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The urgency of the problem of formation and improvement of the level of financial literacy of the population is beyond doubt. By far, the most vulnerable social group here is the older generation. However, young people also need this competence. Purpose: this article describes the study of the level of financial literacy of generation Z and Y on the subject of knowledge of the operations of the gold and foreign exchange market; representations and concepts of modern economics; banking transactions; the subject of international trade, as well as international currency. Methods that were used in the research process: comparative analysis and synthesis, dialectical approach, sociological survey. Results: the authors conclude that Generation Z is less educated in terms of having and using financial knowledge than Millennials, and this is explained by the following facts: less life experience, focus only on the present, low interest in finance as a source of self-development opportunities.