Though the exercise is unlikely to be repeated any time soon, demonetisation offers some takeaways that should form the cornerstone of your financial strategy.
1. Don’t wait for a crunch to budget or spend wisely
The first takeaway from demonetisation is also the mainstay of every financial plan: save and spend according to a budget. During the current crisis, people have been forced to first take care of their critical expenses, investments and bills, before considering discretionary expenses, while entertainment and frivolous purchases have been completely done away with.
