Aurum
Download

Sending Money Home

Cheaper transfers compared on total cost, a steady monthly sending routine, an emergency pot, clear records and honest agreements with the family you support in the Caribbean.

Free · Mac (Apple silicon) and Windows · v1.0.0 · Other platforms

Then open the Marketplace in the app, search for Sending Money Home, and click Install. It goes into your own files, and works offline from then on.

Before you start: this plan is general information to help you organise your own money decisions. It is not financial, investment, tax or legal advice. Check decisions that matter with a qualified, licensed adviser in your country, and remember that investing and trading can lose money.

What it installs.

1

Pillar

1

Area

50

Projects

199

Starter tasks

🌴 Caribbean Life & Diaspora

Sending Money Home

Sending money to family in the Caribbean: comparing transfer services and fees, a regular schedule, emergencies, records and agreeing expectations with family.

  1. Map of who you support back home
  2. Monthly remittance line in your budget
  3. True cost comparison of transfer services
  4. Mid-market rate and exchange margin explained
  5. How each relative prefers to collect
  6. Recipient names and ID details check
  7. Primary and backup transfer provider set up
  8. Family conversation about what you can send
  9. Transfer receipts and reference number log
  10. Locking down your transfer apps and accounts
  11. Monthly sending day routine
  12. Rate check before each transfer
  13. Receipt confirmation loop with family
  14. Quarterly provider and fee review
  15. Yearly remittance totals summary
  16. Back-home emergency money pot
  17. Paying bills back home directly
  18. Sharing the support among siblings abroad
  19. Yearly review of the family arrangement
  20. Credit union savings slice for family back home
  21. Caribbean currencies, pegs and floating rates
  22. Remittance scams and how to spot them
  23. Why transfers get held and how to clear them
  24. Fees on the receiving end
  25. Teaching a parent to use a mobile wallet or banking app
  26. Cash pickup safety for relatives collecting money
  27. Sending home on an irregular income
  28. Switching a relative from cash pickup to bank deposit
  29. Helping a relative open a bank account back home
  30. Monthly versus fortnightly sending, costed
  31. Groceries ordered online for family back home
  32. Turning ad hoc requests into a fixed allowance
  33. Choosing which currency the money lands in
  34. Cutting back the amount without a family fallout
  35. Christmas money sent early
  36. Back-to-school money for September
  37. Same-day emergency transfer plan
  38. Large one-off transfer with paperwork ready
  39. Carrying cash on a trip home versus sending ahead
  40. Paying a relative's exam or college fees from abroad
  41. Supporting a child raised by grandparents back home
  42. Talking with your children about the money sent home
  43. First transfers as a newcomer abroad
  44. Sending home on a seasonal work contract
  45. Sending home on a pension or fixed income
  46. Child maintenance to a co-parent back home
  47. Transfers to places with tight banking or currency shortages
  48. Effective exchange rate tracking over a year
  49. Remittance evidence file for visa or sponsorship applications
  50. Who keeps sending if you cannot

Where it starts.

Each project arrives with its purpose, milestones and first tasks written out. Here is how the first three read.

Map of who you support back home

Most people who send money home could not say, without checking, exactly how much went to whom last year. Writing down every person you support, what the money is for and how often it goes gives you one page to plan from, and it shows where an informal promise has quietly become a monthly bill.

First tasks

  • List everyone you have sent money to in the last year
  • Pull last year's transfers from your bank and app history
  • Note what each payment usually covers
  • Total the year and write the figure at the top of the page

Monthly remittance line in your budget

Before deciding how much to send, you need to know what your own household can carry after rent, bills, savings and debt repayments. Giving remittances their own budget line, fixed in advance, means you send what you can afford rather than whatever is left after a hard request.

First tasks

  • Write down your monthly take-home pay and fixed costs
  • Agree a monthly remittance figure with your partner if you share money
  • Add the remittance and its fees as a separate budget line
  • Decide in writing how you will handle requests above the line

True cost comparison of transfer services

Fees are only half the price of a transfer: the other half is hidden in the exchange rate, which can be several percent worse than the rate quoted on the news. Comparing three or four services on what actually lands in your relative's hand for the same amount shows which one is cheapest for your corridor, for example London to Kingston or Toronto to Georgetown.

First tasks

  • Pick the exact amount and destination country you usually send
  • Get quotes from three or four services on the same morning
  • Record fee, rate and amount received for each in one table
  • Choose the provider that lands the most money for your usual transfer

Make it yours.

Install Sending Money Home, then tell Aurum the date you're aiming for. It checks whether the plan fits the weeks you actually have.

Free · Mac (Apple silicon) and Windows · v1.0.0 · Other platforms

Blueprints are general information to help you organise your own work. They are not medical, financial, legal or other professional advice. See the Terms.