Abstract
In contemporary society, personal finance decisions can have a significant impact on the quality of life. Financial literacy encompasses a range of skills and knowledge that empower individuals to make informed financial choices, manage money effectively, and plan for their future. Therefore, it is considered essential worldwide. Despite its importance, many researchers find the majority of people incapable of handling their finances, which showcases low levels of financial literacy. This quantitative research surveyed 85 children from 15 to 19 years old to determine their level of financial literacy and define the best methods of teaching it. This study has shown that young adults generally have a positive attitude toward financial literacy, and financially literate individuals, while still struggling to handle their funds and correctly answer basic financial literacy questions. Almost all of them wish to be educated at the high school level. This research suggests the best ways to incorporate personal finance classes in schools and offers substantial evidence of such necessity. Overall, the findings of the paper managed to prove that financial illiteracy is common among young adults and more measures should be taken to address the problem.