Sunday, April 28, 2013

Immigrants Pay Lower Fees to Send Money Home, Helping to Ease Poverty

Carmen Gonzalas fights for the importance of being able to spend money to family members outside of America in order to help them through tough times. Ms. Gonzalas also tells of her daughter making it to college after she saved for three years to buy her daughter a lap top.She uses this story to emphasize the importance of a financial transformation by new technology and increased competition that has "driven down the average cost of sending money to Mexico by nearly 80 percent since 1999." The cost of sending money out of the U.S. has also declined sharply and has helped towards easing poverty of immigrants. Not only will these things help the immigrants, but it will help decrease poverty in other countries as well and even help immigrants earn higher wages here in America.


Natalie Newman
http://www.nytimes.com/2013/04/28/us/politics/immigrants-find-it-cheaper-to-send-money-home.html?pagewanted=1&_r=0&ref=us

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