Financial Literacy among the Young

This monograph focuses on various aspects of financial literacy and its importance for all generations, especially for the younger generation. Literacy, financial or any other is the permanently evolving ability of individuals to use socially agreed systems of symbols for receiving, understanding, creating and using texts in order to live within the family, school, workplace and society. Reading, writing and computing, i.e. skills, without which effective functioning in modern developed societies is virtually unimaginable, are considered basic literacy skills. Financial literacy is therefore essential knowledge and skill, and a prerequisite for successful and creative personal growth and responsible work in professional and social life. Internet, modern technology and digitalization have significantly changed the nature and importance of literacy. For the successful functioning in a society that is confronted with global, economic, technological, social and cultural changes, the development of different forms of literacy, such as information, digital, media and, ultimately, financial literacy, is necessary. Financial literacy thus encompasses basic literacy, reading and mathematical literacy, being their upgrade at the same time, as it requires more knowledge and skills in a specific, financial field. All principles of general literacy apply, but also and above all, the understanding and the ability to use financial information in decision-making.