The below is a small exerpt from my new book, Settling in Thailand. If you like what you read then you can get the book as a digital download or go to Amazon to get the paperback version.
WHAT KIND OF LIFE CAN YOU LIVE ON…….
Around $1,000 a month (c. 33,000THB)
To be honest with you this isn’t really living at this level, it is just surviving. This works out at around 33,000 baht a month and means that you can live here in Thailand but you will be missing out on many things and always worrying about making expensive purchases.
You will be living in a low / mid end apartment outside of the central areas and probably a fair distance from public transport if in Bangkok. Your studio apartment will start to feel like a prison cell and you will have to think long and hard whether you can really justify spending 300 baht on a pizza. You will be miserable and most likely better off staying in your home country. When Skyping your family back home they will honestly be wondering what happened to you and that things must be so bad living in such a crappy environment.
The major downside to being on this kind of budget is that you are unlikely to be putting anything away for a rainy day. If you are working in Thailand then you need to think very carefully if the benefits of being here are worth it when you can barely save 3,000 baht. If here on retirement then you maybe don’t need to save but remember you will be paying for healthcare, which certainly isn’t cheap. Forget about a trip back home, the flight alone is likely to be close to $1,000 for many people and then you need spending money on top of that.
The type of people who live on this type of salary are gap year English teachers and those who don’t know any better. It isn’t uncommon for people who live on this kind of salary to say things like “I live a more simpler life” or “I’ve adapted to live how Thai people live” but in all honesty, they are cutting back on something that they would like to do.
Around $1,500 a month (c. 48,000 THB)
Now you’re looking at around 48,000 baht a month and things do get a bit more interesting and your quality of life will be a vast improvement on those scrimping by on their 33,000 baht a month.
You can just about afford a big studio room or perhaps a small one-bedroom apartment in a reasonable location. Sure, it won’t be luxury but around the three-star standard. It’s the kind of place where you might actually invite someone over to without fearing they will think less of you.
You will be able to splash out now and then and eating Western food won’t feel like it will destroy your bank balance. Savings and trips back home are still a worry for most people at this level of income though.
Around $2,000 a month (c. 66,000 THB)
At just over 60,000 baht a month, things take another leap in terms of your quality of living.
Decent apartments in central locations can be had for around 12-20,000 baht which means a one-bedroom condo, or perhaps even a small townhouse isn’t out of the question. We are looking at buildings with pools, fitness centers and a nice feel to them. You’ll be able to get a good internet connection, run the AC when you’re in without worrying over the monthly 2,000-baht bill and splurge on Netflix and a sports package to watch.
Eating out will mean you’re able to visit local, international and, occasionally, fine dining options in Thailand. You can travel locally on this wage and enjoy being in Thailand.
You can put away at least 5,000 baht a month which should be enough to cover a trip back home and some spending money.
Around $3,000 a month (c. 100,000 THB)
This is a very important number for a lot of people living here. This is the level where you will be able to support a partner and child to a good standard. Forget about doing that on 33,000 baht a month and even at 66,000 baht you will be missing out on lots. At almost 100,000 baht a month you have the means to buy imported products for your child and live in a good, safe environment.
The budget for two adults and a child to eat a wide variety of healthy food in Thailand will come in at around 25,000 baht a month in most expat areas. In the sticks you can do it for less but when it comes to things like baby milk and food you probably don’t want to scrimp on it.
You will probably want to get a place with at least 2 bedrooms when you have a family. Two Bedroom condos start at around 16,000 baht in the outskirts whereas a place in a good location in a tourist area will be minimum 20,000 baht but more likely approaching 30,000 THB. If you are living outside tourist areas, you can rent a decent two or three-bedroom house for around 12-25,000 baht a month. In the sticks it is possible for around 8,000 baht a month.
You will be able to afford the fees for a bilingual school and have a few little trips locally too. Flying a family back to your home country might be difficult on this salary alone but if you’re partner is earning too then it is possible.
If you are a single person at this salary then you can live a fantastic life here!
Around $4,000 a month (c. 135,000 THB)
If you are an expat from a Western country being relocated to Thailand by an international company then this is the kind of salary you should really be looking at. It isn’t unrealistic but many people here have a negative attitude towards asking for what they are really worth.
At 135,000 baht a month you are going to have a really nice lifestyle. You can eat out every meal if you want and go to fancy bars to socialize without having to worry about the tab at the end of the night. Forget using public transport you can travel by taxi or Grab everywhere.
The nice thing about this level is that you will be able to save a decent amount at the end of each month. A single person on this salary who goes out a few nights a week, travels once a month and lives in a good one-bedroom condo should be able to save at least a quarter of their income pretty easily. This means that trips home or to other countries are possible and buying things like new laptops or phones isn’t an issue either.
Around $5,000 a month (c. 160,000 THB)
Pretty similar to the $4,000 section above but the same can be said for small families. Savings are possible and you can do a lot here without worrying too much over money.
Over $5,000 a month
At this level you have pretty much no worries at all. You can travel and stay in top hotels and visit other countries in the region without any difficulty.
You will be the sort of person high level condo developers target and could rent one of the more luxurious rooms in the 50,000 baht a month range. Depending on how much over $5,000 you have then you could look at a penthouse in one of the key areas of Bangkok with private pools and elevators. These cost in the region of 100,000 baht a month.
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