Personal history has brought Newton resident Imran Malek to the board of Women’s Money Matters (WMM) – a non-profit that works with low-income women and girls (as young as 8) to improve their financial health and literacy. WMM is now seeking more volunteer coaches and presenters to join this cause.
How did this journey begin for Malek? It began with a motel. Malek’s mother – single and an immigrant from South Asia – was able to secure the money to buy a motel in New Hampshire with the help of her strong-knit South Asian community.
The support didn’t stop there. Her community helped her navigate the ins and outs of motel ownership and advised her on how to keep her business running.
Over half of motels in the United States are owned by people of South Asian descent, and this share has been built step by step by an informal network of people with a shared heritage who learned to navigate a business niche and passed that information on to others in their community.
“What my mother had was access to a network that most people don’t have the good fortune of finding on their own,” Malek said.
Statistics from the WMM’s fact sheet include:
- In Massachusetts, nearly 1 in 9 women live in poverty.
- Mothers earn 4% less for each child they have, while fathers earn 6% more.
- 50% of women ages 55 to 66 have no personal retirement savings at all.
Malek wants to encourage others to get involved in helping low-income women improve their financial literacy.
“Newton has a real culture of wanting to give back. And for people here who have financial knowledge and want to make an impact, Women’s Money Matters offers a way to do that from wherever you are, on your own schedule,” he said.
WMM is currently looking for volunteer coaches and presenters to provide support and accountability to help participants work towards their financial goals. No financial background is needed.
“When you help someone build financial confidence, you’re not just helping them pay a bill this month,” Malek said. “You’re setting them on a path where they might buy a home, advance their career, or be the person their own children turn to when they need guidance. That’s a generational shift, and that’s what keeps me at the table.”
For Malek, it’s a lesson he learned early — that when one person gains financial footing, it can ripple outward for generations.
