The world attaches increasing importance to the financial and pension literacy of its inhabitants. Namely, it directly contributes to real economic growth, reducing poverty in the country, reducing the risk of individual wrong decisions, but also improving the personal well-being of the individual. The majority of the population in the developed part of the world is not familiar with the basic economic concepts needed to make decisions about reasonable investments and savings. So far, no structured and comprehensive financial education has been conducted in the Republic of Croatia, and research of this area is still in its infancy. Generation Y is the first generation to grow up with technology. Members of this generation are characterized by the desire to achieve high goals and expectations, thus resolving the problem of unemployment, loans, etc. Despite this, even this generation did not recognize the importance of financial and pension education. Perhaps the biggest problem is the lack of support from the government, ie the Government of the Republic of Croatia, representatives of financial institutions, employers and representatives of the economic sector. The research part of this paper presents the necessity of introducing financial and pension literacy in the education system of the Republic of Croatia.