More than 41 per cent of Thais have no savings and are living pay cheque to pay cheque, a new poll shows. - Bangkok Jack / The Nation

More than 41 per cent of Thais have no savings and are living pay cheque to pay cheque, a new poll shows.

Albert JackDecember 8, 2020

Bangkok Poll by Bangkok University Research Centre on Saturday published a survey on "Thai people's financial status in 2020", saying that 41.1 per cent of respondents lived pay cheque to pay cheque and had no monthly savings.

28.3 per cent said they had to borrow just to support their families.

Some 17.6 per cent said they earned adequately, but their savings this year had been reduced.

The survey was conducted among 1,221 respondents from all regions of Thailand.

The majority of respondents (61.3 per cent) listed the reason for their reduced earning/savings as the soaring prices of consumer products, while 36.8 per cent said they had to pay mortgage for house or car, while 29.3 per cent said their businesses had seen fewer customers this year.

When asked how they coped with financial problems, 81.7 per cent said they had to become more thrifty and think before spending, while 55.7 per cent said they had to cut back on dining out and travelling, 22.7 per cent opted to seeking supplementary income, such as selling items online and becoming a delivery person.

When asked what expenses were still the top priority even in this economic situation, 80.8 per cent of respondents said utility bills (water, electricity, internet, telephone), followed by food (73.3 per cent) and educational expenses for their children (43.8 per cent). – The Nation