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Made good changes in your shopping activities or general lifestyle after demonetization? Share here what you did or learned post-demonetization in India.
  • Category: Miscellaneous

    What good change happened to you or what did you learn new from the demonetisation

    The demonetisation or rather the withdrawal of 500 and 1000 rupee notes w.e.f. November 8, 2016 has affected us all in one way or other.

    There would have been some change in our life or life style since then. Some of us would have discovered ways of frugal and economical living. A few of us would have learned about the new methods pf payment and would have adapted it. Some of us would have dug into our idle currency savings and made them productive savings. One or more things like that in each of us daily life.

    Please post how the demonetisation effected changes in you.
  • #586180
    Demonetisation has not actually affected me, as I am used to plastic money usage for most of my expenditures. In few instances it has affected me like when I had to pay to my maid, or purchase vegetables.
    Even problem of purchasing vegetables and fruits also ended as the shopkeepers started accepting e-wallet payments within few days.
    It has been easy for me, as I stay in metro but I believe that all are not as fortunate as me. People are facing hardships and also small business have suffered a lot.
    One thing did change that, now when I have cash, I try to avoid spending it and always find a way to use digital money or plastic money. I did become a little bit frugal with cash spendings.

    What I actually learnt from demonetisation is that, I had started to understand the pain of others or poor people when they don't have money and bank account like my maid. There must be millions like them who must be facing problems.

  • #586186
    Yes after demonetization announcement some definite changes did take place in my life as some high denomination currencies which were kept at the home itself to meet emergencies has been deposited in the bank for more secure and it will now bear some interest too. Secondly there was a tendency of some people to ask for some money as credit and they would replenish the same after few days. That has been stopped. Moreover the spend thrift of every one and me also drastically reduced as we are supposed to walk with money step after step. So only essentials are addressed and no luxury attempts please,
    K Mohan
    'Idhuvum Kadandhu Pogum "
    Even this challenging situation would ease

  • #586219
    It is after the currency withdrawal situation that I knew and felt the effect seriously, that I have not generated PIN for my renewed credit card. I could not withdraw money from ATM, and had to go to bank only. Fearing the crowd, I went on postponing visiting bank and somehow extended whatever small sum of money I had like elastic.

    I could resist my urge of purchasing non-essential during the period.

    It was only after the discussions and debates started that I took time to learn about adapting the UPI, but regretfully came to know that my bank has not started implementing it. I had decided to go for it once my bank starts it and the same gets stabilised.

  • #586251
    I learned that my decision to maintain my savings accounts in two different banks - one PSU and the other a private one was a good decision. I also learned that my practice of paying almost all bills through internet banking or by use of debit/credit card was useful.
    Let us encourage each other in sharing knowledge.

  • #586301
    I have firmly kept away from the temptation of buying once in a while indulgences like a chocolate bar or an ice-cream as I want to keep the smaller denomination notes I have for essentials.
    When people come at you with their worst, you should come at them with your best (advice given to Selena Gomez by her mother, quoted in Time magazine.)

  • #586343
    Today I was talking to a general shop vendor about the swipe machine. I felt happy when he said that he is thinking of installing one, because he found from others that by installing the machine credit out-go can be less. That was a new lesson to me. I appreciated his business acumen. He told me that demonetisation could have been brought earlier and then he would have been earning more profit using machine.

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