ANALYSIS OF FINANCIAL LITERACY OF POPULATION IN SLOVAK REPUBLIC

The financial literacy of the population is an important determinant of economic, financial and social development of any developed countries. Financial literacy is the ability to use knowledge, skills and experience to effectively manage their own resources in order to economically and financially secure households. All residents of the state should possess at least a basic level of financial literacy in order to be able to ensure economic and social facilities for themselves and members of their household. The article includes analysis of financial literacy and financial situation of the Slovak population in 2015. If Slovak households and individuals should avoid financial problems, they should make informed financial decisions, because these decisions can affect their financial stability and financial future.