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How to save Money in Thailand


duanja
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There's two schools of money saving and i think you're asking about both of them??

If you're talking about interest rates...........then you've already got loads of money anyway. Interest rates are only an effective means of saving if you are immortal or if you are very rich. Any bank account will offer you a fixed saving account of about 0.1% a year (slightly exaggerated) which should buy you some noodles every Christmas.

The other way of saving is not spending money and not living like you can afford to buy everything!

The latter is very apt for me at the moment, I am in the process of reviewing my monetary expenditure because i'm sinking fast. I don't know how? I earn enough and................oh yes, spend money like it's grown on trees!!

I have recently wrote myself some commandments which should give me some bouyancy in a place where I should definitely not be sinking!

1.) Go home after work

2.) Go to the CatHouse on Saturday and Sunday for the discount.

3.) Have a quota to spend everyday, any money not spent is a bonus for the next.

4.) Buy beer from 7, or alternatively buy whiskey and then go out after if you have to. Don't buy beer anywhere other than 7.

5.) Don't take your ATM card anywhere.

6.) Make beer your only vice.

7.) Imagine that 1,000B is $1,000

8.) Don't shop at Siam Paragon

9.) Don't buy a year membership to the gym and go twice.

10.) Walk the 500 metres to the BTS or MRT, don't take taxi's halfway across town when you don't have to.

This is more of a note to myself than an answer to your question.

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I won't put high hope on interest income. Putting money in the bank is good in a way that it stop us using the money - if you don't take it out later in the month.

I suggest once you got your monthly income, separate it into what you need to spend and what you plan to save.

Put the money you want to save in the bank of your choice straight away. If you have atm card for this account, keep it some place that is hard for you to get - forget the wallet. maybe better in your mum's wallet (but don't tell her your pin)

Be wise in how you spend your monthly allowance.

If at the end of the month you manage to use only the money you plan to use, you are successful. congratulations! You are a lot better than us.

Having said that actually we are struggling to cope with 20K a week. In 2 months it only happened once!!! I better print what I told you and stick it around the flat to remind myself >_<:

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