Wednesday, November 30, 2016

Demonetization and Money Matters

After our PM’s bold decision of demonetization, a different side of India is seen these days. People have suddenly started realizing the value of cash and whole marketplace has changed a lot.
We have been watching the news of people distributing water and tea to the people standing in long queues on the television.   But I myself have personally observed people helping others at various locations. When I went to fuel station to fill in fuel in my vehicle, one person had old note and he didn’t want to fill in full amount of fuel. The attendant was forcing to do so. Another person in the queue came to rescue and gave him the change of the old note. One of my relatives has actually waived off several bills in his hotel if person genuinely don't have new currency. In ATM queues, even though the queue was very long but when a pregnant lady came in the queue, automatically all the people ahead of her gave her way. I see strangers informing me about no money in ATM, even when I am looking at the ATM casually. Everybody is in the same situation and everybody understands that. J

There are many people who haven’t yet visited bank or branches…. And they are just adjusting somehow… and I am proud to say I am one of them…   If you are old reader of this blog, you know that I would plan and observe some n number of No Spend Days in given month in my monthly goals. So, I have survived till date without much cash. I only had problem initially for vegetables and grocery shopping.  I did search all my old jackets, purses, wallets, bags n what not for some little extra cash. I have totally avoided my monthly visit for grocery shopping to the wholesale market and to my surprise, it is going well. I am using all the items in my kitchen shelf for cooking.  I needed cash for some fees for my kids school too.  I have managed it by having some cash from a friend while I transferred same amount of funds to her account online.  Now since the month end is approaching, I will need to pay some of the bills in cash and that I need to take care. Well meanwhile, it doesn’t mean that I haven’t had my shopping attacks in this period. Yes, I have had but difference is I have spent considerably lesser amount in such time. I had looooots of shopping for me and my kid, all wrapped up in Rs.450 only.  Once when I am feeling very -- for myself and I have those “Bahut ho gaya, Now I have to have to have to spend on myself” wala shopping attack, I do buy anything, even if its not needed. Can you believe I have bought a little MAC Kajal of Rs.2400 when I had several types of Kajal already with me. But that’s fine. Such feelings come to me once in six months only.  (Whoo… what a relief… bank account saved…. J ).

Many local bodies have started with different offers where daily utilities are sold at some discounted rates, many shopkeepers, auto drivers have gone cashless after this decision and so on.  One of the radio stations is offering various vouchers for hoteling/salon/movies etc as their No CaSh November campaign.  Needless to say, I had already won one of these vouchers.  (Some of my old roommates just react by saying, do you still win at those contests?  J . Yes, Baby, you only win when you participate and I do participate. I don’t tell you about 18 times when I don’t win but I do announce those two times out of 20 when I actually win the prizes. So, people think that I always win. )

But because of all this situation, I got chance to review my investments and savings. Generally, I have tendency to “Invest and Forget”. Over the long run, it generally generates good returns. But in some cases, this doesn’t hold true and I have suffered losses too. This habit I will have to change. Once again, this thing was encountered. Had taken a note of this and will have to do something about this. 

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