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The essence of literacy is currently understood on a broader level. Emphasis is placed on functional literacy, which also includes financial literacy. Its level significantly affects a person’s standard of living. In the contribution, we are devoted to the investigation of this issue and the possibilities of increasing the level of financial literacy in the Slovak Republic. We will use theoretical and empirical scientific methods. We work with analysis, synthesis, induction, and deduction. Subsequently, empirical scientific techniques that work with concrete data and precise methods to achieve results will be used. In addition to explanatory methods, interpretative methods will also be used. According to the level of financial literacy of respondents based on the interview method, hypotheses are established. An analysis of individual answers and an analysis of the impact of financial literacy on young people’s interest in entrepreneurship will be carried out. The findings led to the definition of practically oriented conclusions, with an emphasis on the assessment of the level of financial literacy. Attention is also paid to incentives for young entrepreneurs. All proposals written in this chapter are designed with the intention of improving the level of financial literacy in Slovakia. [ABSTRACT FROM AUTHOR]

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The essence of literacy is currently understood on a broader level. Emphasis is placed on functional literacy, which also includes financial literacy. Its level significantly affects a person’s standard of living. In the contribution, we are devoted to the investigation of this issue and the possibilities of increasing the level of financial literacy in the Slovak Republic. We will use theoretical and empirical scientific methods. We work with analysis, synthesis, induction, and deduction. Subsequently, empirical scientific techniques that work with concrete data and precise methods to achieve results will be used. In addition to explanatory methods, interpretative methods will also be used. According to the level of financial literacy of respondents based on the interview method, hypotheses are established. An analysis of individual answers and an analysis of the impact of financial literacy on young people’s interest in entrepreneurship will be carried out. The findings led to the definition of practically oriented conclusions, with an emphasis on the assessment of the level of financial literacy. Attention is also paid to incentives for young entrepreneurs. All proposals written in this chapter are designed with the intention of improving the level of financial literacy in Slovakia.

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.