Due to the Exchange Rates - have you changed your spending habits?

[Pilotman]

I am a Brit expat, dealing, as many of us are, with a reducing income due to a very bad exchange rate, Pound to Baht.  It is now impacting our spending habits quite substantially. It has curtailed all of our family plans, no travelling holidays, including cancelling a planned trip back to the UK for a family get together. No eating out, no nights out, watching the utility bills, reducing the grocery bills. No spending on the house or garden, no purchasing of large items.  In effect, we are hunkering down to see when and if things improve.  There is very little room left for reducing our spending any further, without seriously impacting our way of life.  It feels like 2008 all over again.  It is not so bad that we would ever consider leaving our home and life here to relocate, as we can manage and we still have an acceptable standard of living,  but it's irritating to have to stop and/or reduce the many things that we enjoy.  Anybody else had to change their way of life to counteract the exchange rate issues?  

[CharlieH]

Agree,  but not exactly a "change a way of life" but I think it would be a mistake not to cut the cloth accordingly in the current economic climate.

[RichardColeman]

Do what I do - send the wife out to work !

[ramrod711]

We travel less, household spending hasn't changed much but I hope the Canadian dollar doesn't fall much further.

[brokenbone]

unfortunately i am unable to reduce spending,

i dont know what happened, i used to be somewhat frugal

back home, and even initially in thailand.

i lost the plot, i blame the tipping requests

[Thaifish]

Because of the AUD/THB exchange rate over the last 6 years I now spend 34.8% less. Simple as that.

[Chivas]

I've definately changed my spending habits. I dont come....

[FritsSikkink]

what about doing some work or start a business to get more local money in?

[sammieuk1]

No spending habits left here looks likely if there is not a drastic change I will be UK bound alone  looking for a job April the 25th is my do or die deadline brought down by Brexit after 20 years away????

[madmen]

There is big pressure for expats married and supporting ex bar girl's and their offspring. crazy stupid! 

[Jip99]

I have said elsewhere that the rate is encouraging me to spend more time in UK/Europe.

 

My first budget for Thailand was based on a rate of 70. Today if all my income was transferred to Thailand (based on a rate of 38) I would be 3.2 million Baht a year worse off.

 

That over- simplifies the situation but it does mean that there are advantages in spending Sterling in the UK. Based on a more realistic expectation of GBP/THB 50 I would save 100,000 Baht a month if I didn’t have to transfer anything to Thailand.....again, it is not exactly that simple but the point is that money saved by not moving money to Thailand virtually  pays for flights and accommodation for a 6 week stay in Spain next year.

 

I have given some thought to 6 months here and 6 months in UK/Europe.... I am not sure if that is what I want to do - but the rate encourages the thought process.

[Kwasaki]

3 hours ago, Pilotman said:

Anybody else had to change their way of life to counteract the exchange rate issues?  

Not really never expected it stay at 70 to £.

[RichardColeman]

44 minutes ago, madmen said:

There is big pressure for expats married and supporting ex bar girl's and their offspring. crazy stupid! 

Bit silly statement ! Plain and simple, if your wife wont go out and work - even as a gate guard for 12,000 baht a month to help out in the time the exchange rate is bad - then you married the wrong one. They are the stupid ones - not those with wives who marry and WILL help out. I have many friends with Thai wives who work to help out - great really having time to yourself and her having some money to spend. I've had many bargirls in my time - like most of us - but I married a school teacher - someone who has worked all their life and I can rely on. Bar girls are for fun - not great for marriage - and yes, I know some are different, but not many will go out and look for work after marriage. 

[elliss]

3 hours ago, RichardColeman said:

Do what I do - send the wife out to work !

 

 Told her that myself, she reckons she is too old , go back work soi 8 pattaya ...555

 

 

 

Edited August 10, 2019 by elliss

[KittenKong]

54 minutes ago, Jip99 said:

the point is that money saved by not moving money to Thailand virtually  pays for flights and accommodation for a 6 week stay in Spain next year.

 

I have given some thought to 6 months here and 6 months in UK/Europe.... I am not sure if that is what I want to do - but the rate encourages the thought process.

But doesn't that suppose that you have two accommodations available for your use all year, for which you are presumably paying, and which you have presumably furnished and kitted-out? Not to mention some sort of vehicle available in both places. That sounds expensive to me, and surely more expensive than just staying put here.

 

I like travelling and I like going on trips for a month or so, but I cant think of anything worse than spending six months in one place and six in another. I would never be at home. Still, each to his own.

 

To answer the OP's question: no. Having bought a car and a condo and fitted it out to my satisfaction I find that I dont spend much here these days. Not being a drinker and not having a family or any Thai acquaintances helps hugely with that, of course.

[elliss]

1 hour ago, madmen said:

There is big pressure for expats married and supporting ex bar girl's and their offspring. crazy stupid! 

What a typical bar stool , statement ..

 Fyi ,  not all expats choose to marry ex bar girls . No offence intended .

