International Day of Family Remittances 2022: It’s the time of year when families all around the world send money back to their loved ones. And this week, June 16, is International Day of Family Remittances! Each year, billions of dollars are transferred through the global remittance system, and the United States is ranked as the top receiver of remittances. Here’s a look at some interesting facts about family remittances:
-In 2017, $466.8 billion was transferred internationally through the global remittance system
-The United States received $65.1 billion in remittances in 2017
-The top five countries receiving remittances from the US are Mexico, Philippines, China, India, and Canada
International Day of Family Remittances is a great opportunity to learn more about the benefits of family remittances and to explore ways that you can start sending money back to your loved ones this summer!
| Year | Date | Day |
|---|---|---|
| 2022 | June 16 | Thursday |
| 2023 | June 16 | Friday |
| 2024 | June 16 | Sunday |
| 2025 | June 16 | Monday |
| 2026 | June 16 | Tuesday |
What is Family Remittances?
Family remittances are a vital source of income for many people around the world. They are a way for families to send money back to their homes countries and help support their relatives and friends.
International Day of Family Remittances is celebrated on June 16 each year. It is an opportunity to learn about the importance of family remittances and how they can help improve lives in the countries where they are sent.
There are many ways that family remittances can benefit people in the countries where they are sent. For example, they can help to improve the health and education of children in these countries. They can also help to reduce poverty and malnutrition.
Family remittances are also a valuable source of income for families in the countries where they are sent. This allows them to live better lives and raise their children in a more secure environment.
International Day of Family Remittances is an opportunity to learn about the importance of family remittances and how they can help improve lives in the countries where they are sent.
The Benefits of Sending Money Home
There are many benefits to sending money home to family and friends. Some of the most common reasons people send money home are to help loved ones in need, support family reunions, and celebrate special occasions.
Sending money can also be a way to build connections with people abroad. For example, if you’re a student living in a foreign country, sending money can help you connect with your family back home. It can also help you learn more about the culture and way of life in your new place of residence.
No matter why you send money home, it’s always a good idea to do some research first. This will help you figure out the best way to send money and get the most out of your experience. Happy international day of family remittances!
The Types of Remittances Sent Overseas
One of the most important ways that people connect with each other is through remittances. Remittances are money transfers sent from one person to another person outside of their country of residence.
There are a number of different types of remittances. Some people send money to their family members living overseas. Others send money to help their friends and family members who are living in difficult circumstances overseas. Still others send money to support charitable causes overseas.
Remittances have a lot of benefits for both the sender and the receiver. For the sender, remittances can help them build a financial safety net in case of an emergency. They can also help recipients improve their lives by providing them with financial support.
For the receiver, remittances can provide them with much-needed financial stability. They can also help recipients improve their livelihoods by helping them purchase equipment or expand their businesses.
International Day of Family Remittances is an important day to celebrate the role that remittances play in connecting people around the world.
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How to Send Money Home
There’s never been a better time to send money back home to loved ones! On June 16, we’re celebrating International Day of Family Remittances with some great tips on how to send money home.
Here are a few tips to get started:
1. Choose the right remittance service. There are many different remittance services out there, so it can be tough to decide which one is best for you. Some remittance services offer lower fees and faster transfers than others. It’s important to choose a service that meets your needs.
2. Sort your finances. Before you start sending money home, it’s important to have everything in order. Make a list of all the money you need to send, and then put it in categories like savings, checking, and investment accounts. This will make financial planning much easier when it comes to remitting money.
3. Get organized with a budget planner. When you’re ready to start sending money home, it’s important to have a budget in place. This will help you stay within your allotted funds while still sending enough money back home each month. A budget planner can also help you track your spending over time so you can see where your money is
How to Stay Safe when Sending Money Home
When it comes to sending money home to loved ones, there are a few things that you can do to ensure your safety. First and foremost, make sure that the money you are sending is authentic. Many people use fraudulent methods to send money overseas, and this can lead to serious financial problems for you and your loved ones.
Another thing to keep in mind is the international transfer fee. This fee is charged by banks when transfers between different countries are made. In some cases, this fee can be as high as 10%. Make sure that you are aware of this fee before you send any money overseas. If it is too expensive for you to send the money through normal channels, then consider using a remittance service provider. These providers will often charge much lower fees than banks.
Remember that even if everything goes perfectly during the transfer process, there is always a risk of fraud or theft. Always use caution when sending money overseas, and stay safe!
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Conclusion
This year, on June 16th, the International Day of Family Remittances, we celebrate the gift of family and friendship. Worldwide, families send more than $650 billion in remittances each year—a figure that is growing at a rate of 6%. As the world increasingly becomes a global village where people from all corners of the globe are connected, it is important that we continue to build relationships through family ties. That’s why today we want to remind you about some simple ways you can support your loved ones back home while they wait for you to return. Whether it’s sending money or doing something special like cooking them their favorite meal, letting them know how much you care is one small way to show how grateful you are for their presence in your life. Thank you for being part of our global community—we couldn’t do it without you!
