Working in The clue is in the name

Monthly Earnings Can I answer that in the next section?

Q1. How is that income broken down? (full-time salary, private students, on-line teaching, extra work, etc)

I was a 30-50K a month teacher in Thailand for around 15 years but had a few fortunate breaks and was able to 'retire' (or semi-retire) quite a few years ago. Nowadays, with investment returns and a few other bits and pieces, I average about 100-120K a month in terms of income. It's very difficult to put an exact monthly figure on it because it fluctuates considerably. It's certainly not a fortune by today's standards and probably puts me on the same earning level as a lower-end international school teacher, right?

Q2. How much money can you save each month?

I save what I don't spend and it's as simple as that. I do the sums regularly and right now, I need a maximum of 60K a month to live a lifestyle I'm happy with. I should add at this point that I do have a decent 'savings pot' behind me, which I never really dip into.
I'm from a working class background, where every pound note was well-earned and the thought of having no money terrifies me, especially as I get older. I'd probably like to end my days in Thailand but the truth is that none of us know what's around the corner. You can only cross your fingers and hope for the best; hope that your savings pot will see you through to the end of your days. My apologies for taking such a dark turn already, but I'm one of life's realists.

Q3. How much do you pay for your accommodation and what do you live in exactly (house, apartment, condo)?

My wife and I had a house built on her mother's land in Samut Prakan about 20 years ago, just after we got married. Obviously, not having to pay for the land was an enormous incentive. The house cost us around 1.5 million baht to build, of which my wonderful mother-in-law chipped in a million, leaving my wife and I to pay off the balance. We are eternally grateful to her because we didn't have a great deal of money around us at the time.

The house is nothing grandiose, in fact it's already showing signs of wear and tear, but it's a roof over our heads and it's the perfect size for a couple with no children. I've always made every effort to furnish the house well and to make it cosy, because I spend a lot of time there. My living environment is one of the most important things in life to me. If that environment is messy or in a state of disrepair, it affects my mental health.

Q4. What do you spend a month on the following things?

Transportation

My wife has always had her own car, which she pays for 100% (I just wash it now and again) That's useful for supermarket shopping, Thailand road trips, etc. I don't personally drive in Thailand (and it's never bothered me) so I'll use the BTS (or even buses and songthaews) to get to the gym, go to football matches, etc. This probably comes to around 600 baht a month.

Utility bills

I transfer 5,000 baht to my wife's bank account at the end of each month and that covers water, electricity, home wifi and my AIS mobile bill.
I think she finds that 5,000 baht enough. She's never complained or asked me for more.

Food - both restaurants and supermarket shopping

If I had to choose just two areas that we've really cut down on - well, since the pandemic really - it would be eating out and supermarket shopping. Eating out, especially at what I call the shopping mall chains, is just no longer a pleasure I find. I would rather eat a 50 baht plate of duck and noodles at the local hole-in-the-wall. We have the occasional KFC or McDonalds but no more than once a month.

I also avoid the expensive supermarket chains like TOPS and Foodland whenever possible. I've discovered the joy of walking to the local market and getting to know some of the local traders. It's amazing how much money you can save on provisions such as fresh fruit by buying on the footpath compared to the supermarkets, where prices seem to be spiralling out of control and increasing every week.

My wife and I mostly cook and prepare food at home, and we have what might sound like a weird arrangement to some couples. I pay for my food; she pays for hers. I eat when I'm hungry; as does my wife. We rarely / never eat together at the same table. We're both entirely self-sufficient. It's just a system that works for us.

Oh, I need to come up with a figure. Let's say 8,000 baht a month for my grub, but it's probably less.

Nightlife and drinking

I'm not a great socializer now. I loved a night down the pub back in my younger days, and in the few years when I first came to Thailand, but not anymore. And I married a woman who I don't think has ever stepped foot in a nightclub in her life. This spending section is probably a great big fat zero. I can go for months without an alcoholic drink and not even give it a second thought.

Purely in jest, my wife sometimes calls me 'Billy No-Mates', but the truth is that I've always been a bit of a loner. I'm the teenage box-bedroom rebel who never really changed much when he got to adulthood. I've always been comfortable in my own company. I take my hat off to those who need to be constantly surrounded by people, or look forward to the weekends for the chance to go out and paint the town red. It just isn't me.

