How much money are you having in your wallet now?
Well, let me see, I have a 50 rupee note. To be honest with you, I found it in a barely usable condition from the least hovered corner of my purse. After reading these two lines you people are probably making some assumptions about my financial condition and I can bet you that the rating is quite wandering itself around 2 to 3, 10 being a sound financial state.
The only reason I mentioned the crumpled 50 rupee note which I recovered from the dark corners of my purse is to give you a brief idea of the after-effects of demonetization which somehow has managed to make a greater effect on your bank balance.
When you can’t see something physically, you happen to make assumptions about the same. Well, I am not talking about fantasizing someone but definitely, I am talking about fantasizing something and that something is money, the bloodline of the society.
Here’s a fact, after the demonetization has spread its route quite well in the holy land of India, the digital transaction has increased by 400% – 1000%. Yes you heard it right it’s a huge increase in digital transactions and we have given it a name “Modi effect”.
Want to know the statistics of digital transactions. Click Here
Motive of the sufferer
The very reason why I started writing this article is that lately, I was calculating the amount I spend eating outside, that is eating at restaurants, bars, street shops etc. You won’t believe the amount summed up to become a giant.
A giant that could have possibly re-paid my student’s loan and most certainly my car loan. Believe me, it’s insane. The whole calculation showed a GP (geometric progression) effect after the demonetization had spread its wings to fly.
Do you know the reason of this GP effect?
The reason is very simple, it’s your eating habits which drive you towards the fancy ambiance and delicious aroma of the restaurants. The flickering lights of the street shops, the printed two digit price of foods, and the grilled chicken smoke are definitely lucrative and is too hard to avoid but these are the main culprits behind your wobbly bank balance.
Demonetization has added the icing on the cake. Because of demonetization, we all carry less cash in our wallet and the payments are done using Paytm or by swiping the debit or credit cards.
What generally happens is earlier we all used to cut on few food stalls or restaurants due to unavailability of cash in our purse but now with the havoc usage of Paytm and Card swiping machines we just swipe our debit or credit cards or pay using paytm at every alternate stalls or restaurant by simply following our taste buds and visual hunger.
You see this is the reason why you are going out of your budget, the reason of all your dissatisfactions.
The swiping of your card doesn’t make you think twice because the debit of your money is invisible there, at the same time if you would have paid using cash you could see your money, you could count the number of valuable papers you are giving away. The sense of realization strikes a person when he sees something happening in front of him.
When you see your hard earned extremely valuable cash slipping away from your hand, you try to curb your desires and disregard your taste buds.
Getting to the point
The habit of eating out is your biggest financial downfall. To be frank with you, demonetization is just an added reason but the culprit stands still with a fabulous ambiance, soft music, delicious aroma and “PAYTM is accepted here “hoardings. I personally tried to dissect my love for eating out and travel down the memory lane to find that defining moment which made restaurants an integral part of my life but found nothing. This is a high time that you curb your desire of eating out because the more you will earn the costlier will be your restaurant choices and severe will your bank balance suffer, this is what Lifestyle inflation is.
How to curb this fatal financial desire
Well, I had planned out few things the previous month and had decided to stick to it for a month and see the results. You won’t believe the results are awesome. So, what I made myself understand was:
I will start equating pleasure with family meals around our own dinner table. I bought a nice looking table cover and organized my table to transform it from a dumping ground to an acceptable base to have food.
I planned to cook and bake delicious goodies with my friends. For this, I followed few cooking shows and YouTube videos to learn new, good looking and delicious dishes. The best side of this is now I have a new hobby to say in my job interviews.
I planned to think carefully before swiping my cards or in that case spending a single penny. I made it a habit to check my bank balance quite a few times in a single day, which made me love my money more and spend it less at junk foods. I also joined the gym to get a reason for cutting the junk foods. I constantly reminded myself of becoming a healthy and a fit individual, you know, you get quite an increased number of attention when you look fit!!
Let me reveal the truth
If you spend Rs100 per day to eat outside, which many of us do then in a year you spend Rs 36,500 and in 20 years you spend Rs 7,30,000 and believe me you spend much more than this. So, if I am not wrong then we all have gulped down a whole new black shining Honda city in these 20 years.
I am gonna take some rest and introspect.