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In 2019, ** percent of millennials in Thailand wanted to have their own house. Despite this goal, millennials in Thailand had little savings and were extremely influenced by impulsive purchases which led to greater debt levels in that year.

Is it possible for millennials to achieve this dream?

Although slowly improving, financial literacy among Thais is still relatively low which creates difficulties with handling wealth and savings. Thai millennials, in particular, tend to be swayed by luxury products that signify wealth and self-expression, resulting in lower savings than their expected goals. However, with the rise of blockchain and cryptocurrencies, millennials are becoming more interested in getting themselves acquainted with financial knowledge to ultimately meet their spending needs.

Concerns among millennials in Thailand

  It is no mystery that concerns for their financial future are one of the leading factors contributing to stress among millennials. Apart from this, family concerns are also major stress factors for this age group. Younger people in Thailand are expected to provide for their parents once they have a job while also being expected to start and support their own families. Although family values are deeply respected in Thailand, many millennials are departing from this idea which likely contributes to more emphasis on self-expression and more self-indulgent purchasing behaviors.