FINANCIAL LITERACY OF THE MANAGEMENT STUDENTS – CZECH AND SLOVAK EXPERIENCE

Financial literacy is becoming one of the key competencies in the 21st century. In its absence, it is virtually impossible to navigate the market for financial products and services and thus ensure financial stability throughout the whole life. The author presents the results of a survey of the financial literacy of young future managers who are currently university students. Based on a questionnaire survey among full-time and part-time students, the author detects the positive impact of the practical experience of external students on their financial literacy. The author uses an innovative metric in the form of a personal finance index to assess financial literacy. In addition to overall success, this approach also makes it possible to analyze knowledge from the eight components of financial literacy. By comparing the results in individual areas, the author reveals that risk management is Achyla's heel of financial literacy. In addition to the knowledge component, the author also deals with the respondents' access to information sources. Based on these findings, the author formulates conclusions for the content of financial education. There is a need for a stronger link between the development of probabilistic thinking and the development of general numeracy with practical financial subjects. An important part of financial education is also the recognition of credible information sources.