Like many western equivalents, Thai tax brackets work like filling buckets – once you reach the maximum of the bottom bracket, you move onto the second bracket and so on.
Many international schools negotiate health insurance plans with insurance companies for their expat employees. This collectivity gives more negotiating power and spares teachers the time-consuming process of seeking out an appropriate policy.
Saving for retirement or even just for a rainy day is often the last priority – quite literally ‘putting money aside’. Another approach is to pay yourself first before the electricity company, the bank etc.
Financial planning can be a complex business. That may not be the most controversial statement you read today, but it is something frequently overlooked.