How Advisors Are Tackling Gaps In Financial Literacy

“You would be amazed how much time is spent on the basics of personal finance for even the wealthiest of clients,” said Tom Henske, a financial advisor at The Affluent Insurance Advisor in New York City and founder of Total Cents, a program that teaches parents how to talk to their kids about money.

What Is a Secured Loan?

However, payday loans’ astronomical rates of interest—often as high as 400% APR—mean they should be a last resort because lenders charge astronomical fees, says Thomas Henske, a certified financial planner in New York. “People who need a payday loan…don’t have any other options,” he says.
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