Credit cards, personal loans lead debt types among Thais: poll

Credit cards, personal loans lead debt types among Thais: poll

Credit cards are one of the leading types of debt for Thai people, and debt levels have increased since the start of the Covid-19 pandemic. (Photo: Varuth Hirunyatheb)

Credit cards and personal loans top the many types of debt burdening Thai people since their daily life became affected by the Covid-19 pandemic, according to a survey by Suan Dusit Rajabhat University, or Suan Dusit Poll.

The poll was conducted online between Nov 22-25 on 1,059 people throughout the country who have been in debt during the Covid-19 situation.

Asked about the types of debt they had incurred, with each respondent allowed to choose more than one answer, 46.52% pointed to credit cards and personal loans; 39.85% loans for property including houses, condominiums and commercial buildings; 35.46% daily expenses; 30.79% loans for cars and motorcycles; and 15.73% expenses for education and student loans.
varied as follows::

  • 48.18% owed less than 500,000 baht;
  • 22.85% owed 1,000,000-2,999,999 baht;
  • 15.26% owed more than 3 million baht;
  • 13.71% owed 500,000-999,999 baht.

Asked whether they thought they would be able to pay off the debt, 71.11% said “yes”; 15.20% were uncertain; and 13.69% said “no”.

Asked how their behaviour had changed after going into debt — with each respondent allow to give more than one answer — 60.23% said they were following a more careful spending plan; 55.04% said they were doing extra work to get supplementary income; 40.25% said they had sought information on debt management and interest reduction; 31.51% said they turned to gambling; and 25.36% said they sought to borrow from people around them.

Asked how they would solve their debt problems, 80.88% said they would be more disciplined and thrifty, and adjust their spending habits; 61.85% said the government should carry out debt restructuring to lower interest payments on loans; 52.81% said the minimum wage and employment opportunities should be increased; 31.30% said people should be educated about debt management; and 23.31% said financial institutions should help debtors learn about financial planning.

Asked who they would turn to for help to solve their debt problems, 89.23% said they would help themselves; 46.33% cited families and close associates; 36.70% banks; 22.97% savings cooperatives; and 11.25% pawn shops.

News Related

OTHER NEWS

Marc Jacobs handed out free $300 bags due to online glitch

Photo by: Laura Chouette/Unsplash Marc Jacobs is one of the well-known luxury brands in the world, and recently, it has given away free bags worth $300 each to shoppers who ... Read more »

Mondelez Mulls More Price Hikes as Inflation Eats Into Profits Oreo maker says supply chain is biggest challenge; 'It's all out of whack'

Higher prices for Oreo cookies, Triscuit crackers and other snacks haven’t so far deterred U.S. shoppers. Mondelez International Inc. said higher prices for its snacks weren't enough to make up ... Read more »

Don Julio, Crown Royal Maker Is Running Low on Booze That Takes Years to Make Owner of Crown Royal whisky faces shortages resulting from high demand during the pandemic

The world's largest spirits maker is running low on some of its products. Diageo PLC said soaring pandemic demand is depleting stocks of Crown Royal whisky, Lagavulin Scotch and Don ... Read more »

Suspected insurgent killed in clash in Narathiwat

Soldiers and police are deployed to search a house in Ra-ngae district, Narathiwat province, in which an unknown number of suspected insurgents clashed with military rangers and police on Friday. ... Read more »

Efforts to remove oil sludge off Rayong shoreline

Personnel from different agencies get together to remove oil sludge off the coast of Rayong on Saturday. (Photos: Bangkok Post) Oil sludge has washed up on Mae Ramphueng beach in ... Read more »

McDonald's misses earnings estimates due to rising costs, pandemic woes

Photo by: Vijaya Narasimha/Pixabay McDonald's fell short of its revenue, and profit estimates, and the company cited rising costs and low sales turnout in its more than 4,500 store outlets ... Read more »

Market extends profit booking for second week even as these nine smallcap stocks gain up to 58%

Market extended profit booking in the second week ended January 28 losing another 3 percent amid high volatility as investors remained cautious on hawkish Fed, rising crude oil price, geo-political ... Read more »

Moneycontrol Pro Weekender | The Budget must build confidence

Dear Reader, This year’s Union Budget is being prepared against a backdrop of extraordinary uncertainty. The IMF’s World Economic Outlook Update talks of a disrupted recovery. It says, “Supply chain ... Read more »

