Are you making the minimum monthly payments on your maxed-out credit card bills but still buying new things? Do you owe your friends money because you “forgot to bring your wallet”? Do you own a car you can’t drive because you don’t have enough money for gas? If you answered yes to any or all of these questions, it’s likely that you are in some kind of debt.

Many Thais are spending money they don’t have and digging themselves deeper and deeper into the proverbial hole. If you’re one of the unlucky souls suffering from an acute case of “what the hell was I thinking when I bought that?” syndrome, the one and only way to get yourself out of debt is to actually pay your way out of it. The question is how to come up with the cash. Our experts offer a few suggestions to help you cope with your financial woes:

Hit up the ’rents

Cast that financial burden onto someone else, like your parents. Mommy and daddy have been taking care of your freeloading ass up until now, so why not ask them to bail you out one more time? Your parents are a prime source of some interest-free cash, but of course you’ll have to work out the terms and conditions of the loan with them. This solution obviously doesn’t work for everyone, but hey, if your parents are willing, don’t be shy!

Be like water

Think about liquidating some of your assets: sell your stuff. Cash is short, your 9-5 salary ain’t all that and you’ve got collectors breathing down your neck. Being attached to your personal belongings is one thing, but being attached to your fingers is another. Get the point? Hit up pawnshops, weekend tailgate markets and classifieds in papers or online. No matter where you sell it, don’t think of the cash as “free money”–put it toward your debts immediately so you won’t be tempted to spend it on something else.

2 become 1

Many people in debt have multiple maxed-out credit cards and a number of loans, and for some reason seem reluctant to let any of them go. If you can cut down the number of payments you’re making—by consolidating loans or credit card bills, for example–you will be able to pay off the remaining ones sooner and accrue less interest. Dumping your car may be the best way to lighten your debt load and pay off a substantial chunk of your credit card debt. Cancel any cards that you have been able to repay completely, leaving just one for emergencies. Actual emergencies.

The Old Switcheroo

You may feel that life’s not worth living if you don’t carry the right brand of handbag or dine at the right restaurants, but if you’re getting into debt because of social pressure, you need to get over it. Know your limits and prioritize your needs. You can still have your morning coffee, but get it from the street vendor, not the chic café. If you can cut back on unnecessary expenses, you’ll be out of debt sooner and you’ll be able to put that money toward something you really care about later on.

We begin this first installment of Money Talks with the story of rapper MC Hammer. In the early ‘90s, “Hammer,” as he was famously known, was on top of the world thanks to his booty-shaking hit “Can’t Touch This.” He made tons of money and spent it on multi-million dollar homes, expensive cars and closets full of stylin’ baggy pants. It was a true rags-to-riches story, and it seemed the good life would never end.

Six years later, after a trio of increasingly unsuccessful LPs, Hammer filed for bankruptcy.

What can we learn from the demise of Hammer? One, it doesn’t matter how much you have, it is still possible to lose it all—and quickly, at that. Two, just because you’re making cash now, don’t assume that you’ll always be rollin’ in it. (Plus there’s this thing called old age, which will affect your ability to earn money.)

Everyone, even pop stars (especially pop stars), should save a bit for the future. Even if you’re in your first job and the pay is lousy, you should still get in the habit of saving so that you’ll have a substantial nest egg for those rainy days or for future investments. Here are some options.

Stash some away

Saving has always been and will continue to be one of the best things you can do with your money. Instead of blowing all your earnings on toys for your entourage, set some aside. The general rule is 20% of your monthly earnings.

The obvious thing to do is keep the money in a savings account, which won’t earn you much in interest but is safe and easy. If you’re a little more adventurous, you can put your money in a certificate of deposit, or “CD.” You can make a bit more with a CD, but if you touch your money before the time is up (usually for three, six or 12 months), you’ll be penalized. FYI—different banks offer different fixed interest rates, so shop around.

