Mexican Financial Diaries set out to obtain granular, long-term, provider-side data about the financial lives of low income Mexicans. This data was used by BANSEFI to better understand and serve this market segment. Detailed information gained from these households would impact the way BANSEFI decided to administer the distribution of social transfer payments such as Oportunidades, and offered insight into new features of products that low income customers demand.
What is the financial behavior of low income Mexican families who receive the government conditional cash transfer Prospera, previously known as Oportunidades? What are their needs? The Mexico Financial Diaries project aimed to shed light on how low income Mexican families manage their money and the unique constraints they face.
The Mexico Financial Diaries followed 185 families in three locations (Mexico City, Puebla, and rural Oaxaca) representing three very different examples of Mexican life. Our research team visited these households approximately every two weeks over the course of a year, from early 2014 through January 2015 to interview families about all financial activity and events in their lives.
Photo credit Adriana Zehbrauskas