5 Handy Financial Tips In This Cash Strapped Economy

Anshu Jain, Technology Evangelist, Co-Founder of Movesure Techologies | Mumbai | November 28, 2016 16:33 IST

Recently in India Rs 500 and Rs 1000 denomination notes were demonetised, leaving Indian consumers in a helpless state.Below are a few services which are available online which can make their life easier in these testing times.

Anshu Jain
With the demonetisation of Rs 500 and Rs 1000 bank notes taking the Indian economy and social media platforms by storm, we are all facing inconvenience due to shortage of cash in hand in one way or another. Hence, we need to find more ways to survive without cash and save our existing cash until the ATMs are replenished with cash and there are fewer queues both in banks and outside ATMs. In order to save valuable cash now, we need to shift our focus to online service providers to buy the stuff that we usually buy offline.
 
We are suggesting five online services below, you can stick to in this cash-crunched economy:
 
Grocery: We are all used to buying our groceries from the first local shop or vegetable vendor that serves our needs. Grocery being a fundamental daily requirement needs to be purchased from time to time, especially vegetables. In this cashless situation, where our local grocers are turning down our old 500 and 1000 notes, online grocery stores can come to our rescue. With the facility to pay online, doorstep delivery and attractive discounts, we can rely on online grocery stores like Big Basket and Grofers.
 
Public Transport: A major cash puller for office-goers, students, and others who commute daily is public transportation. Most of us pay for bus, metro recharge, taxi and cabs, etc. in cash. To save on this daily cash consumption, you can choose to pay online. You can recharge your metro card through apps like Paytm, book buses and shuttles through Ola shuttle and Make My Trip, book cabs online via Ola and Uber to save your valuable cash.
 
Local Shops Accepting Paytm: There are many local shops that accept payment through Paytm. So, you can recharge your Paytm wallet and carry out the transaction from these shops in case you prefer offline shopping over online. You can meet almost all of your grocery needs here and maintain your cash in hand balance easily. Just scan the bar code in the app and you are done in a click.
 
Food Online: This is not unique because a significant number of people already order food online. A lot of tired office-goers and students, who are dependent on the nearest eatery, can instead order online and pass out to pay in cash. Moreover, food order and delivery sites are flooding with heavy discounts and offers right now like Zomato and Swiggy. The choice is yours.
 
Home Relocation Services: With the year end approaching, many home lease agreements are also about to end. Thus, the mad rush to find a new abode in this cash-crunched economy. From packers to movers, we have all paid in cash for most of our lives. However, in the present situation it is wiser and more practical to use new age relocation services that accept payment online.
 
There are a plethora of other services which can be availed online without having to pay in cash. One of the honorary mentions in this category would be online shopping for apparels and accessories, so skip on street shopping for a while. Briefly, to save your neck from the ill effects of demonetisation, you can have a crack at these services.
 
The author, Anshu Jain is a Technology Evangelist, Co-Founder of Movesure Techologies Pvt. Ltd.
 

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