Community Champion: Kamilah Williams

I have always wanted to help people. It has driven my career choices and continues to drive my decisions today. I chose to become an economist because economics is focused on human behavior in the face of scarcity. I initially tried to elicit change by becoming a research economist, advising on economic policy. However, I quickly became frustrated with the slow pace of the policy process and distance of the policy effects from those it was supposed to help.

My first opportunity to share economic principles with the broader society came during the financial crisis of 2007-2009. At the time, I was watching the proverbial world fall apart around me at work as key economic indicators fell. But the crisis hit home when my mother, who was a few years away from retirement, lost a significant part of her retirement savings during the financial crash. This provided me with the opportunity to use what I learned as an economist for the greater good. I was able to teach my mother the skills she needed to budget, save, invest, and recoup her losses. As she rearranged her finances and built back her savings, I saw her confidence in her ability to control her financial future grow. I saw the happiness in her eyes when she was able to discuss her desired yields with her financial advisor. Together, we were able to build back her savings and she is currently enjoying a comfortable retirement. This experience led me to leave government, pursue a doctorate, and start a career in higher education, with the goal of getting the same results as I got with my mother with the wider community.

Most professors live for the “aha” moment when their students get a concept that they are explaining. I have seen that look on many people’s faces as they realize they can make a big difference in their lives with a few small changes. I particularly enjoy sharing information with those who feel excluded from the benefits of the financial system and cannot control their financial futures. Economists “think on the margin,” where we focus on the impact of small changes. For most people, making all-or-nothing decisions is hard and as a result, most people do nothing. I believe that making tiny changes, such as spending 30 minutes a week looking at your budget or putting $5 per week into an investment account, is extremely powerful. These small changes can make a huge difference to your financial future.

Starting Changes Financial Coaching was the first step toward achieving my goal of sharing financial literacy with the broader community. My position on the Georgia Financial Educators Council’s Advisory Board takes me one step closer to that goal. The GFEC’s initiatives will empower our neighbors and friends through financial wellness, and I feel honored to be a part of these campaigns to make a real difference in my community.