A challenge for the research is mainly to analyse how much money do Latvia and Slovenia contribute to the European Union's budget and how much money do they recompensate from the European funds. The purpose of the analysis is to find out which areas do the two countries treat with the highest priority and also to find out how effective they are in achieving the set goals of the 2014 – 2020 financial perspective. Description of facts and concepts, as well as their study on the basis of foreign and domestic scientific literature, was based on the method of description. Collection of numerical data and statistical analyses were carried out using the quantitative method. The comparison method was used to conduct a comparison between the countries, whereas the compilation method was used to confirm or reject the hypotheses. The analysis showed that a resident of Latvia receives more financial means from the EU funds than a resident of Slovenia. Furthermore, the latter also contributes more to the EU budget than the resident of Latvia. Cohesion fund's received financial means per capita depend on gross domestic product (GDP) per capita and thus affect the country's development. Latvia receives more such means and also has lower GDP per capita than Slovenia. However, Slovenia is more efficient at using the resources of the European Social Fund and Funds for research and innovation. The analysis that was carried out aids in the improvement of next financial perspective to be more efficient in gaining and using the EU funds. It is also an indicator of how successful both countries are when it comes to using EU funds and what are the indicators of the funds used. The successful absorption of European funds enables the development and growth of the country, especially in the economic and social perspective.