save here, so it is possible. But as others have said there are far better places to save money.
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tedkarma



Joined: 17 May 2004
Posts: 1598
Location: The World is my Oyster

PostPosted: Mon Jan 16, 2006 2:31 am    Post subject: Reply with quote

Ken is right (as always!). Really does depend on your lifestyle. Some people can save anywhere - some can save nowhere.

When I was a volunteer in Africa (Botswana 89-91) - some volunteers actually saved money on the small stipend we were paid - I spent thousands from my own pocket.

Your lifestyle will determine what will work best for you.
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skppen67



Joined: 02 Nov 2005
Posts: 6

PostPosted: Mon Jan 16, 2006 3:44 am    Post subject: Reply with quote

Thanks to all who replied. It sounds like Thailand is NOT an ideal place to earn and save a substantial amount of $. For those of you in Thailand or elsewhere, do you find time to travel or doesn't your schedule allow it? Finding time to travel, even weekend or two-day getaways, would be important to me. Am I being realistic here or am I looking to work in fantasyland? BTW, tedkarma, great website. Sounds like you've really made a success of the teaching abroad gig.
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Sgt Killjoy



Joined: 26 Jun 2004
Posts: 438

PostPosted: Mon Jan 16, 2006 6:09 am    Post subject: I agree Reply with quote

You can save $200 a month if you get 30,000 baht per month and you watch your expenses AND if you try to pick up some extra work.

Back in 2000, Stickman put on his site that you needed 20,000 baht per month AFTER you paid your rent and utilities to have a decent life in Bangkok. I think that has gone up to 25 to 30k now. 30k is about the lowest salary you can make and still get by with a decent standard of living.

If you want to save $200 a month, you are gonna need to be making 40,000 a month. and that is getting to be the high end of salary scale.
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Gordon



Joined: 28 Jan 2003
Posts: 5309
Location: Japan

PostPosted: Mon Jan 16, 2006 7:20 am    Post subject: Reply with quote

skppen67 wrote:
BTW, tedkarma, great website. Sounds like you've really made a success of the teaching abroad gig.


I think he has made it a success because he hasn't thought of it as a "gig". A gig is something you do until something decent comes along, IMO. If you take something serious, get the proper qualifications, you will be surprised at how professional this "teaching abroad gig" can become.
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joe beets



Joined: 11 Apr 2005
Posts: 37

PostPosted: Wed Jan 18, 2006 1:42 pm    Post subject: Reply with quote

skppen67 wrote:
Thanks to all who replied. It sounds like Thailand is NOT an ideal place to earn and save a substantial amount of $. For those of you in Thailand or elsewhere, do you find time to travel or doesn't your schedule allow it? Finding time to travel, even weekend or two-day getaways, would be important to me. Am I being realistic here or am I looking to work in fantasyland? BTW, tedkarma, great website. Sounds like you've really made a success of the teaching abroad gig.

Doable, with the following caveats:

- If you're not looking at traveling too great a distance, weekend getaways are easy and can be done reasonably inexpensively.

- Three-day weekends are especially tempting for a quick bolt out of town. The only problem is, everybody else will be thinking the same thing. Friday afternoon traffic heading out of town is awesomely bad; moreso after payday (end of the month) and much moreso for the long weekends. Planning ahead and booking early can save you many a headache. (Coming from one who revels in spontaneity, I had to learn this the hard way, and over the course of several nasty lessons.) That goes double for the New Year and Songkran festivities - those trains, planes and buses to Chiang Mai tend to get booked weeks or months in advance.

- If annual visits to the homeland are on your agenda, this will put a sizable damper on your weekend jauntiness. The best way is the old way - make a budget and stick to it. Speaking for myself, this has meant a lot more weekends at home than I would prefer. You pays your money, you takes your chance.

Hope this helps -

jb
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Kent F. Kruhoeffer



Joined: 22 Jan 2003
Posts: 2129
Location: 中国

PostPosted: Sun Jan 22, 2006 5:44 am    Post subject: Reply with quote

I may have been a little harsh in my first reply above.

Yes, you can save $200 per month on 34 ~ 38K.


As others have already mentioned,

it boils down to lifestyle choices -

and how much beer you drink!


To be a bit more specific -


If you can avoid the 3B syndrome (beaches, bars and babes),

go straight home after work, eat Thai-style in the Soi cafes

and rent for 5,000 Baht or less - you can indeed save $.


I discussed daily budgets with a long-term adult student of mine recently

and discovered that he spends 10 Baht per day on weekdays

by eating lunch at the company subsidised cafeteria.

He doesn't smoke or drink and rarely goes out.

He's Thai, and for him, this is quite normal.


In plain English -

He lives on 10 Baht per day (25 cents!)

unless he puts gas in his car. Very Happy


Me, on the other hand ...


I've spent 10 Baht on a scooter ride before I get off my Soi.

A pack of L&M, a large ice coffee & a few bags of candy

for students (yes, it's a bribe!) - there's 80 Baht.


Another scooter to the Skytrain, add 30 Baht.


Lunch in an air-conditioned restaurant;

100 Baht+ depending how hungry I am.


Two hours in the internet cafe, 40 Baht.


A cold beer or 2 after work, maybe pick up

the tab for a few friends - there's 200.


Drop by Watsons for a 4-pack of Mach 3 razor blades; 235 Baht - Ouch!

Grab a medium pizza @ Pizza Company for 200 Baht.

I've spent 435 Baht, but my face looks great

and my tummy is full & happy.


So to keep a clear conscience when posting, I just try

to emphasize the difficulty of saving $$$

but it's not totally impossible!


On an average day I'll blow through 800 Baht; more on the weekends.

That's basically 24,000 Baht per month. Add 4,000 for rent & 1,000 for utilities

and I've spent 29,000. If I stopped there, I'd have US $200 (8,000 Baht) to save,

if you assume a monthly net salary of 37,000 Baht.


In reality, however, I'll go on a shopping spree,

or catch a bus to Pattaya for the weekend,

or go on a bender & pick up the tab,

and that 8,000 Baht is spent.


But I'm single and debt-free,

so I'm OK living like that !


If I really needed to save $200 a month, I could do it

without too much of a problem, but the value of

Chang Beer stock would drop significantly. Mr. Green



PS: "Soi" means small Street in Thai ซอย
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