FINANCIAL LITERACY OF STUDENTS IN SLOVAK REPUBLIC

Financial literacy is the ability to understand money matters, to manage credit and debt and to make sound financial decisions. Financial literacy is becoming more and more important worldwide. The global financial crisis with strong confusion in financial markets all over the world has highlighted the need for consumer protection and strengthening the financial literacy for long-term stability of the financial sector. As a result, government authorities worldwide and also in Slovak Republic are looking for practical and effective ways of improving consumer protection in financial services and supporting financial literacy. However, according to conclusions of international researches, as well as national public and private surveys, citizens of many countries including Slovakia have insufficient level of the financial literacy. The aim of a paper is to analyse the level of knowledge of selected population group - students, who study at universities in Slovakia. The paper defines financial literacy in the way it is defined by different institutions and states. It defines the role of universities in Slovakia and thereafter it presents the survey results about financial literacy (financial knowledge) of students studying at universities in Slovakia.