Krungthai Card Public Company Limited (SET: KTC) notes that a significant number of Thais continue to face major obstacles in personal financial management, with household debt remaining persistently high.
As of 2024, household debt stands at over 90% of GDP—the highest ratio in Southeast Asia. Most debts arise from necessary expenditures, such as consumer loans, mortgages, auto loans, and costs related to education and healthcare, particularly for working individuals aged 30–45 who shoulder family responsibilities and life investments.
Meanwhile, younger generations or those with unstable incomes, such as freelancers, are entering the debt cycle earlier than expected.
Experts recommend a three-step financial “marathon training” approach: Start by setting clear goals, similar to a finish line—such as buying a house, funding children’s education, or having a comfortable retirement—to guide your savings direction.
Next, engage in regular “training” by consistently saving, for instance, 30% of income each month, gradually turning small amounts into substantial savings.
Finally, assess and adjust your plan along the way; just as runners check their pace each kilometer, individuals should review budgets and goals annually to ensure they align with real-life changes.
To ensure smooth financial training, KTC is ready to act as a “financial coach” with easy tools and techniques. These include 0% installment plans to help manage large expenses through structured payments, spending alerts to control your financial pace, and special privileges such as rewards points and cashback—turning every expenditure into an added boost towards achieving financial goals.
