Young investors tend to exhibit a lower level of financial literacy which has a negative impact on their investment decisions. The level of financial literacy a person has therefore plays a major role and can be crucial for an investor's ability to make rational and sound financial decisions. An investor's investment decision can be influenced in many ways, but mainly psychological factors come into play. There is a clear difference between younger and older generations of investors. Previous studies show signs of riskier behavior among the younger generation, and there are therefore questions about how they will characterize their investing. The aim of the study is to describe and analyze Generation Z's level of financial literacy and attitude towards risk on the stock market This study has applied a quantitative research method in the form of a questionnaire. The questionnaire was divided into two sections. Each section contained questions that were used to answer selected subcategories within financial literacy and financial behavior. The financial behavior category was made up of different “bias” in accordance with the Behavioral finance theory. The study found that the respondents within Generation Z possessed a high level of financial literacy and exhibited long-term saving behavior. No overrepresented risk behaviors were found for the generation in question.