Those who are living in Thailand or planning on moving to Thailand would be very smart to have at least some of their income in the form of Thai Baht. This will help you weather the storm of a strong baht as it minimizes (or eliminates) the need to bring in your Dollars, Pounds or Euro. Obviously this can be difficult for retirees as your visa doesn’t allow you to work, but what about your significant other?
It seems to me that for many of the guys who are married or have girlfriends that the ladies don’t work. Is that because they are caring for the kids, because they don’t want to work or because you don’t want them to work? I realize that the pay for Thais is usually quite low, but that depends on your significant others career too. Considering the loss of 35% of many peoples’ income due to the strong baht maybe it makes sense for the family to be earning as much baht as possible now and holding off on converting other currencies.
I know for us, she wants to work when we return to Thailand and honestly having that extra buffer of Thai baht coming in will be a huge advantage to our budget, especially if the baht continues to strengthen. It will allow us a cushion in our budget and will mean we aren’t forced to pay for everything from my own dollar denominated savings.
I also notice that for every Thai couple we know (living in Thailand) both partners work. It’s obvious that many Western customs are finding their way to Thailand and the dual income family seems to be one of them. I suppose that can be thought of as either good or bad depending on your own sensibilities.
I didn’t mean this post to put anyone in a negative light, rather I am just interested to know others feelings on the subject of both partners working outside the home, especially in light of the possibility that some may be struggling due to the current exchange rate dips for their home countries currencies.