Handling with money, life risks and loan as well as the asset growth and the retirement provision, are parts of financial literacy. Due to economic and social developments, the importance of this topic increased over time, so it is necessary to advance students financial literacy. The recent teaching of economics is contributing less to this advancement. It focuses just on cognitive aspects. Instead of that, it is necessary to teach financial literacy under emotional, motivational and volitional aspects to encourage students to manage financial challenges. These non-cognitive aspects are relevant in the context of self-competence. In this connection, the following research question arises: What influence has self-competence on financial literacy and what are the implications for the arrangement of teaching economics? First, the term financial literacy will be discussed and differentiated from other terms. Based on the terminologies and the results of diverse studies, the contents of financial literacy are described and integrated into economic education. In this process, multiple perspectives are considered. In the following section of this master thesis, the impacts of self-efficacy expectations, motivation, goals, self-esteem and identities on financial literacy are described. These factors are components of the self-competence. Based on the findings, the requirements for the arrangement of teaching economics are characterized. For this purpose, implications for the teacher-student relation and for the subject matter are presented. There are consequences for the handling with motivation, the self-reflection and the teaching methods. These aspects are considered in the concluding case study, which can be used in business courses to advance financial literacy.