All tagged Migration

Why remittances are “dollars wrapped with care”

When I was growing up in Mexico, my mother made it very clear to my siblings and I that we couldn’t afford everything we asked for. My father lived and worked very hard in the US for half of the year to support our family of 5. Each time my father sent money from the US, my mom used it to pay bills, buy food, clothing, fund our education and so on. Because my mother was good at budgeting and tried to stretch each dollar as much as possible, she had no problem saying ‘No’ to our pleas for toys or gadgets. This situation is a common experience for millions of families all over the world. When an individual from an immigrant community sends money to his or her home country, this transaction can be defined as a remittance. Millions of families’ economic livelihoods depend entirely on remittances.