1MRR.COM - Business (52)

A lot of teens nowadays do not understand the value of earning and spending money. They were not oriented that investing is necessary even if they are still students. As parents, you play a crucial role in this area.

You should be able to teach your kids on how to save money. They should be able to understand the concept of money and investment as early as childhood. This will prepare them to learn money management, as they grow old.

Here are some tips on how you can teach your children how to save money:

1. Your children should be educated of the meaning of money.

Once your children have learned how to count, that is the perfect time for you teach them the real meaning of money. You should be consistent and explain to them in simple ways and do this frequently so that they may be able to remember what you taught them.

2. Always explain to them the value of saving money.

Make them understand its importance and how it will impact their life. It is important that you entertain questions from them about money and you should be able to answer them right away.

3. When giving them their allowances.

You need to give them their allowances in denominations. Then you can encourage them that they should keep a certain bill for the future. You can motivate them to do this by telling them that the money can be saved and they can buy new pair of shoes or the toys they want once they are able to save.

4. You can also teach them to work for money.

You can start this at your own home. You can pay them fifty cents to one dollar every time they clean their rooms, do the dishes or feed their pets. This concept of earning little money will make them think that money is something they have worked for and should be spent wisely.

5. You can teach them to save money by giving them piggy banks where they can put coins and wait until they get full.

You can also open bank accounts for them and let them deposit money from their allowance. You should always show them how much they have earned to keep them motivated.

Money and saving is not something that is learned by children in one sitting. You should be patient in teaching them and relating the value of money in all of their activities. Children will learn this easily if you are patient and consistent in guiding them and encouraging them in this endeavor.

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1MRR.COM - Business (26)

Do not freak out whenever the phone rings or someone knocks at your door. This is the situation most people who have acquired lots of debts feel especially in times when they can no longer control the situation. There is still hope for you. You just have to develop a personal debt management plan. And you have to make sure that you abide by the rules that you set and the goals that you want to achieve.

You have to help yourself. You have gotten yourself in this situation. You can also help yourself to get out of this rut. Look around you. Are you surrounded by things that you don’t really need but you have acquired throughout the years? What prompted you to buy these material things? The usual answer to this is the comfort of owning a credit card, or credit cards.

The temptation is hard to resist. You don’t have to have lots of money and yet you can buy the things that you have only dreamt about. But if you give in to these thoughts, this is where you start to bury yourself with debts. You have to stop this soon and start your journey to heal and change.

While your financial problem is still manageable without going to a professional for help, you may want to start with the following steps.

1. Avoid temptations. For example, your weakness is food and yet you still go and dig for magazines or TV shows that only pique your curiosity and appetite more and more. As a result, you will indulge on your cravings even though you still cannot afford. You will think that you will only use your credit card just this time.

But the process won’t stop. The temptations won’t go as long as you succumb to its every call. So as much as you can, avoid it so that you will succeed in not thinking about such things at all. Let this be part of your healing process. If you think like you can handle such things, that you can stand yummy pictures and mouth watering delicacies on TV without thinking that you must have those immediately, then d go ahead and splurge.

2. You must have a complete overview of how much is your overall debt. You also must compute how much money you acquire each month. You have to allocate funds wisely. You have to make sure that you pay off your debts even little by little. This is better than not paying at all. With the latter, the interests may go out of hand until you can no longer even think of how you can afford to pay your debts because it simply has gotten unimaginable.

3. If you are settled on paying all your debts, you must stop acquiring more. You can call your creditors and ask for a suitable payment scheme. You can bargain for the interests to stop. You can tell them that you will just pay everything out and you are dedicated on doing that. You can ask their help on how you will be able to do that faster.n the  3

And to succeed with your personal debt management venture, you have to be determined. You have to focus on doing everything right. And you must think about your life in general before you purchase anything in the future.

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1MRR.COM - Business (21)


All investments are based on one single assumption, i.e. you have extra cash to invest. Yet so many people out there are facing difficulties saving sufficient money for investment. How exactly to save money for investment?


  1. Classify your monthly income

Dedicate a set proportion of your monthly income into LIS categories, namely Living, Investment, Saving. An example of an LIS proportion is 80% – 10% -10%. This means you would live with 80% of your income every month (for meals, utilities, loans, etc) and save the other 20%, 10% in Investment (strictly for investment only) and 10% in your savings (normal savings, you can also use it for weekend getaways, holiday trips, buy a new TV set, etc).


  1. Spend only the necessary

Set up budget how to spend your 80%. Find out areas of expenditure you can be thrifty on, which are usually going out, food and other non-essentials though ‘fun’ things. If you have any leftover money from your L category you can always channel more funds into your I and S. Never live beyond your means.


  1. Save in bank accounts

Save your 20% plus whatever leftover from L in bank. Explore different types of saving accounts and pick one which offers higher interest rate. This not only secures your fund, it also prevents you from accessing your funds readily.


  1. Make it less accessible

An additional step to secure your Investment fund is by making it less accessible, e.g. without using an ATM card. You should never touch your I fund, never ever, unless when you are using it for investments (e.g. stocks, house, etc).


  1. Get started now!

Regardless of how much is your monthly income and how much you have in your savings currently, start saving now! You can begin with 1 dollar in your account. As long as you keep doing it, you will soon have sufficient money for investment, as well as some savings for other purposes.

To your investment success!

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1MRR.COM - Audience (6)

After completing higher-level education, most individuals feel passionate and ready to make a significant impact in the world. After gaining employment, these individuals work so diligently and give every task their best eforrt. However, after a few years, these individuals change: they start dreading their work, frequently calling in sick, and look miserable and devastated.

Such symptoms are not abnormal: they are signs of mental burnout. This article discusses mental burnout, and what one can learn from it.

What exactly is Mental Burnout?

Essentially, burnout is a mental or physical collapse caused by stress or too much work. Although most countries lack specific legislation that addresses the vice, it is fatal. In countries such as France and China, workers have committed suicide due to work-related stress while European employees have retired early or taken sick days more frequently than usual.

Burnout also affects teenagers. According to a survey conducted in the United States, 83% of the teens reported that school was their number one source of stress. Other factors included being admitted to a good college and financial worries for their families.

3 Things That You Can Learn From Mental Burnout

Burnout and depression are exceedingly related.

Burnout is mostly work-related while depression is broader – it affects all spheres of life. However, the effects of the two are similar: despair, fatigue, agitation, disinterest in work-related activities, etc. Consequently, people suffering from any one of the two crises become overburdened by everyday activities like work. In such circumstances, work per se is not the problem, but a contributing factor to further damage.

Burnout gets worse with time.

It is easy to assume that burnout will heal with time – it doesn’t. Unless its underlying causes are addressed, the condition only gets worse. The only way to get rid of mental burnout is to start the recovery process as soon as possible. Although the recovery process is slow, it is the only way to address the problem and move on with your life.

Some personality traits can contribute to burnout.

How you view the world, your work, and yourself determines whether you become fatigued. People who pay too much attention to detail can feel stressed if their fellow workmates underwork: they may perceive this as intentional sabotage to their input. In addition, individuals who view everything around them in a negative light are more likely to become stressed and lose focus in life because nothing motivates them to keep working or try to better themselves.

The Bottom Line

People love their jobs because it is their main source of identity and self-worth. It is, therefore, not a wonder that the same jobs can completely destroy an individuals’ well-being. Many factors cause exhaustion; learning from what one goes through after a period of mental breakdown is as important as knowing how to cope with the vice.

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