Monthly Cost of Living in Thailand August 2016
Welcome to the June 2016 report on my monthly spend in Thailand. To start with check out the about me page to learn a little about me and my circumstances. It will also explain the high accommodation prices below.
Total Income: 73,000 THB
Total Spend: 61,000 THB
Saved: 12,000 THB
Breakdown
Accommodation – 30,000 THB
My standard monthly repayment towards my 2 bedroom 64 sq metre condo. This money is from the UK, not a Thai bank. This is a higher cost than most people have but I get a top floor corner unit and own the property. Buying isn’t for everyone and is something that you should consider before making a buying decision.
My decision to buy was made based on my feelings that I would be here in Thailand for a long time and would have need for a condo. I also chose this condo due to its location, 300 meters from the future Khubon BTS station. Similar condos are renting out for around 13,000 Baht a month which is a good return for me and in the future this may rise with the completion of the BTS Pink line in the next 3-5 years.
To look at the other side of the coin I could be renting a 30-40sq meter condo in the same area for around 10,000 THB a month and be saving an extra 20K a month. I could also rent a decent house for around 15 -20K a month and save 10,000 extra a month. I thought about these options and, for me, I thought buying was the best option.
I wouldn’t like to live in a condo forever but for right now it is enjoyable and there is more than enough space for 2 people. When we outgrow it we will rent it out and the above mentioned 13K rental income will cover a good proportion of a house.
Utility Bills – 3,000THB
This covers water, phone, internet, Sports TV and the condo maintenance fee. My girlfriend pays our electric bill (c.1250 Baht).
My utility bills are reliable and don’t vary by more than a couple of hundred baht a month. It means I don’t have to worry about any surprises in this section. I remember back in the UK the bills would fluctuate so much and I would have no idea what I would need to pay at the end of the month.
I recently downloaded the True Internet, Dtac and MEA (electric company) Apps which mean I can make payments via my phone and don’t have to worry about going to 7/11 and, in theory, am getting closer to paperless billings. However, even though all payments and bills are sent online I still receive a paper receipt from all three companies which kind of defeats the point of the apps……
Transport – 1,500 THB
I normally travel around by bus which costs on average about 10 baht a trip. I live on a busy road with lots of different routes and can get to most places in Bangkok.
Sometimes I do get a taxi if I go out of the way or I just cant be bothered to wait for the bus. In all honesty the taxi prices here are so cheap and I could afford to take a taxi every day to work and it would probably only cost an extra 2,000 Baht a month, not a huge amount.
If I need to go to central Bangkok in a hurry I will take a minivan which costs 35 Baht to Victory monument. I had to go into central Bangkok a couple of times in August and whilst there I used the MRT and BTS. I also tried out the boat on the way home from Asoke Pier to the Mall Bang Kapi.
Food – 12,000 THB
I normally spend a fair amount in this section but eating out is one of my main forms of entertainment. Thailand is great for going to mid range restaurants, eating great food and having a couple of beers. You can spend 300 Baht (around $10) and get a couple of beers and a couple of dishes.
In August I ate out on average 2 or 3 times a week. I have a couple of local restaurants I visited and I also went out for a colleague’s leaving do to HOBS (House of Beers) . To be fair HOBS is the kind of place I wouldn’t normally go to as for an imported beer the price is crazy compared to local options at 260 THB ++.
We made a couple of trips to Sweet December in Khubon which is a nice cafe serving honey toast, ice creams and lots of drinks. It is good value, the treats pictured and a couple of frappes came to less than 300 Baht.
Home cooking is possible in Thailand and I would recommend renting somewhere which has a decent kitchen. Most of the basic apartments and studios wont have a kitchen area so you are looking at getting a 1 bedroom condo before you get even a basic cooking setup. Chicken, pork, vegetables and pasta are all very cheap in Thailand and I normally cook at home two or three times a week. I would say the price of cooking at home is more than the cost of street food but less than a mid range restaurant. I spent around 2,500 at the supermarket buying ingredients to cook this month for me and my girlfriend.
