Is going cashless better for everyone?
Money in this day and age is a sure necessity and in keeping in sync with this factor, you definitely need to make sure that you have a decent amount in your bank account. However with the demonetization strategies you definitely need to keep in mind the inconveniences caused. A major portion of the working class such as the domestic help, mechanics, plumbers, drivers and electricians are going to be affected by this policy. It is not always possible to find the sufficient number of currency notes to pay their wages and as such, inconveniences are created for them and their families. Many moneyed people do use cards to pay their bills but in immediate cash payments, even they face plights.
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While going cashless may be better for the banks, it may not prove as effective for the clients. This is because many times the automated teller machines are crowded which creates tensions and problems. It also paves way for complete lack of cash in these machines due to the heavy mass demand. Above all, it may be convenient to go cashless but in some cases, it does pose a problem.
You can think of your immediate spending needs and keep aside the money for the same. Use your card to pay the remaining bills. A budget plan is always very important.