Embedding Remittances: A Methodological Note on Financial Diaries in Nicaragua

Abstract

In response to the methodological challenge of embedding remittances to counter dominant development discourses, this paper aims to contribute to remittances research by discussing financial diaries in Muy Muy, Nicaragua. Based on longitudinal and integrated quantitative and qualitative tracking of migrant household practices, financial diaries facilitate explorations of the social and contextual dimensions of remittances that may help account for their heterogeneous character. In particular, the paper highlights the partiality of diaries as well as the translocal interdependency and irregularity of household practices, providing clues for integrating remittances instead of isolating them as neutral instrumental transfers. It uses the example of household debt to further anchor remittances locally, illustrating how financial diaries can expose the changes and considerations that are part of household practices, including remittances. The paper concludes by suggesting that financial diaries need a decisively qualitative framework and may be particularly useful in contexts characterised by multiple migrations.

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“…Diaries may enhance financial literacy and thus have a direct impact on financial behavior and outcomes, reducing the validity of diaries as a measurement instrument [29]. At the same time, recall error and distrust are reduced through repeated interactions with respondents, but even then, possibly stories within the household 'will not add up' when household members keep transactions hidden from each other [30].…”