Overspending widespread among Bangkok youths: poll

Some 1,500 Bangkok youth representatives yesterday vowed to apply His Majesty the King's sufficiency-economy theory to their daily lives after a poll revealed that some city children were spending over Bt500 a day on themselves.
Bangkok youths spend Bt101-Bt200 a day on personal expenses on average, while 4 per cent dish out over Bt500, Amornrat Kritayanuwat, director of the capital's Community Development Division, said yesterday. Her statistics came from an Abac Poll conducted earlier this year on 1,223 respondents aged 15 to 22. Sixty-eight per cent knew they were overspending, and many admitted they could not control themselves, she said, while 47 per cent said their families had financial problems and criticised them for their spending habits. Making youngsters work is the best way to teach them the value of money, 55 per cent said. Having them draw up personal budgets and educating them about the sufficiency economy were other suggestions, Amornrat said. The poll results prompted the city to enlist its youngsters in a campaign aimed at getting one million people to swear to practice sufficiency economics. An event was held at the Police Club yesterday for the youths to make their pledges and to teach them the value of saving, making out personal budgets and following the middle path as they led their lives, Amornrat said. An 11th-grade student, Abhisit Kerdmon, said he would adopt the concept by putting Bt20 of his Bt70 daily allowance in a piggy bank. He said his family already grew chillies and basil at home to save on grocery bills. Despite the government's campaign for sufficiency economics, no well-known figures besides His Majesty have set a good example, the boy added.
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