The first step is to develop a plan and set some goals. Next, you need to learn about the different types of investments and how they work. Once you have a general understanding, you can start researching specific investments. Finally, you need to decide how you will invest your money and open an account.
History of investing
The first recorded use of the word “invest” dates back to the 13th century, when it meant “to clothe or adorn oneself with something costly”. Over time, the meaning of the word shifted to include the idea of putting money into something in order to gain a financial return.
The earliest known form of investment was probably trade. People would barter goods and services in order to get what they wanted. As civilizations developed, people began to use money as a form of currency. This made trade easier and allowed people to buy and sell goods without having to find someone who wanted what they had to offer.
The first recorded financial transaction was made by Mesopotamian merchants in 3,400 BC. They used clay tablets to record the amount of grain they had delivered to customers. This allowed them to keep track of their inventory and make sure they were paid for their work.
The first investment banks were created in Italy in the 13th century. These banks loaned money to businesses and governments, and they helped people invest in new ventures.
The first stock market was established in Amsterdam in 1602. This is when the Dutch East India Company began selling shares of its stock to the public.
The first modern stock exchange was founded in Philadelphia in 1790. This is when the first organized market for buying and selling stocks and bonds was created.
The New York Stock Exchange is the largest stock exchange in the world. It was founded in 1817 and is located on Wall Street in New York City.
7 steps to start investing
- Develop a plan and set some goals
- Learn about the different types of investments and how they work
- Research specific investments
- Decide how you will invest your money
- Open an account
- Begin investing
- Monitor your investments and make changes as needed