Money-saving strategies to improve your financial literacy

April is National Financial Literacy Month, making it an ideal time to sharpen your understanding of saving and budgeting.

Financial literacy involves making informed and responsible decisions regarding how you earn, spend, budget, invest, manage debt, and save. Effectively managing your personal finances also requires living within your means.

Hawaii Business Magazine Editor in Chief Jen Ablan appeared on Sunrise to discuss strategies for saving money during a period of rising living costs.

Wallethub recently ranked Hawaii 44th in the nation for financial literacy, a ranking based on financial habits, knowledge, education, and planning.

Here are tips to boost your financial literacy:

TRACK SPENDING: Create a budget. Categorize your purchases by needs vs. wants. Cut out expenses that are not necessary. For example, limit Starbucks, take public transportation to reduce car costs, and consider making meals at home versus eating out.

AUTOMATE <a href="https://parentmoneylife.com/2026/09/07/how-to-save-money-on-gas-and-big-savings-on-diesel-labor-day-weekend/” title=”How to save money on gas (and big savings on diesel) Labor Day weekend”>SAVINGS: Remember to “pay yourself first” and consider sigining up for your company’s 401K plan.

MANAGE CREDIT: Review your credit report annually. You can get your free report at annualcreditreport.com

EDUCATE YOURSELF: Take free courses online or from local financial institutions about basic investment principles and concepts like APR interest rates.

LEVERAGE TECHNOLOGY: Use apps to help with budgeting and track expenses. Bank and credit union apps can help you monitor your spending.

Starting with the class of 2030, public school students in the DOE will be required to finish a financial literacy course, which may be offered as a standalone class or incorporated into the current curriculum.