Modern everyday life is unthinkable without financial institutions and their services, and last global crisis emphasized the role of consumer protection and financial literacy phenomenon. Consumer protection emphasized laws and the rights which financial institutions must obey during the process of informing the consumers. Financial literacy delivers financial knowledge, skills, attitudes and behaviors necessary to make informed and responsible financial decisions. The goal of this thesis is to explain the connection between consumer protection and financial literacy, i.e. explain that the best consumer protection is information and education. In recent years the level of public awareness in Croatia about the importance of financial literacy is evident, but the biggest challenge in future will be the fundraising activities for delivery of financial education in Croatian primary and secondary schools. Secondary sources were used in the thesis, i.e. statistical data from the recent researches on the financial literacy in Croatia, which were amended with data analysis of my annotation during volunteering in nonprofit “Štedopis”. The making of this thesis was based on systematically study of available expert literature, books, articles and scientific papers. Croatian institutions, as well as private and civil sector are aware of positive correlation financial education and economic growth since the best consumer protection is financial education which improves personal and overall financial wellbeing.