The sembrando vida program and the promotion of savings initiatives in three municipalities of Veracruz, Mexico

Abstract

As part of Andrés Manuel López Obrador’s federal administration, the 2021-2024 Social Economy Promotion Program was published in December 2021. This program specifi that, through the Sembrando Vida Program, actions promoting savings, production, and consumption will be encouraged based on social economy practices to optimize beneficiares ’ income utilization. The objective of this study was to determine whether the Sembrando Vida Program has positively impacted the development of a savings culture among its male and female beneficiaries by mandating the retention of a percentage of the monthly subsidy they receive individually. To this end, 30 beneficiaries from three municipalities in Veracruz were surveyed, all of whom had either received or were about to receive their savings. The results show that only five individuals will continue to save a portion of their accumulated amount. However, the majority (86.7 %) expressed their intention to continue saving even after the mandatory requirementends, indicating that an individual savings culture has been fostered