Your credit card balance due amount is: 0..... Wow, am I not spending?

Hi --

Hope you and family are doing safe, during this COVID time. My prayers are with you.

Last few months, I saw my credit card due amount is ZERO. I had similar situation almost 15 years back, where I intentionally avoid to use credit card to do savings.  OK, what happened now?. Of course,  it is due to COVID.  However I wanted to analyze the spending patterns, places etc.

 

1. Fuel Bills - Twice a month, sometimes it is more than that due to travel

2. Multiplex & Restaurant Bills - Twice a month for sure

3. Super Market Bills - Every weekend or weekly twice (Vegetables, Fruits,  Groceries etc)

Due to COVID, yes, it is completely understandable about #1 (Fuel) & #2 (Multiplex/Restaurant). However, what happened to #3?  :)

Every day, we are still using vegetables, fruits, groceries, snacks, milk etc. How are we paying?, From where are we buying? 

Answer is:  Government has shut down all air-conditioned shops and malls. We are buying all the mandatory items from local shops or small vendors, who don't have digital payment options. Since they don't accept cards, we have to pay through CASH. Metros, big cities could be an exception here.  I am talking about rural, panchayat, municipality etc, in India.

Summary: We are still spending for mandatory items, but with CASH.  We are withdrawing cash from ATM and spending. However, we noticed that, we are spending "little" more than what we used to spend for #3, since most of the times, the vendor will say "no change".  :(. Also, vendors charge different price for different people.

What I wish for: :)

1. Soon, every small vendors and shops are equipped with digital payment options with less txn fees.  People are still scared of hidden costs in banking txns. Hope, all these will be transparent and simple soon.

2. Fast, easy, quick, secure and anonymous payment options to all vendors. Like GooglePay & Mezu.

3.  Complete digital payment everywhere in my country. i.e. in all rural areas, panchayat areas, town panchayats and municipalities.

Thank you. Wishing you to be safe and secure. 

We will catch up in the next one. If you have any comments, please leave here or reach out me. :)