April is National Financial Literacy Month

LANSING, Mich. — Michigan Treasurer Rachael Eubanks is calling on Michiganders to check out the new Michigan.gov/MiMoneyMatters website for a free personal finance education program in April during National Financial Literacy Month.

The site provides access to free, on-demand learning tools such as: 

• Financial Checkup — Get a financial checkup and personalized recommendations in less than five minutes.
• Money Personality — Discover your money personality and see how it affects your money decisions.
• Budget Tool — Use the Budget Tool to build smart spending habits by keeping track of expenses.
• Borrow Smart — Learn how to “borrow smart” and manage your student loan repayment options.

MI Money Matters has interactive tools, videos and articles covering budgeting, mortgages, health care, college savings, student loan repayment, banking, credit, financial planning, long-term care and more.

“Financial education is critical to the success of Michiganders through every stage of life,” Eubanks said.

“We invite all Michiganders to empower themselves with the free resources available through MI Money Matters this April during National Financial Literacy Month. Financial wellness is an important lifelong habit.”

The state treasurer’s appeal comes as a new Michigan Department of Treasury statewide survey of Michigander households with annual incomes below $125,000 shows 4 of 5 say they have never received any formalized education or training in household finance. That includes:

• 78% of metro Detroiters who have not
• 77% of West Michigan residents who have not
• 81% of residents in Central/East Michigan who have not
• 84% of Northern/Upper Peninsula residents who have not

The free tools available at Michigan.gov/MiMoneyMatters will help the:

• 40% of households under $125,000 who aren’t confident in their ability to create a debt paydown plan
• 35% who struggle to create a monthly budget
• 47% who find saving money difficult

More than 75% of the survey respondents would like to learn more about key financial topics such as investing, building an emergency fund, saving for retirement and creating a household budget. Just 1 in 5 Michiganders surveyed reported having ever taken a class or training on household finances.

“Unfortunately, a lack financial knowledge can lead individuals to take on higher-interest loans, accumulate credit card debt and fail to save up for emergencies,” said Eubanks. “These issues trap people in cycles of debt that could have been avoided altogether.”

Eubanks added that National Financial Literacy Month provides resources and information which can help minimize obstacles while increasing financial wellness.

“National Financial Literacy Month is the perfect time for Michiganders of all ages to learn how to gain better control of their finances and build a stronger future for themselves and their families,” said Eubanks. 

Michigan is the 14^th state in the U.S. to guarantee that its students have access to a personal finance education course before high school graduation. A bipartisan bill passed by the state Legislature in 2022 and approved by Gov. Gretchen Whitmer mandated that personal finance classes be offered to all Michigan students starting with ninth graders in the fall 2025 academic year.

The Treasury Department’s study methodology consisted of an online survey among 900 Michiganders recruited from a national consumer panel. The online survey was fielded Feb. 13-25, 2025, with an average completion time of 11 minutes. Respondents were screened by criteria that included being age 18 or older, residing in Michigan and having annual household incomes of less than $125,000.