News Release from US Financial Capability
Financial capability of adults in Hawaii can be measured by focusing on four key components:
Making Ends Meet. 24% of individuals reported that over the past year, their household spent more than their income.
Planning Ahead. 60% of individuals lack a "rainy day" fund to cover expenses for three months, in case of emergencies such as sickness, job loss or economic downturn.
Managing Financial Products. 21% of individuals reported using one or more non-bank borrowing methods in the past five years.
Financial Knowledge and Decision-Making. On average, individuals answered 3.1 out of five financial literacy questions correctly. In addition, 60% of individuals said that, when obtaining their most recent credit card, they did not collect and compare information about cards from more than one company.
FULL TEXT: http://www.usfinancialcapability.org/geo.php?id=Hawaii