"I've saved so much I don't know how to save any further." This reflects the sentiment of many Thai households.
This echoes the reality for many Thai households who work tirelessly yet never see money left in their accounts. They often resort to borrowing and loans monthly because wages remain stagnant while living costs soar ahead.
Recent data from SCB EIC (Siam Commercial Bank Economic Intelligence Center) shows this situation is widespread. According to the 2025 Thai Household Economic and Social Survey by the National Statistical Office, based on a large sample of 57,600 households nationwide,
the painful truth emerges that "Thais are facing deeply rooted wallet emptiness and overwhelming debt," with six dangerous economic signals burdening the population.
1. First income decline in six years
The average household income dropped immediately by 2.5% compared to 2023, particularly work-related income (salaries/wages), which shrank significantly. This clearly reflects that the so-called economic recovery is slow and uneven, with money concentrated among high earners, while daily wage workers see income decreases.
2. Survival reliant on "financial aid"
As earned income falls short, Thai households increasingly depend on government aid or other sources. Assistance funds surged by 19.4%, contrary to declines in all income types. Vulnerable groups earning no more than 15,000 baht per month rely on aid and non-cash income for nearly 60% of their total earnings.
3. Tightening belts to the extreme; cutting wherever possible
Average Thai expenses declined by 5.4% due to lack of purchasing power. Non-essential items (non-foods) were slashed by nearly 10%, while necessary spending on food, beverages, and medicine slightly increased by 0.6%, illustrating a lifestyle of mere survival day-to-day.
4. Overall debt decreases, but poor households’ debt rises!
Nationally, household debt fell by 11.8% as banks tightened lending and people focused on paying off old debts (deleveraging). However, those earning 15,000 baht or less per month bucked the trend, with debt rising by 1.9% due to no choice but to borrow to offset lost income and cover living expenses.
5. More than half struggle with insufficient income, and two-thirds face cash shortages
Alarming statistics show that over 50.39% of indebted households face income shortages. Among those earning below 15,000 baht monthly, about two-thirds (approximately 66%) experience cash shortages.
Liquidity is so tight it barely allows movement, and this risk will worsen in 2026 as inflation and living costs are expected to accelerate further.
6. Vulnerability dragging down Thailand’s economy
When citizens lack money, income growth slows, debt becomes overwhelming, and spending is highly cautious, the inevitable consequence is "a sluggish private consumption sector," posing a long-term structural risk that could increasingly hinder Thailand’s economic growth.
Given the problem seems beyond what people can fix by "just saving more," SCB EIC sees government intervention as necessary through two dimensions:
Source: SCB EIC
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