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Succes Online Financial Education Newsletter
Money Management International Improving Lives Through Financial Education
SUCESS NewsletterFinancial Education Newsletter
 
Revealing the cure for financial stress

cure financial stress

By Tanisha Warner, Communications Manager

It’s no secret that financial education is a good thing, especially in the current economic climate. However, the extent to which financial education can benefit consumers is not as well-known.

According to research, the cure to financial stress may be as basic as increased financial literacy. Studies show basic financial education can not only improve a person's financial health, but it can improve their physical health as well.

A recent study by the American Psychological Association found that money was a leading source of stress for respondents. In addition, a poll conducted by the Associated Press/AOL, comparing those with high levels of debt-stress to those with low levels of debt-stress, found the following:

  • Twenty-seven percent with high debt stress had ulcers or digestive tract problems, compared with eight percent with low debt-stress.

  • Forty-four percent with high debt-stress had headaches or migraines, compared with four percent with low debt-stress.

  • Twenty-three percent with high debt stress felt they were suffering from depression, compared with four percent with low debt-stress.

  • The heart attack rate of those with high debt-stress was double that of those with low debt stress.

  • Sixty-five percent more people with high debt-stress suffered from muscle tension or lower back pain than those with low debt-stress.

But, there's good news! Research shows that financial education can help lower these stress levels by building confidence and shaping new, positive attitudes and behaviors toward money.

According to MetLife’s Tenth Annual Study of Employee Benefits Trends, consumers who attend financial education training programs are 25 percent more likely to feel in control of their finances compared with those who have no financial education or training.

So don’t let financial concerns burden you any longer! Learn how to take control of your finances and build a solid financial future by utilizing MMI's exclusive financial education resources. Find a local financial education workshop, or register for a free financial webinar today!

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The goal of our highly trained professionals is to arm you with the knowledge necessary to take control of your financial situation. Our online seminars stress the development of skills that can assure long-term success. You will gain the peace of mind that comes from improved spending habits, increased savings, and the wise use of credit. Take the first step toward financial wellness by enrolling in a Web seminar today!

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Ten tips for young, budding entrepreneurs

As the weather warms up and school begins winding down, it's important to plan ahead for the summer — especially when it comes to your kids.

The summer months are an ideal time to teach your kids valuable money-management skills by allowing them to be entrepreneuers. They'll stay busy and make some money — it's a win-win for kids and parents alike! 

Allowing kids to earn money teaches them many valuable lessons. In addition to learning the value of hard work, they’ll better understand the role of marketing and how to better manage time. Estimating income, managing costs, and even counting change are lessons that will benefit them for a lifetime.

The following are 10 business ideas for your young entrepreneur to consider:

Sell lemonade. No one can resist a lemonade stand on a hot summer day. Don’t forget to have the kids cover the cost of their expenses.

Hold a bake sale. If your kids like to cook, why not encourage them to share their talents? This could even be combined with the lemonade sale to create a full-service concession stand!

Pet sit. Summer time is vacation time. With help, even younger kids can feed neighbors’ fish and cats.

Babysit. Both boys and girls can earn money and experience by babysitting. Kids younger than 12 can get practice by being mommy’s helper.

Mow lawns. Busy neighbors might welcome a little help with the lawn. If there is an elderly neighbor in need of lawn help, encourage your child to volunteer his or her mowing services.

Help with weeding. Who doesn’t need help when weeds get out of control? Scout out some friendly neighbors whose flower beds look like they could use some extra care and have your kids offer to do the job.

Be a camp counselor. Even tweens can get counselor experience by hosting a mini-camp for younger kids at their house or the local park.

Wash cars. Lend your driveway to a group of kids to hold a car wash. They’ll have a great time and you’ll end up with a sparkling clean car.

Walk dogs. Walking is great exercise for both kids and canines.

Teach other kids. If your child excels at school, he or she can tutor younger children and help get them up-to-speed over the summer.

Need more tips on how to teach your children about money? Visit the Youth and Money section on MoneyManagement.org.

Also, don’t forget to check out the fun, kid-friendly resources at MoneyBunny.com, brought to you by the financial experts at Money Management International!


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Update your account balances online. When you receive your monthly statement from your creditors, login to your MMI account and update your balances. It is important that we have the most accurate balance information possible on file. 

If you would like more information about signing up for a Debt Management Plan through Money Management International, visit MoneyManagement.org.


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About Money Management International

Money Management International (MMI) is a nonprofit, full-service credit counseling agency, providing confidential financial guidance, financial education, counseling, and debt management assistance to consumers since 1958. MMI helps consumers trim their expenses, develop a spending plan, and repay debts. Counseling is available by appointment in branch offices and 24 hours a day, 7 days a week by telephone and Internet. Services are available in English or Spanish. To learn more, call
866.530.9869 or visit MoneyManagement.org.

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