At IDEAS, we meet hardworking families every day, like Sofia and Sebastian, who are determined to turn challenges into opportunities. Their story reflects what so many binational families experience: managing remittances, growing businesses, and planning for an uncertain future—all while navigating life across two countries.
Sebastian moved from his small town in Mexico to Michigan, chasing better wages in the auto industry. He knew the sacrifices would be worth it if he could send money home to his wife Sofia, who runs a small convenience store. Every month, Sebastian sends $1,000 through FINABIEN, a remittance service with low fees and a branch in Sofia’s rural community. The service also provides a debit card, which Sofia uses to buy supplies online and even save a little for her family in Guatemala.
But managing remittances is just one piece of the puzzle. Sofia realized her shop needed to grow to stay competitive, but competition in her small town was fierce. That’s where IDEAS stepped in.
Turning Remittances into Investments
When Sofia met Ximena, the FINABIEN branch manager trained by IDEAS, everything began to change. Ximena had learned how to teach women like Sofia to make remittances work harder—whether by investing in their businesses, saving for emergencies, or even purchasing livestock to create new income streams. These simple but powerful ideas gave Sofia the confidence to try new things.
For example, Sofia invested in CETES, Mexican government bonds that offered a stable 11% return in pesos. It was a smart way to save while preparing for the ups and downs of Sebastian’s job in Michigan. She also started teaching her children about saving money, reducing the pressure to spend on things they didn’t really need.
Growing a Business with Guidance
Sofia knew she needed more than savings to grow her business. She explored credit options and discovered Caja Popular Mexicana, a credit union that required clients to save before accessing loans.
It was a slow process, but Sofia understood that good things take time. IDEAS helped her compare loan options using a government calculator, and she eventually borrowed 10,000 pesos to invest in her shop.
IDEAS walked alongside Sofia and Sebastian as they worked out a repayment plan that combined part of Sebastian’s remittances and Sofia’s shop income. While interest rates in Mexico are high, careful planning and informed decisions helped them manage the loan responsibly.
Planning for Financial Stability
One of Sofia and Sebastian’s smartest moves was learning about credit. IDEAS taught them the importance of building credit history while avoiding debt traps. Sofia got a credit card from a FinTech company to cover emergencies, and Sebastian used his U.S. credit card with lower interest rates for larger purchases. They always prioritized paying off their balances to stay in control.
Why IDEAS Matters
Sofia and Sebastian’s journey is exactly why IDEAS exists. We provide the tools, training, and support families need to make informed decisions about their money. Whether it’s teaching someone how to compare loans, invest in their business, or save for the future, IDEAS helps families turn hard-earned remittances into long-term stability.
Binational families like Sofia and Sebastian are the backbone of their communities, both at home and abroad. With the right guidance, they’re not just making ends meet—they’re building better lives for themselves and their children.
At IDEAS, we’re proud to be part of their story. We believe that with the right support, every family has the potential to turn today’s challenges into tomorrow’s opportunities.
Be Part of the Change
At IDEAS, we’re committed to empowering more families like Sofia and Sebastian to overcome barriers and achieve their dreams.
Your support makes stories like Sofia and Sebastian’s possible. Join us in transforming lives—one business at a time.