The purpose of this study was to provide an overview of relevant literature that deals with the issues of behavioral factors and phenomena in finance and to empirically analyse their influence on financial decision-making and risk propensity of economic agents. For the purpose of empirical analysis, a survey questionnaire with a sample of 130 respondents was conducted. The testing of set hypotheses was proven using descriptive statistics, Student's test, analysis of variance, multiple regression and correlation. It was found that men are more prone to risk than women and that the propensity to risk varies according to personal monthly income. In addition, the influence of behavioural factors on financial decision-making has been established, i.e. internal and external locus of control variables have a positive effect on prudence in financial decision-making, and impulse buying has a negative impact. Influence of self-confidence on risk propensity has not been established. The research is concluded by partial acceptance of the main hypotheses, i.e. the influence of some socio-demographic characteristics and behavioral factors on the risk appetite and financial behavior of economic agents has been determined. Due to changes in the environment caused by COVID-19, which influence financial decisions and change the attitudes of individuals, further research on this topic is suggested.