Books, computers

I don't do books, I don't do computer games and I don't do TV.
I used to read a lot. I've got a Kindle that's crammed with book titles and I used to love my sports autobiographies and true crime stories, but reading is something I seem to have lost the enthusiasm for as I've gotten older. I can't really explain it. It's the same with computer games. I used to be addicted to them in the days of the Playstation 1 and 2 (I know that's going back a long way) I couldn't wait to get home from work to upload Tomb Raider and get Lara Croft to the next level. But sometimes you have a moment of clarity and realise what an enormous 'time thief' computer games are.

As for TV, I watch about six hours a week (usually in the hour or so before I fall asleep at night). I'm full of admiration for those who sit on the sofa and devour endless hours of Netflix series and box sets. When do you get your housework done?

My desktop computer, laptop and mobile phone are all around four to five years old. I'm not a gadget person either. I replace this stuff when it absolutely becomes unusable. Technology carries a stress all of its own. You buy phones and stuff but you don't own them; they own you!

Q5. So if you need 60,000 baht a month to fund your lifestyle, what does most of that money go on?

My biggest expense is travel. That comes in at around 25K baht a month or 300K baht a year. That 300K a year will get me a trip back home to England to see family, two trips abroad with my wife (last year we did India and Turkey) and a few lengthy breaks in Thailand. When my wife and I travel together, we split the cost of plane tickets, hotel rooms and car hire right down the middle 50/50, but I will generally take care of most of the spending money (food, tickets to attractions, etc). We like to call ourselves 'top end budget travellers'. OK, 10,000 baht-a-night luxury bungalows with ocean views and doors that open directly onto the beach are lovely, but we are genuinely just as happy with something that costs a thousand baht a night.

Private health insurance is also worth a mention. Let's call that 5,000 baht a month (and I've only got it that low because I've factored in a 150K baht excess). The cost of health insurance only goes in one direction each year unfortunately.

Finally, there's gym, which costs me around 6-7K a month for a personal trainer. It's a luxury I suppose but so worth it. I go to gym three times a week (when I'm not travelling) and it's non-negotiable. In fact, I get moody and irritable when I go for a couple of weeks without the chance of a proper workout. We all know that exercise is incredibly important as you age. I've been training with my Thai friend (and fitness guru) Ben for over ten years. He charges me 700 baht an hour (much cheaper than personal trainer rates at a brand name gym) There is also the bonus that Ben speaks very little English and we communicate almost entirely in Thai, so it's a valuable hour of Thai language conversation practice to boot.

Q6. How would you summarize your standard of living in one sentence?

It's exactly how I want it (and I've had to work at it, trust me) We travel whenever we want, there's always food on the table, and our living environment is comfortable. I don't want for anything else.

Q7. What do you consider to be a real 'bargain' here?

Anything that is labour intensive such as needing a wall painted or a tree chopped down or a drain unblocked. Food from the market is also pretty decent value.

Q8. In your opinion, how much money does anyone need to earn here in order to survive?

Bangkok and 'outside Bangkok' (with the obvious exception of the tourist cities) have become two different worlds in my opinion. I'm reminded of this every time I travel upcountry.
In rural non-touristy cities, I think you could still live very nicely indeed on 40K a month. In Bangkok, I wouldn't like to live on less than 70K if I was also having to find rent out of that.

Phil's analysis and comment

Thank you for reading my ramblings. I just thought it might be a good idea to put myself in the cost of living hot seat because truthfully, I have a real love-hate relationship with money. You wouldn't believe the pile I've lost as a result of poor advice and bad investments, but I try not to dwell on it. I just wish someone had told me years ago to put all the money I made in a tin box under the bed. 

It took me years to figure it out but I'm convinced that the secret with money (and how it relates to life) is to earn 'enough'. Figure out the kind of lifestyle you want (being realistic and not ridiculous), work out the target sum - and then find the easiest way to earn it. 

You know those people who work all the hours godsend, to make as much money as possible, without knowing what their 'target sum' is. Don't be one of them. That's just stupid.

At the end of the day, only your health truly matters.     

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