    Farlangs , who have learned to speak thai, have a much larger choice of ladies,  enjoy, i have..

 

      Bttopic ,   my  expenditure at the moment is sustainable .

       That said , 35 may need cut backs . i am preparing for 30 bht /gbp. 

       My thai partner is of the opinion , that i am not serious, meaning ,

       she believes there are no poor Atm/ farlangs , living in Thailand .

        Sadly a time of deep concern , for most expats ..

 

 

Edited August 10, 2019 by elliss

[Handsome Gardener]

24 minutes ago, RichardColeman said:

Bit silly statement ! Plain and simple, if your wife wont go out and work - even as a gate guard for 12,000 baht a month to help out in the time the exchange rate is bad - then you married the wrong one. They are the stupid ones - not those with wives who marry and WILL help out. I have many friends with Thai wives who work to help out - great really having time to yourself and her having some money to spend. I've had many bargirls in my time - like most of us - but I married a school teacher - someone who has worked all their life and I can rely on. Bar girls are for fun - not great for marriage - and yes, I know some are different, but not many will go out and look for work after marriage. 

What the …...

 

You would seriously send your wife to sit in an unguarded housing project guard house for 12,000 a month ?

 

Wow she found a keeper !

[DILLIGAD]

I know of many degree holding Thai teachers, that earn less than that!


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[RichardColeman]

54 minutes ago, Handsome Gardener said:

You would seriously send your wife to sit in an unguarded housing project guard house for 12,000 a month ?

Actually yes, because it was a reputable company that she worked office for, guarding farang houses where we lived - and no, not on her own

[Jip99]

7 hours ago, KittenKong said:

But doesn't that suppose that you have two accommodations available for your use all year, for which you are presumably paying, and which you have presumably furnished and kitted-out? Not to mention some sort of vehicle available in both places. That sounds expensive to me, and surely more expensive than just staying put here.

 

I like travelling and I like going on trips for a month or so, but I cant think of anything worse than spending six months in one place and six in another. I would never be at home. Still, each to his own.

 

To answer the OP's question: no. Having bought a car and a condo and fitted it out to my satisfaction I find that I dont spend much here these days. Not being a drinker and not having a family or any Thai acquaintances helps hugely with that, of course.

 

Yes it does... as I said, it was over-simplistic. Nonetheless, the amount of money saved by NOT exchanging Sterling to Baht (based on the notional rate of 50 vs reality) covers the cost of accommodation - and more - in the UK/Spain.

 

I know others who sit very comfortably with the 6 months/6 months arrangement, and consider it the best of both worlds - I know several people in the building industry who work 6 months in the UK to fund 6 months here. That is different, of course, and your point about 'belonging' to one place is highly relevant. Contentment is a major factor wherever you stay and you seem to have achieved that.

[robblok]

I have seen my income increase more so problems with me. I always had a sizeable margin to save for later. So I don't have a problem. It did make me more price aware and some things are just not worth it anymore. But that is just a mental thing.

[Jip99]

7 hours ago, Handsome Gardener said:

What the …...

 

You would seriously send your wife to sit in an unguarded housing project guard house for 12,000 a month ?

 

 

 

 

Why not.

 

If times re a bit tougher she she should not need 'sending out', she should be proactive in contributing to the coffers.

[Denim]

Yes.

 

But not only because of the exchange rate. The seemingly constant tinkering with the visa regulations has also had its effect.

 

All big investments have been cancelled. No car upgrade , no new motorcycle , no new furniture or extra air con. No new telecaster and amp. No bringing in more cash from the UK.

 

Only spending money on food and essentials now.

[colinneil]

With the exchange rate being sh++e i am fast heading towards being ..... A kept man.

 I am lucky my wife has  good job/ salary.

[TSF]

I've had to cut back on a few things in recent times, we used to take frequent trips to surrounding countries, 2 or 3 times a year, so those 2-week trips to Vietnam and Cambodia have stopped. Plus a general lowering of spending...cheaper hotels, cheaper eating & drinking places.

[Pilotman]

10 hours ago, FritsSikkink said:

what about doing some work or start a business to get more local money in?

Okay if you can do it, but I am on a retirement visa, so no working permission. 

[Henryford]

12 hours ago, RichardColeman said:

Do what I do - send the wife out to work !

Same here, kicked the gf out to get a job instead of sitting at home drinking beer and watching thai soaps. Bliss.

[BritManToo]

9 hours ago, Kwasaki said:

Not really never expected it stay at 70 to £.

On the other hand, I wasn't expecting it to reach 25bht/pound.

But now I am.

[FritsSikkink]

17 minutes ago, Pilotman said:

Okay if you can do it, but I am on a retirement visa, so no working permission. 

What about the wife, invest in a small business.

[ChipButty]

Definitely cut back on unnecessary spending taking trips, out winning and dinning not bought any new clothes for ages but like everybody we have unavoidable cost like Car insurance, last month a new battery for the car we dont have any rent to pay so lucky there,