This article aims to study the level of financial literacy of a sample of University students in the metropolitan area of Porto, in Portugal. The research method used is quantitative and exploratory, demanding an inquiry made to the population under study.

The literature review is based on financial literacy field studies. It was found that almost half of young people between 18 and 24 years ignore the household income, but the majority (62.0%) has an opened account at the Bank. It was concluded that the students in this sample had meager knowledge of finance, not coming to recognize the Euribor as the interest reference rate in the Euro zone.

The University students have a low knowledge about the commission’s banks charge for bank accounts and only around 20.0% know the exact amount are charged. Although the vast majority considers very important financial planning (66.8%), it was found that young people chooses not to make investments, opting to keep the money in the checking account.

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