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Demonetisation: Develop digital spending strategy

Use a limited number of payment options and track the expenses

Arnav Pandya 

In the wake of demonetisation, you would have adopted several digital modes of transactions to deal with the shortage of cash. There is widespread expectation that the shift will make life easier. In reality, it will give rise to a new set of complications. The proliferation of multiple modes of digital money, from credit cards to online wallets, means individuals need a clear strategy in place before begining to use them.   Multiplicity of instruments   Many instruments are now available for digital payments. First, there is the debit card handed to you as soon as you open a ...

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Demonetisation: Develop digital spending strategy

Use a limited number of payment options and track the expenses

Use a limited number of payment options and track the expenses In the wake of demonetisation, you would have adopted several digital modes of transactions to deal with the shortage of cash. There is widespread expectation that the shift will make life easier. In reality, it will give rise to a new set of complications. The proliferation of multiple modes of digital money, from credit cards to online wallets, means individuals need a clear strategy in place before begining to use them.   Multiplicity of instruments   Many instruments are now available for digital payments. First, there is the debit card handed to you as soon as you open a ... image
Business Standard
177 22

Demonetisation: Develop digital spending strategy

Use a limited number of payment options and track the expenses

In the wake of demonetisation, you would have adopted several digital modes of transactions to deal with the shortage of cash. There is widespread expectation that the shift will make life easier. In reality, it will give rise to a new set of complications. The proliferation of multiple modes of digital money, from credit cards to online wallets, means individuals need a clear strategy in place before begining to use them.   Multiplicity of instruments   Many instruments are now available for digital payments. First, there is the debit card handed to you as soon as you open a ...

image
Business Standard
177 22