My parents invite my gf to visit denmark every year (I live in thailand) but the Danish embassy still require money in her account. We just transfer to her account a week or 2 before we go apply for her visa, and never had any problems.
I think the first question you should ask yourself is if Thailand is going to be your forever home or if it's just for a few years.
A few years are easily doable, but making Thailand your forever home is in your situation not that easy.
You can get by for a few years on ED and visa run/border bounces, and if you study in a UNI you can add a few years. After that, your only 2 options will be getting a job or purchasing the elite visa (passive income won't grant you LTR)
I wouldn't find it particularly funny, trying to set up a life with my family in Thailand, not knowing if the next border run was gonna be my last, or finding myself on the wrong side of the border with no way to enter Thailand.
Many people will tell you that your budget is plenty, and it might be so. It all depends on location and your lifestyle expectations.
If a small Thai townhouse/house or condo is what you need, your favourite food is Thai and you choose a place away from the tourist sites. Then you will have plenty.
If you expect a Western standard of living and settle down in a popular spot, then you might struggle.