Stocks

You can make a lot of money in the stock market, but you can also lose a lot. You make money two ways: One, you sell stock for more than you originally paid for it. Two, you receive “dividends”—a share of the profits—from the company that issued the stock. When “playing” the stock market, you can choose from doing it all yourself (Internet trading) to having professionals do it all for you (mutual funds [see below])—and everything in between.

Mutual funds are like stocks in that you buy shares, but what you are buying is a share in a “basket” of potential money-makers, things like stocks, government bonds and precious metals. This option is great for people with little time and/or limited trading knowledge and experience.

Gold

Gold these days is hot, hot, hot, with the price soaring to record levels. It is usually popular during times of uncertainty, such as now. Most of us think of Yaowarat gold shops selling necklaces and other accessories, but more serious options include purchasing gold bars or coins. Note that buying gold doesn’t necessarily mean carrying it home with you, if you’re worried about safety or throwing your back out.

Real estate

One good thing about buying real estate is that you can live in your investment. So money that you would be “throwing away” (rent) instead goes toward something you will eventually own. Even if you don’t sell it for as much as you paid (loan plus interest), it’s still a “forced saving plan”—you’ll have money in the bank when it’s over that you might not have if you had rented. One bad thing is that there’s a lot to worry about: getting a loan, mortgage payments, upkeep, depreciation and so on.

Just do it

The possibilities are endless. These are just the basics. Even if you don’t have that much money to invest, keep it simple and in the bank and save up for future investments. You’ll want to set up a separate account for this—and, to avoid the temptation to spend that money in a Hammer-like moment, don’t get an ATM card for this account!

The sweet aromatic smell of Bangkok air pollution with just a hint of lethal carbon monoxide gives way to an abruptly pungent shot of freshly brewed coffee that doesn’t seem to leave your olfactory senses alone. What is it you ask? It’s that new coffee bun phenomenon that has taken Bangkok by storm. The warm, buttery and unusually high level of caffeine-fortified coffee frosting is the latest “craze” to satisfy your sweet tooth and with the invasion of the foreign coffee bun shops popping up all over town, how do you know which is best for you?

Coffee Dome

Carrefour Rama 4
2929 Rama 4 Rd., 02-661-5580-4. Open daily 9am-11pm.

Origin: The no. 1 bun chain in Singapore, Rotimum, has entered Bangkok under the name of Coffee Dome and is known for their use of top quality imported ingredients.

Taste: Buns are rich and buttery with softer bread, a lighter coffee frosting and are not nearly as greasy as the competition.

Variety: They’ve got just the big standard B25 size with the butter filling.

Best For: Early rising, in the park walking grandma and slightly obese, hyperactive children who really shouldn’t be drinking or eating any kind of growth-stunting coffee products.

Mr. Bun

Seacon Square
904 Srinakarin Rd.,02-721-8888,
Open Mon-Fri 10:30am-9:30pm, Sat-Sun 10am-9:30pm.

Origin: The first Malaysia bun to hit the scene in Bangkok.

Taste: Big buns are good, but the smaller buns pack a punch and are a little healthier because they’re dripping with margarine instead of butter.

Variety: Two sizes, large B25 and equally flavorful smaller, cuter buns B10.

Best For: Bangkokians from the outskirts and office workers who read Thai soap opera magazines and eat street vendor fruit at their desks while gossiping about other co-workers.

Roti Boy

Next to Nooddi, Siam Square Soi 4, 02-658-4483. Open daily 8:30am-10pm.

Origin: An import from Malaysia, Roti Boy has made the biggest splash among Thai bun lovers. They’ve got killer recipes and killer lines to boot. 

Taste: Coffee lovers just love the strong coffee frosting, but the buns are a bit tough and a tad too greasy. Just take a look at those grease-stained bags.

Variety: So far in Thailand, only one large bun in one flavor: butter. B25

Best For: Portly ladies with really tall blue hair, gold medallions and a lot of time and money who can pay people to wait over two hours in line for them (on a good day).