In this paper, authors provide an analysis of financial literacy in Peru and Uruguay. They find that the knowledge of simple concepts at the basis of financial decision-making is low in both countries. Not only is financial illiteracy widespread, but it is particularly acute among women, rural populations, the less educated, low-income people, the self-employed, the not employed, younger people (in the case of Peru), and older people (in the case of Uruguay). They also find that financial literacy is linked to measures of financial wellbeing: those who are financially literate are more likely to be able to save and plan for retirement in both countries. In addition, they find a relationship between knowledge of specific concepts and key financial behaviors. Lastly, they find a relationship between financial literacy and financial resilience.