In today's digital era, UPI has become an important part of our daily transactions. From buying vegetables to paying bills at big shopping malls, the need to carry cash has reduced as payments are made in a matter of seconds. However, some reports have shown that this convenience is also having a different impact on our spending habits. Around 81 percent of people use UPI in their daily transactions. On an average, a person transacts up to Rs 200 every day through UPI.

Money is spent on small things.
Because of UPI, you're less likely to notice cash passing through your hands when spending money. Therefore, money is often spent on small things, even when they're not needed. For example, payments of 10, 20, or 50 rupees can be easily made using UPI. However, when paying in cash, we might think a little more about such expenses.

How much money can be saved in a year?
Let's assume that a person spends an average of ₹200 per day through UPI. This amounts to approximately ₹6,000 per month. If 15 to 20 percent of this spending is due to ease of payment and the habit of making spontaneous purchases, then approximately ₹900 to ₹1,200 of unnecessary expenses can be avoided each month. This means that approximately ₹10,800 to ₹14,400 can be saved annually.

Where to avoid UPI payments?

However, this doesn't mean that completely discontinuing UPI is the only way to save money. UPI has made many transactions easier and safer. Therefore, instead of discontinuing digital payments, it may be more appropriate to limit spending. UPI can be continued for groceries, travel, and other essential expenses. However, a fixed weekly or monthly limit can be set for online shopping, eating out, or non-essential purchases. This way, unnecessary expenses can be controlled while maintaining UPI convenience.

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