Goal setting: Mapping your short and long-term financial future

JPMorganChase offers a comprehensive suite of youth financial education initiatives, providing resources ranging from bite-sized budgeting modules to multi-year mentorship programs. Their primary offerings span digital tools, community-based workshops, and philanthropic career pathways.

For most young people, financial goal setting starts out vague: save more, spend less, figure it out eventually. For Joel Carrasquillo, that changed once he stopped waiting for a full-time salary to start learning how money actually works.

“Growing up, I realized that financial education isn’t something many young people are taught, even though it affects almost every aspect of our lives,” Carrasquillo said. “I didn’t want to wait until I was making a full-time salary to learn how money works. I wanted to understand investing, budgeting, saving, taxes and how people build wealth over time.”

Carrasquillo, who connected with the Minnesota Spokesman-Recorder through Al Riddick of Game Time Budgeting, said his financial education has been self-driven rather than tied to a single program. But the mindset shift, he said, has been just as significant as any specific skill.

“The more I learned, the more I realized that money is really about options and opportunities,” Carrasquillo said. “Good financial decisions today can create the ability to help your family, invest in your future and serve others later on.”

That perspective, he said, is shaped in part by his faith. “As a Christian, I also believe that everything I have ultimately belongs to God,” he said. “Instead of asking, ‘How much can I accumulate?’ I try to ask, ‘How can I manage what I’ve been entrusted with wisely?’ That perspective motivates me to continue learning and growing financially.”

Carrasquillo said his approach to goal setting has become far more specific over time. “At first, my financial goals were pretty broad. I knew I wanted to save money and invest, but I didn’t always have a clear roadmap for how to get there,” he said. “As I’ve learned more, my goals have become much more intentional and measurable.”

Rather than aiming to simply “be financially successful,” Carrasquillo now sets concrete milestones: savings targets, preparation for major life transitions and consistent investing with the long term in mind. “One thing that has changed the most is realizing that financial planning isn’t just about numbers, it’s about creating habits,” he said. “Building good habits early is what gives you freedom later.”

This summer marks a major transition for Carrasquillo, who is preparing to move to Pennsylvania to begin his career in Vanguard’s Technology Leadership Program. “That means building an emergency fund, budgeting carefully for moving expenses, furnishing an apartment responsibly and avoiding unnecessary debt while starting this new chapter,” he said.

His long-term goal looks beyond his own financial security. “My goal isn’t simply to become wealthy. I want to build enough financial stability that I can genuinely bless other people,” he said. “Whether that’s supporting my family, giving generously, mentoring young people or helping someone else pursue opportunities they wouldn’t otherwise have, I want my finances to become a tool for impact.” To get there, Carrasquillo said he focuses on consistency over speed: continuous learning, regular investing and living below his means.

Asked about his biggest challenge, Carrasquillo pointed to something many young adults face: the pull between enjoying the present and preparing for the future. “Social media constantly shows expensive lifestyles, luxury purchases and instant gratification, and it’s easy to compare yourself to what everyone else seems to have,” he said. “I’ve learned that comparison can become expensive.”

Instead, he tries to stay anchored to his own goals. “Every financial decision is either moving me closer to the future I want or further away from it,” he said. “Keeping that perspective helps me stay disciplined and reminds me that delayed gratification often leads to greater opportunities down the road.”

Carrasquillo said expanding access to financial education isn’t just about individual outcomes, it’s about generational change. “Financial education isn’t just about teaching someone how to budget or invest. It’s about giving people confidence to make informed decisions instead of learning through expensive mistakes,” he said. “When young people understand money, they’re better equipped to avoid unnecessary debt, build wealth responsibly, support their families, start businesses, purchase homes and invest back into their communities.”

For Carrasquillo, that ripple effect is the whole point. “Financial literacy creates opportunity,” he said. “And when more people have access to that opportunity, entire communities become stronger. Success becomes something that can be shared rather than something that’s achieved alone.”

For more information about the Youth Financial Education Series or to learn about partnership opportunities, contact admin@spokesman-recorder.com.

The Youth Financial Education Series is supported by JPMorgan Chase.