A prayer wheel is an inseparable part of the Tibetan and Buddhist tradition. They are an aid to meditation and are a means of accumulating wisdom, good karma, and a means of putting bad karmas and negative energy aside. The inner portion of the hollow cylinder contains a tightly scrolled paper with handwritten mantra.
The prayer inside : OM MANI PADME HUM. In simple English translation it means “Praise to the Jewel in the Lotus” but each word has great teaching.
Om = The vibration or sound of the universe; represents divine energy and generosity and purifies the ego
Mani = Meaning jewel, just as a jewel is capable of removing poverty, similarly the enlightened mind is capable of removing the poverty, or difficulties, of cyclic existence and of solitary peace.
Padma = The two syllables, padme, meaning lotus, symbolize wisdom, just as a lotus grows from mud but remains not effected by the faults of mud.
Hum = The unity of all; represents wisdom and purifies hatred.
Where to place it? Prayer wheels are placed in the entryway to homes, so people can turn them as they come and go.