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Charles Payne is the host of FOX Business Network’s “Making Money with Charles Payne” and provides financial analysis across the FOX Business Network and FOX News Channel.
Payne joined FOX in 2007, and over that time he has contributed to FOX Business Network’s 2022 Midterm Election panel, hosted several town halls on topics like the investor revolution and the rise of cryptocurrency, and led a Black History Month special.
Before becoming a TV personality, Payne worked on Wall Street as an analyst at EF Hutton and also founded Wall Street Strategies, an independent stock market research firm.
Why He’s a Top Money Expert:
Payne is a trusted source for financial analysis thanks to his experience on Wall Street.
What’s the one piece of money advice you wish everyone would follow?
Find ways to let your money work for you. It requires sacrifice and knowledge — most will be learned in real-time, no matter how great the books you read are. Life is long, life is short. It’s very long and difficult when you are older and have trouble paying basic bills. The big thing about getting caught up in YOLO and FOMO is the fun you have now could be multiplied by many factors. Today’s trip on a tight budget to a local island could be tomorrow’s cruise around the world.
What’s the most important thing to do to build wealth?
Always be a student. There are twists and turns to life, and what works today might not tomorrow — the one constant is staying at it and being open-minded.
What’s your best tip for fighting the impacts of inflation?
Sacrifice. It’s amazing to see companies from fast food restaurants to cereal makers still jacking up prices when there are alternatives. If you are willing to give away your cash it will fly the coop fast. Hunker down and ride it out. From an investing point of view — don’t stop but don’t overpay.
What’s the biggest mistake people make when it comes to money, and what should they do instead?
Not keeping track is a huge mistake. Not understanding how much they spend and not having a game plan are the biggest mistakes.