Financial planning is a crucial aspect of our lives, especially when it comes to managing our finances and fulfilling our obligations. In this article, we will explore the story of Aissatou Guisse, a Microsoft employee in Atlanta, who faces the challenge of sending money back home to her relatives in Senegal while also trying to save and build wealth for herself and her family.

Navigating the Tug of Financial Obligations

Background and Family Move

Aissatou Guisse grew up in Ohio after her family moved from Senegal when she was eight. Her father won a green card lottery and brought the rest of the family to the US a year later. Growing up, she witnessed her parents sending money back home to relatives and was unaware of the details at the time. As she grew older and started working, the responsibility of sending remittances became more prominent in her life.

After graduating from university and getting a tech job, Aissatou moved to Atlanta and then joined Microsoft. She now works in compliance and security. Despite having a stable job, she has struggled with saving and budgeting due to the pressure of sending money home and not being able to say no to requests.

The Monthly Remittance

Aissatou started financially supporting her relatives around 2015. Her mom was sending money to her grandma in Senegal every month even after she stopped working. When Aissatou started working, she took over this duty and now sends $250 a month to that household. Her aunt and uncle, who don't work and have eyesight issues, use the money to buy groceries.

In addition to the monthly payment, she also makes one-off payments when needed, such as when someone is sick or getting married. In 2023, remittances from the diaspora accounted for 10% of Senegal's GDP, highlighting the significance of this financial support.

The Cultural Pressure

Aissatou has faced cultural pressure when it comes to sending money home. She once showed her Excel sheet to a financial advisor, which included payments to relatives, and was advised to max out her Roth IRA and say no to supporting her parents. Her Brazilian friend also questioned her spending when he saw her Excel budget.

Senegalese culture is particularly focused on not getting other people's hopes down, which makes it hard for Aissatou to say no to one-off requests from family members. This has led to a lack of disposable income and difficulty in meeting savings goals.

Setting Boundaries

Having a child inspired Aissatou to make some changes. With the additional expenses of raising a child and no longer having a company that subsidizes costs, she realized she needed to set realistic boundaries.

She now tries to stick to a budget and has opened a bank account with her siblings, where they each contribute $20 a month. When someone calls from home, they can use this account to send money. She still sends the monthly money to her grandma's household but is more critical about making one-off payments. She once said no to a relative who asked for a $2,500 loan to set the expectation that she has other responsibilities.

Her advice to others in her position is to not feel guilty for putting themselves and their families first. It is important to find a balance between fulfilling our obligations and taking care of our own needs.