The issues of the improvement of citizens’ financial literacy are emphasized at a government level in many countries, because financial literacy contributes not only to individuals’, but also to a society’s well-being. However, the process of financial literacy enhancing starts with a measuring of its current level that, in turn, requires an application of an appropriate measurement instrument. Despite of variety of questionnaires used by foreign experts worldwide, they cannot be applied for measuring financial literacy level of Latvian citizens due to a range of reasons. To consider all the important aspects of financial literacy and to precize the content and structure of the questionnaire, the authors conducted two pilot studies, using their own developed research instruments. The received results are briefly described in the current paper.