An Australian couple revealed how they have cut a staggering $24000 from their annual spend by moving to Chiang Mai in northern Thailand.
Freelance journalist Michelle Hammond, 31 and her fiancé Jason packed up their ‘cosy’ suburban life in Elwood, Victoria and moved to Thailand earlier this year – and they haven’t looked back.
‘I knew Chiang Mai offered low-cost living and that the savings I’d make would mean I’d be in for a nice lifestyle upgrade,’ Ms Hammond said.
‘I didn’t realise just how good the value was. Now I’m settled in, I’ve a good handle on my budget and the savings I’m making run right across the board, from the essentials to the little luxuries.’
The couple saves more than $10,000 a year on rent, $5,000 on transport and $2,600 on dining out – all while living an ‘upgraded lifestyle’.
Rent Saving: $10,932
Whether you’re a homeowner or a renter, housing is one of the biggest costs in Australia.
‘In Melbourne, my partner Jason and I paid $1,738 (plus bills) for a two-bedroom apartment in an old building with no amenities,’ Ms Hammond told International Living.
‘This worked out to $400 a week, cheap by Melbourne standards.
‘Compare this to our modern condo in the trendy Chiang Mai suburb of Nimman, which comes with a pool, gym, sauna, library, rooftop area and more.’
Their rent now costs 20,000 baht (about $827) a month – considered expensive by local standards but it’s less than half the cost of their rent in Melbourne.
‘Friends of ours rent a much older place, with no amenities, in the neighbouring area of Santitham for 7,000 baht ($290) per month,’ Ms Hammond said.
Transport Saving: $5,824
‘Cars are expensive to run. Back in Melbourne, it cost me at least $50 a fortnight to fill up my Hyundai Elantra – that’s $1,300 a year, just on petrol,’ Ms Hammond said.
‘Add to that the cost of insurance (in my case, $812 for comprehensive cover) and registration ($800), and you’re looking at a total of $2,912.
‘Multiply that by two (Jason’s car expenses were roughly the same as mine) and the grand total is an eyewatering $5,824.’
The pair has no need for a car in Chiang Mai as everything the couple needs is within walking distance.
‘If we do need to travel somewhere, we can catch a Grab (Thailand’s version of Uber) for as little as 68 baht (about $3),’ she said.
Massages and Beauty Treatments Saving: $3,832
Ms Hammond used to dread going to a hair salon because of the dent it left in her budget.
‘Every six weeks, I’d fork out about $250 for a cut, colour and blow-dry. I also used to treat myself to a pedicure ($30) every three months, which meant my beauty expenses – not including cosmetics – would set me back around $2,120 a year,’ Ms Hammond said.
‘While beauty treatments aren’t dirt-cheap in Chiang Mai, there are still savings to be had. A cut, colour and blow-dry starts at around 2,850 baht ($118), while a pedicure is about 300 baht ($12). That’s an annual saving of $1,128.’
Then there’s the savings on massages.
‘You can get a full-body, one-hour, oil massage for as little as 200 baht ($8),’ Ms Hammond said.
‘In Australia, that same massage would set you back at least $60. Let’s say you treated yourself to one massage per week. That’s an annual saving of $2,704.’
Dining Out: Yearly Cost Saving: $2,600
‘We love eating out but back in Melbourne, we always felt a little guilty if we didn’t cook the bulk of our meals, purely because of the cost,’ Ms Hammond said.
‘I estimate we spent at least $150 on either restaurant or takeaway food every week. Even takeaway Thai would cost about $40 for both of us.’
But in Chiang Mai the savings are huge as they can eat fresh, authentic Thai food for a quarter of the price.
‘The other night, we spent 220 baht ($9) for two servings of pad Thai, a plate of pork ribs and two mango shakes,’ Ms Hammond said.
‘We eat out every single night in Chiang Mai for about $100 per week. Compare this to our weekly restaurant/takeaway spend in Melbourne and we’re saving about $2,600 a year on dining out.’
Drinks Saving: $806
Michelle and Jason aren’t big drinkers, but they’ve noticed a considerable difference between the price of drinks in Chiang Mai compared to Melbourne.
‘Back home, a beer would cost about $10,’ Ms Hammond said.
‘Here you can sip on a cold brew for as little as $2. Even if you only drank one beer a week, that’s a saving of $416 a year.
‘Beer isn’t the only refreshment you’ll pay less for. You can pick up a fresh fruit shake (literally just your fruit of choice, mixed with crushed ice) for 30 baht (about $1.25) or a delicious smoothie packed with different ingredients for 60 baht ($2.50).
‘In Australia, fresh smoothies cost upwards of $10. Assuming you enjoyed just one smoothie every week, that’s an annual saving of $390.’
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