appreciate it or criticise it call it a political move or one done for the greater good of the country to eradicate black money demonetisation posed challenges for all of us during the note ban a lot of us including the prime ministers mother stood patiently in long queues to deposit and withdraw money that genuinely belonged to us many saw their financial plans and household budgets go awry here are few personal finance lessons that you can learn from last years demonetisation episode that can make you moneywise 1 dont hoard cash start investing undoubtedly cash offers great flexibility and liquidity but hoarding it is not a good idea just keep minimum the required cash in hand your money wont grow idling in your locker at home or in the bank account even for risk averse people there are good options like public provident fund ppf national savings certificate fixed deposits and so on even the contingency fund that youve created to meet unforeseeable crisis should either be invested in instruments that offer higher liquidity or at the least be kept in a savings bank account small business owners should also try and deal as much as they can in noncash transactions like cheque payments or net banking creditdebit card payments 2 dont be shy to adapt tech during demonetisation mobile wallets and other digital payment options witnessed a surge in volume and value of transactions the note ban was less painful for those who were comfortable using mobile wallets or epayment options and for those who had start from the basics of using digital payments found the going tough considering the governments aim to make india a less cash economy going forward usage of electronic payments will only go up on a daily basis like in your office canteen fuel station and so on use your mobile wallet wherever possible it will not only make you less dependent on cash but it will also help you manage your money in a more efficient manner especially if you dont make a note of your expenses as you can check the transaction history in your mwallet and curb unwanted expenses 3 use plastic money using debitcredit cards is not just convenient but it is much safer than carrying a huge amount of cash in your pocket besides you also get to avail various cashback offers and discounts from paying your rent to filling fuel in your car to online shopping plastic money offers good incentives over cash transactions however when swiping your credit card do so judiciously and dont fall in to a debt trap by not paying your bills on time 4 be an honest taxpayer cash deposits over rs 2 lakh made during demonetisation were required to be disclosed in while filing income tax returns itr for the current assessment year ay 201718 accounts that made cash deposits over the given limit were under the it lens and some were even served with notices to explain such high