I remember learning how to write a check when I was 9 years old. I was at a Junior Achievement workshop my mom forced me to attend on a Saturday. We each received a fake check, used pretend money to make a purchase, and reconciled it in a check register. Little did I know that would be the extent of my financial literacy education as a young adult.
And I know I’m not alone. I’ve often heard others lament that they wished they learned about saving, credit cards, loans, and credit scores in school. Well, their dreams have come true!
The Hawai‘i Department of Education (HIDOE) announced earlier this year that, beginning with the 2026-27 school year, all Hawai‘i public school students must successfully fulfill a financial literacy education requirement and verify completion before graduation.
Schools have flexibility in how they meet this requirement, whether through a standalone elective course, integration into existing classes, self-paced learning, or another approach that aligns with HIDOE’s financial literacy program standards.
To learn more about what students can gain from financial literacy education, we spoke with Bunny Tanaka, community impact section manager at Hawaii State Federal Credit Union (HSFCU). Tanaka has spent years developing financial education programs, leading workshops, and creating resources to help people make informed financial decisions. From building healthy financial habits to understanding credit, here's what she wants young people to know before stepping into adulthood.
Financial educator, Bunny Tanaka. Photo courtesy Bunny Tanaka
Financial literacy is a life skill
Tanaka believes financial education deserves a place alongside traditional subjects. “It’s one of the most important life skills we can teach our students,” she says. “Many people graduate with strong academic knowledge but little understanding of how to manage their money, build credit, save for the future, or avoid debt.”
Financial decisions can shape major milestones, from attending college and renting an apartment to buying a car or a home. Tanaka says students are better equipped to navigate those challenges when they learn financial basics before entering adulthood.
“Financial literacy should be a requirement for all students because it helps ensure every young person has access to essential money management skills, regardless of their background or financial experiences at home,” she says.
Why students struggle with money
Even in a world of online banking, mobile payment apps, and digital wallets, many young people still have trouble making sense of core money concepts.
The three topics that tend to cause the most confusion are saving, budgeting, and credit.
“They know they should save, but they don’t always understand why saving is so important,” Tanaka says. “Setting money aside creates a cushion for unexpected expenses, helps young people reach important goals, and reduces reliance on debt.”
Credit is another area that often trips students up. Many don’t realize how quickly interest charges can accumulate when credit card balances aren't paid in full.
“Poor credit management can also negatively impact credit scores, which can affect future opportunities such as renting an apartment, purchasing a vehicle, qualifying for a mortgage, or obtaining favorable loan rates,” Tanaka says.
Learning through real-life experience
Knowing a financial term is one thing. Making decisions with a limited budget is something else entirely.
That's the idea behind HSFCU’s Reality Fair workshop, a hands-on simulation that asks students to make financial decisions based on assigned careers, incomes, and life circumstances.
“Financial concepts come to life when students can experience them in a realistic setting,” Tanaka says. “Experiential learning allows them to apply that knowledge and see the consequences of their decisions in a safe environment.”
Participants must account for housing, transportation, food, emergency funds, and other expenses. As they move through the exercise, they quickly see how one decision can affect many others.
“We’ve found that students are often surprised by how quickly expenses add up and how important it is to have savings for unexpected situations,” Tanaka says. “Those ʻaha’ moments are powerful because they help participants see how classroom lessons apply to everyday life and long-term goals.”
Budgeting is a skill that can be learned!
More than dollars and cents
For Tanaka, the lessons extend far beyond budgeting and credit scores. “My hope is that students take away much more than financial knowledge,” she says. “The bigger goal is helping them build confidence, responsibility, and strong decision-making skills.”
She also hopes students recognize that financial habits can change from one generation to the next. “The way a family has managed money for generations does not have to define the next generation,” Tanaka says. “Students have the opportunity to develop new, healthy habits, make informed choices, and create a different financial future for themselves and their families.”
Investing in Hawaiʻi's future
For Tanaka, the new graduation requirement represents an investment in students’ long-term financial well-being.
“The financial literacy graduation requirement is an important step, but it's really about preparing students for life,” she says. “Every student deserves the opportunity to graduate with practical financial tools that can help them navigate everyday money decisions and future financial milestones.”
Looking back, that fake checkbook taught me only a small piece of what I needed to know about money. If the new requirement succeeds, today’s students will enter adulthood better prepared for the financial realities that come with growing up. That’s a lesson that can pay dividends long after high school.
Continue your financial well-being journey
Earning money is one piece of the puzzle. This financial well-being series explores ways to earn extra income, save more effectively, and make informed choices with your money. Start with our first installment, then explore more tips for building healthy financial habits.
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