Suspected insurgent killed in clash with troops in Narathiwat

Soldiers are deployed to search a house in Ra-ngae district, Narathiwat province, in which an unknown number of suspected insurgents clashed with military rangers and police on Friday. One insurgent ... Read more »

DealShare turns unicorn with $165 million funding led by Tiger Global

Representative image. Social commerce startup DealShare said it has raised $165 million at a valuation of $1.6 billion, giving it the unicorn tag, as the funding spree continues, even as ... Read more »

What is Partygate that may cost UK Prime Minister Boris Johnson his job?

UK Prime Minister Boris Johnson has refused to resign over Partygate and has said that he is waiting for investigation reports to clear the air Partygate? It’s a term used ... Read more »

Burger King may accept Dogecoin after supporting Elon Musk in his crypto proposal to McDonald's

Photo by: uluer servet yüce/Pixabay Burger King may have hinted that it will be accepting Dogecoin soon after it responded to Elon Musk's proposal for McDonald's to take the said ... Read more »

“Central Village Phase Two” opens today “Central Village Phase Two” opens today with over 300 global brands and special promotions of up to 90% discounts while reaffirming its position as the leading world-class destination for brand-name shopping

• Central Village strives to become “Thailand’s Most Complete Luxury Outlet & Lifestyle Destination” providing an experience beyond brand-name shopping. • Central Village boasts its continued success proven by traffic ... Read more »

NFT: Johnny Depp selling portrait paintings of Heath Ledger, Elizabeth Taylor as NFTs

Photo by: jodiandbrett/Pixabay Johnny Depp is a multi-awarded Hollywood actor who has been in the entertainment business for almost four decades already. He has been widely recognized as a character ... Read more »

Qatar wants to help Europe with gas but has no ‘magic wand'

Photo: ANP Qatari leader Emir Tamim bin Hamad al-Thani meets with US President Joe Biden on Monday. In addition, he will probably make promises about gas supplies to Europe, in ... Read more »

Live stream of oil leak in Rayong

Viewers can watch a live stream of the oil spill that has washed up on Mae Ramphueng beach in Rayong province. The Royal Thai Navy and other agencies are working ... Read more »

Live stream of the oil leak in Rayong

Viewers can watch a live stream of the oil spill that has washed up on Mae Ramphueng beach in Rayong province. The Royal Thai Navy and other agencies are working ... Read more »

NTPC Q3 Results Preview: Revenue expected to increase 10-15%, PAT likely to grow 22-25%

State owned utilities company NTPC Ltd (National Thermal Power Corporation Limited) will declare its third quarter results during the day today. Experts expect the country’s largest power producer to report ... Read more »

Trade the events efficiently by knowing what impacts option premium and how: Shubham Agarwal

Options as an instrument first comes to mind when we are in a risky situation, and we want to take a trade. The event of Union Budget is one of ... Read more »

“Central Village Phase Two” opens today with over 300 global brands and special promotions of up to 90% discounts while reaffirming its position as the leading world-class destination for brand-name shopping

• Central Village strives to become “Thailand’s Most Complete Luxury Outlet & Lifestyle Destination” providing an experience beyond brand-name shopping. • Central Village boasts its continued success proven by traffic ... Read more »

Cryptocurrency Prices Today: Markets continue to swim in green as Bitcoin, Ethereum rise marginally

The global cryptocurrency market capitalisation rose 3.07 percent over the last 24 hours to $1.70 trillion while the trading volume over the same period fell by 7.83 percent to $81.35 billion. ... Read more »

Petrol, Diesel Prices Today on January 29: Check rates in Delhi, Mumbai, other cities

Petrol and diesel prices differ from state to state depending on the incidence of local taxes such as VAT and freight charges. (Representative Image) Petrol and diesel prices remained unchanged ... Read more »

Apple's stock racks up biggest one-day gain since July 2020

(Image Courtesy: Reuters) Apple Inc’s shares rallied nearly 7% on January 28 in its biggest one-day percentage jump in a year and a half after the iPhone maker reported blockbuster ... Read more »

