How to Set Your Child Up for Financial Success

Teaching them at a young age to set goals, work within a budget and save for the future are just some of the ways.

A young girl smiles at the stack of cash she's holding.
(Image credit: Getty Images)

Financial literacy is one of the most crucial skills a person can possess, providing the knowledge and tools necessary to achieve financial success.

With only 57% of American adults being financially literate, a strong education in personal finance is more critical than ever. An understanding of financial literacy can have a profound impact on children’s future success and well-being, fueling financial independence and thoughtful financial decision-making. In order to achieve this, we must establish financial goals for our children early, by teaching them strategies for success, helping them envision and plan for their future and empowering goal fulfillment.

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Kerim Derhalli
Founder and CEO, Invstr

Kerim Derhalli is the founder and CEO of Invstr, an award-winning financial education and investment app. Invstr’s mission is to empower everyone to take charge of their financial future. Invstr has been downloaded over 1,000,000 times by users in over 220 countries. Prior to Invstr, Derhalli built a 30-year career building, growing and managing multibillion-dollar businesses at leading financial institutions all around the world.