Note ban gain: Shopping splurge down, savings up
Students and private sector employees in Bhopal have claimed that cash crunch after demonetisation helped them save more. A cap on cash withdrawal after the November 8 recall of high-value notes has shrunk spending, they said.bhopal Updated: Dec 27, 2016 10:41 IST
Students and private sector employees in Bhopal have claimed that cash crunch after demonetisation helped them save more. A cap on cash withdrawal after the November 8 recall of high-value notes has shrunk spending, they said.
Kavita Sharma, a resident of Saket Nagar, said, “We are a family of four. I used to spend ₹18,000 to ₹20,000 on household expenses and grocery purchase. After the note ban, we initially faced difficulties in getting money. Not being a tech-savvy, I depended on cash, and now am able to manage everything in ₹10,000.”
Avid shoppers and people fond of going out for eating have changed their ways.
“I am too fond of clothes. I need everything matching -- from a pair of sandals to sun glasses; so I spent too much on shopping,” said Deepika Notani, a student in Bhopal.
“After demonetisation, I am always left with a limited amount in my wallet with which I have to manage my meals also. I have reduced my shopping and saved about ₹4000 this month.”
Mothers are happy that their children have cut down on seeing movies and eating at outside joints.
Nisha Dhariwal, a mother of two, said her children were eating home-cooked meals after understanding the importance of money. “My kids are fond of fast food; we ate outside at least twice a week, or ordered a home delivery. After the note ban, this (eating home food) was the first change I saw in their habits, and am happy that they eat healthy now.”
Though hassled by cash crunch, private sector employees said they would not have understood the value of money but for demonetisation.
“I was a spendthrift. After cash withdrawal was limited, I was wondering when would the curbs go, and how will I manage my expenses. Ultimately I became conscious of my spending, and only spent where I need to,” Sakhil Barjatya, an engineer, told HT