Ask HN: Do you have any backup plan?
Do you have any backup plan when things will go wrong - business, job, health, etc.?
But nurturing a network of family and friends, keeping reasonable savings, maintaining modest expenses, and having more than one set of valuable skills covers a lot of possibilities. These have come in handy already, and I'm sure they will again.
I would say yes.
That all paid off. I'm 26 now and have a net worth of $125,000 in cash and a $3,000 car.
I'll tell you one thing. It feels empty. It feels like it can be gone at any moment. Lifestyle expenses start to inflate when you live and love in the city. So my networth is actually dropping a few grand every year at this point.
Money and caution usually result in a conservative and decent life, but not necessarily a fun one if you thirst for adventure.
My girlfriend and I dream of the day when we just quit our jobs and live in Thailand on $300 a month per person instead of wasting today at a desk! So be it if it's reckless.
I've discovered that for a lot of things, costs in Thailand aren't specifically cheaper than in western countries, there are just extra cheaper options.
A lot of cheap apartments here are really studios, which have the most minimal or no kitchen at all. A lot of working-class Thai's don't really cook, they rely a lot on street vendors and/or markets for meals. I've been living in a house since we've been here so I don't know from personal experience but I looked quickly for apartments in Chiang Mai. The only things under 4K THB/month (~$120 US) are studios about 30sq.m. E.g. https://www.thailand-property.com/condo-for-rent-in-chiang-m...
A 'single serve' from one of these places locals eat from (street/market vendors) is usually around 30-40 THB (~$1US), but Thai people don't really eat big meals, so if you're used to American portions you may find you eat two serves per meal (or adjust and start snacking more during the day, as most locals do).
If you want to "eat out" at a restaurant, it's going to be much more expensive. If my wife and I go to a sit-down restaurant with western-style food, it's usually around 1K THB for the meal (~$30). If you want something that's much less common and relies on more imported things, e.g. a good steak, that's going to set you back 600 THB minimum per serve.
Travel will depend a lot on where you want to go, and how. Public transport is apparently pretty cheap, but you may reconsider using it once you see it.
You'll also find that most tourist attractions (both private and state owned) will charge you more as a foreigner. I'm able to get around it in some places by showing my Thai drivers licence, but be prepared for higher prices. Sometimes (usually private places) you won't even see the difference because the local price will be written all in Thai, including Thai numerals (which are not common, usually they use arabic numerals like we do).
My phone contract is I think 400THB a month, but I hardly use the allowance - I have unlimited VDSL at home (and work from home). I'm not sure what sort of data/call usage you'd expect to need, but a lot of packages will e.g. promote "free social network data" because that's what the majority of people use - but if you want to work from it, you'll need to allow for that.
I think it'd be tough for anyone who doesn't just assimilate into a low-income Thai lifestyle to get by on less than $1K USD per month. That's still only recent uni graduate salary here. It may sound like a big jump from your original goal, but think about it this way: $1k is about $33 a day. For two people, who want to do more than just basic survival, I think anything less is unrealistic.
Edit: grammar mistake, and errant K on steak cost.
I spend maybe 900-1200 per month here (alone). I consider my lifestyle very 'comfortable-frugal'. As in I spend if I need to make myself comfortable, but I don't spend a lot on party, new 'toys' or other such 'stuff'.
Ah who am I kidding. We moved back for her to pursue a medical career and I just pay my half because I didn't want to be without her :')
I hope you two are very happy and eventually get back to Thailand, or wherever your dream life happens to blossom and thrive.
Live long and prosper.
Personally I am happy that I am able to make enough money to contribute my part and have the flexibility required for her to do her medical school stuff. It doesn't feel like I'm putting my life on hold. I'm in software support-- I don't feel the need to become like, a suit wearing, jetsetting CTO or etc :)
Thank you so much for your kind words and I wish the best to you as well. Also, if you find the magic cure for eating too much and moving too little as a result of returning to a desk job with in-person team, please please please me know what it is because it's my #1 problem right now lol
Don't count calories. Instead, work on getting nutritionally dense foods into you.
I lost several dress sizes. I never counted calories. I just tried to eat healthier.
I think we keep eating as long as we need some nutrient or other. We stop when our nutritional needs are met. This is why eating "empty calories" really packs the pounds on.
Also, try to get some walking in, even if you "don't really exercise." (I mean sports, gym, etc.) Take the stairs, not the elevator. Park a little farther out instead of circling like a vulture looking for the closest spot. Etc.
Rent: 6000 + energy bill
Gym: 1000
Internet: 600
Food: 7500 (250/day)
Laundry: 100 (25/load)
Transport: 1000 (40/ride)
Fun: 1000
Misc: 1000
SEA prices have gone through the roof. The discounts are pretty much over.
The second plan is more important to me, fit people have a lot more chance of surviving adversities.
I wouldn't make so much myself if I didn't enjoy it, but I do so it happens to work for me. I pay for others to do things I don't like, like laundry and heavy housecleaning.
My startup expenses come out of the other free cash I have, so it wouldn't hurt my lifestyle if my businesses failed; I wasn't going to use that money for living anyway.
Health is my main focus, now. I've bought a very accessible house on purpose just in case, but unless the whole country collapses I'm fine financially now until I die, and I'd kinda like that to be a while off.
I was doing something more typical initially, but honestly, just work out what you want your life to be, and then work out how to do that without it being super risky. Much happy.
- 6 months expenses in cash (I'm a consultant, so work can be inconsistent)) - invest about half of my income - have life insurance (but not disability, that's something I probably need soon) - build potentially lucrative products on the side - attend meetups relevant to my field - keep up with the latest developments in my field - exercise regularly and follow a healthy diet - have at least one backup for most problems: - if my car breaks down, I have a bike and bus pass; I've actually picked up a new battery with my bike - if my house floods/burns down, I can stay with family nearby - if my computer breaks, I can borrow my wife's or do most of my work at the library (I have a VPS that's mostly set up for my job, which I use occasionally while traveling) - I keep emergency funds in 3 different accounts, two are local, and I keep a few hundred dollars in cash at home - I have enough food in storage to last a couple weeks - we keep our car at least half filled with gas always, and I have ~2 gallons in my garage (we use it with our lawnmower, so it's fresh) - I have multiple credit cards from multiple institutions
Etc.
I can't plan for everything, but I want to make sure that I can at least survive a few months without any pay.
Beyond the security cushion, it's pretty nice generally. I've taken a couple months off every time I quit my job (and the quitting itself is pretty stress free, don't need to worry about having another gig lined up before I jump ship).
That is also the worst case, in that it assumes I can get nothing at all in terms of income for that long.
I would feel a little better moving it to something more safe than bank account, by which I mean something no government could take from me and which I could take with me should my current country collapse, but at present I am as secure as the Danish Government.
I own my own company and provide multiple consult services, and run a few websites so its highly unlikely that all the services I offer will ever go away. if they do I can fix bikes, houses and electronics.
if my health goes horribly bad I have insurance, I can always work from home if I'm sick.
savings wise I own my house and my car and have enough savings to live on for a long time and put a lot into a 401k and investments but I'm probably way older than a lot of the ppl on here.
I worry about what happens when they're gone. Maybe I'd have to go live with my brother.
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