Yes, you can use SharedPreferences for this task.
Even if you read/write your value many times, if you use apply() method, not commit(), the SP API will write the value to the disk asynchronously.
However, if you read the value before it was written on disk, the SP API will give you the value from the memory, thus making it very efficiently to use.
I advice you to make an utility singleton class with public methods like
Later edit: I don't believe I had an argument for making the class a SingleTon. The point is: get the SharedPreference instance only ONCE in the constructor using the ApplicationContext (not the Activity context that you would pass as an argument to the getInstance method) so that it remains valid for the entire life of your app.
This way, you avoid making costly (like getting the SharedPreference instance) in each of the methods (write/read).
This is why, in this case, I advice for SingleTon vs public static methods