Market extends sell-off in second week; IT, realty worst hit, PSU banks outshine

Market extended the sell-off in the second consecutive (truncated) week ended January 28 amid high volatility due to continued FIIs selling and weak global cues on hawkish Fed stance and ... Read more »

Cardboard could be a game-changer as film and TV industry looks to clean up its act

In an industry that in recent years has been encouraged to reduce its environmental impact, cardboard could be a game-changer. It's 80% cheaper than a traditional wood or MDF set, it has a carbon footprint that's 90% lower, and it's 100% recyclable. Read more »

Nike appoints Ann Miller as new executive vice president

Photo by: Kristian Egelund/Unsplash Nike, the American footwear and sports apparel company, announced it had promoted Ann Miller to be its new executive vice president and general counsel. Her assignment ... Read more »

Apple hits revenue record despite chip supply shortage

Apple reported record $124 billion quarterly revenue on Thursday, despite a global chip pinch and shifting impacts of the pandemic that have weighed down other big tech players. The expectations-beating ... Read more »

High inflation to stick this year, denting global growth

Persistently high inflation will haunt the world economy this year, according to a Reuters poll of economists who trimmed their global growth outlook on worries of slowing demand and the ... Read more »

Wall Street rallies, capping frenetic week with best day of the year

Source: Reuters Wall Street surged on Friday, notching its best day so far in 2022 after another zigzag session, ending a tumultuous week marked by mixed corporate earnings, geopolitical turmoil ... Read more »

After Myanmar coup, detainees' families search for answers

In this file photo taken on Nov 10, 2021, protesters burn a picture of Myanmar’s military chief Min Aung Hlaing during a demonstration against the military coup in Yangon. (Photo: ... Read more »

Year of the Tiger: MPF members can expect a rebound in Chinese and Hong Kong stocks to boost pension pot, analysts say

The 4.5 million members of Mandatory Provident Fund, the city’s compulsory pension scheme, are likely to see their retirement savings swell as the Year of the Tiger bodes well for ... Read more »

8,618 new Covid-19 cases, 19 more deaths

People pay homage to deities at a Chinese temple in Bangkok, ahead of the Lunar New Year 2022. (Photo: Bangkok Post) Thailand registered 19 more Covid-19 fatalities and 8,618 new ... Read more »

Oil spill ship off Chumphon to be retrieved within a fortnight

An oil slick off the Chumphon coast in the Gulf of Thailand is seen from a Royal Thai Navy plane on Sunday. (Royal Thai Navy photo) The Marine Department has ... Read more »

Cramer's lightning round: Greenbrier Companies is a buy

Loading chart… ThredUp: “See, that's the kind of stuff [that] used to work. An interesting growth clothing exchange. I've just go to tell you [it's a no-go].” Loading chart… Asana: ... Read more »

Jim Cramer's advice for young investors who want to build wealth in the stock market

Jim Cramer on Mad MoneyScott Mlyn | CNBC CNBC's Jim Cramer on Friday issued a plea to young investors who may be new to the stock market and want to ... Read more »

Oil spill reaches shoreline in Rayong

Royal Thai Navy soldiers in personal protective equipment use special paper to clean oil spill caused by a leak from an undersea pipeline off Rayong province t Mae Ramphueng beach ... Read more »

Boot Barn CEO says the retailer's oil-related apparel sales are finally growing after 2-year slump

Boot Barn CEO Jim Conroy told CNBC on Friday the western apparel retailer is finally seeing sales strengthen in its oil-related categories following a prolonged period of weakness. “At least ... Read more »

‘Cheap' Dutch ski instructor remains in demand in Austria

For a town famed for its après ski, there’s not much going on in Austria’s Gerlos this year. Bars are closed, restaurants are not – until 10pm. The Cin-Cin bar, ... Read more »

Amazon accused of threatening New York union

Photo: ANP The US independent government agency, National Labor Relations Board (NLRB), which enforces labor law, has sued e-commerce company Amazon for allegedly threatening and surveilling employees who want to ... Read more »

Cramer's week ahead: Have your buy list ready for any 'hideous moments'

CNBC's Jim Cramer on Friday previewed next week's major corporate earnings reports after Wall Street capped off a wild week filled with major intraday moves for the major U.S. stock ... Read more »
On free-english-test.com you will find lots of free English exam practice materials to help you improve your English skills: grammar, listening, reading, writing, ielts, toeic