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Very few Thais have emergency funds to handle an unexpected situation: study

13 Sept 11:18 Key points summarised by AI

A Bank of Thailand study reveals a significant majority of Thais lack adequate emergency savings, with most unable to cover expenses for more than three months, highlighting widespread financial vulnerability.
Financial experts recommend building an emergency fund covering 3 to 12 months of expenses, tailored to individual income stability and career type, with higher reserves advised for freelancers.
Effective saving strategies include automatically allocating at least 10% of monthly income to a fixed deposit and meticulously calculating a daily budget to manage spending.
Practical tips for building savings range from consistently depositing small change into piggy banks (demonstrated by a couple saving 600,000 baht in a year) to cutting 'Latte Factor' small, recurring expenses.
The article underscores the critical importance of financial literacy, disciplined planning, and commitment to establish a robust emergency fund for protection against unforeseen financial hardships.

Today 15:38 Key points summarised by AI

Thai MP Suchada Zhang Thaensap faces intense scrutiny over her husband’s substantial 1.84 billion baht wealth, with opposition lawmakers alleging connections to international scam networks.
A significant portion of her husband, Taiyang Zhang's, declared assets includes a 1.44 billion baht loan to the now-bankrupt cryptocurrency hedge fund Three Arrows Capital, which still owes him 1.34 billion baht.
Opposition MP Rangsiman Rome accused Suchada's husband of links to online scam networks and gambling sites, prompting Suchada to vehemently deny the claims, demand evidence, and file a defamation complaint.
Taiyang Zhang's background includes co-founding Ren Protocol, later sold to Alameda Research (linked to the FTX collapse), and some of his former associates have been convicted in crypto company failures.
Suchada, a former actress and first-time MP, maintains her husband's innocence, while her party leaders have distanced themselves from the allegations, deeming it a private matter.

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