Introduction
Would you ever stop sending money back home if you discovered what your relatives were spending that money on? This thought-provoking question forms the basis of today’s discussion.
Let’s start with some interesting statistics on remittances to Zambia. According to the World Bank, remittances to Zambia increased by a staggering 80% between 2020 and 2021, amounting to over $240 million. Clearly, people in the diaspora remain deeply committed to supporting family and relatives back home, regardless of their location or citizenship.
A study by the International Organization of Migration confirmed this, revealing that over 55% of Zambian respondents send between $200 and $3,000 monthly or quarterly to their families.
But what happens when you find out how that money is actually being spent? Would you still send it?
A Personal Story
This question arose for me during a casual Saturday at the salon. While scrolling through YouTube, I stumbled upon a fascinating video featuring young people from various diasporas—African, Asian, and others—sharing why they had stopped sending money back home.
One story stood out. A young lady from Guinea,@fatouseghir living in the U.S., shared her experience. She had been sending $400 to $800 monthly to her family, only to discover during a trip home that her relatives—who often called her in desperation—were actually living better lives than she was.
Lifestyle Comparisons
In her video, she described the stark contrast between her modest lifestyle abroad and her relatives’ extravagant spending habits back home. She found them frequenting expensive salons, dining out, and generally living luxuriously, often funded by the money she sent. It was a wake-up call for her, prompting a drastic change in her approach to financial support.
From then on, she decided to only send money for urgent needs, such as medical emergencies or children’s education. Routine expenses like rent or personal luxuries were no longer her responsibility.
Key Takeaways
Her story raises important questions for anyone supporting family back home. Here are some key questions you should ask yourself if you’re sending money home:
- Are you funding a real need or a lifestyle? It’s essential to distinguish between genuine financial needs and unnecessary extravagances.
- Do you have boundaries for sending money? Decide how much, how often, and for what purposes you’re willing to provide financial assistance.
- Is sending money affecting your financial security? Supporting family is important, but not at the expense of your own financial well-being.
For a deeper dive into this topic check out our video:
Investing in Zambia
While helping family is commendable, securing your own financial future is just as crucial. One way to achieve this is by investing back home, whether through property ownership or other ventures. By doing so, you can create lasting value for yourself and your loved ones.
At Diaspora Connect, we specialize in helping Zambians abroad safely and reliably invest in property back home. If you’re ready to take that step, our team is here to guide you every step of the way. Contact details are available below this post.
Final Thoughts
So, would you ever stop sending money back home? We’d love to hear your thoughts. Share your experiences in the comments below, and let’s have an open discussion about this complex but important topic.
For practical tips on managing financial assistance and navigating the “black tax,” watch our other video:
And remember, whether it’s buying property or finding safe investment opportunities, we’re here to help you build your future in Zambia.
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