When you hear the word finance what comes to mind? Your paycheck? bank accounts? credit or debit cards? loans? investments? banking?...
Finance is defined as the management of money and includes activities such as investing, borrowing, lending, budgeting, saving, and forecasting in a professional and personal capacity.
Frequently when people think of finance they think of the New York Stock Exchange which took centuries to become what it is today. In 1817 the New York Stock and Exchange Board was created, and stock and bond trading were achieved on the floor of the exchange where traders would call out stock and bond buy or sell prices. Prior to internet trading, the retail investors would go to the local library to read financial literature, and research companies and securities such as stocks, bonds, and mutual funds. The investor's other option was to contact a company for the latest financial report which was restrictive for most small investors.
With the Internet, investors have access to hundreds of websites with financial information that they can analyze and understand. Previously, financial intermediaries, such as brokers and investment managers, had an advantage over individual investors due to access to resources. These days, individual investors can learn about wealth management by taking courses, researching free or low-cost websites for financial information on investing or lending information, and actively participate in decision making about their financial security.
Finance offers a myriad career opportunities and advancement. When people think about careers in finance their minds may associate movies like the Wolf of Wall Street or Wall Street but as a career, the financial sector has numerous pathways.