General Shopping – 2,000 THB
I bought some new clothes this month. A shirt from Robinsons department store was 1,300 Baht and a couple of T-shirts made up the extra to 2,000 Baht in total.
I think clothes in Thailand aren’t cheap unless they are on sale. I feel the quality vs the price isn’t great and overall it is cheaper to get things from your home country than buying them here. If you just want cheap plain clothes then maybe Thailand wins but in terms of quality products I would always chose to get them from the UK.
Entertainment – 500 THB
Most of my entertainment comes through going out to eat which is included in the above food section.
Every Wednesday I go out and play badminton and it costs around 60 Baht a week on average. I also played football a couple of times which set me back 125 a time for the rental fee.
Travel – 4,000THB
We went for a short 2 night 3 day trip to relax a little and chose the Goodville Cottage in Pak Chong as our hotel and it was great for the price (1K per night). We chose the rooms with balconies which look out onto the river but to be honest we didn’t spend a huge amount of time in the room. It also had a chilled atmosphere and was walking distance to restaurants. I split the cost of this trip with my girlfriend so in total we paid around 8,000 Baht and had a great time.
We went to Farm Chokchai which is a very famous place and it was a nice place to spend an afternoon. They have a great steak restaurant which cost just over 1,000 Baht for the two of us to eat a good steak. The tour of the farm with an English guide was 300 Baht and was actually quite interesting and , as a bonus, we got a free ice cream.
I love getting out of Bangkok and to be honest I haven’t done enough trips out this year. I plan to be better prepared for next year and arrange my schedule in advance to do more long weekend trips away.
Others – 8,000THB
A family birthday meant sending some money back home as it is much easier than sending things through the Thai postal system.
I hit the supermarket to stock up on cleaning supplies and air fresheners which should last a few months. I also went to Boots pharmacy to get a few toiletries and others bits and pieces.
I also go 50/50 with my girlfriend on payments for a second condo which is currently being built. It works out at 4k each a month and hopefully by April or May next year it will be finished and ready for someone to move into. I imagine the rent will be around 7K a month and the mortgage repayments and maintenance fees around 9K a month so in the long run it wont be a big financial commitment. We have already put aside money to cover completion fees, taxes and furniture etc.
I get my clothes cleaned at the local laundry shop which sets me back around 300 baht a month. Add on 200 Baht for a haircut and that makes up my total spending in this section.
Saved 12,000 THB
A better month for saving this month as I had more work to do in the last 10 days of the month and made an extra 5K compared to July. I have a fixed income and then extra work brings in the rest so I never get the same amount every month. My basic salary covers my condo and living costs and any extra work is the amount I can save, depending on what I do that month.
The last couple of days each month I try to stick to my budget and leave savings alone but it isn’t a big worry if I have to dip in for an extra couple of thousand Baht. I have enough in the backup account to keep me going.
I have also recently decided to split my money between Thailand and the UK. With the current exchange rate it felt like a good time to transfer some savings back home where they can sit in an account for anything I need to pay for (student loan, birthdays, spending money whilst in the UK etc).
I have a standard savings account in Thailand as I couldn’t find an account offering over 1.5% interest on savings with flexible access based on the amount I have. I don’t want to lock my money away here in case there is an emergency or some issue that means I need my money.
Overview – Monthly Cost of Living in Thailand August 2016
To be honest August passed in a bit of a blur. I had a nice trip at the end of the month and worked a bit more than the month before. I don’t go out drinking every day and this guide works well for someone not into the party scene or perhaps goes out maybe only once a week.
I fly back to the UK on September 30th and will be back home for 11 days. I’m looking forward to getting back and enjoying a proper holiday with family. I’ve been saving up for pretty much the whole year for this trip and I expect including flights I will spend somewhere in the region of 100,000 Baht. I don’t intend to miss things or scrimp for every penny there, it’s my big holiday of the year – I’m going to have fun!
With that in mind I will set my September target as saving an extra 10K THB. It is my birthday in September but apart from that I don’t have plans for anything else. It should be a quiet month and hopefully I will have a decent amount of work coming in.
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