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Reminder for Personal Management Merit Badge

posted Nov 3, 2018, 1:20 PM by Kristen Fee

Scouts that are working on earning the Personal Management Merit Badge:

 As a reminder scouts should be completing the following in the merit badge workbook:

 Requirement 1

Choose an item that your family may want to purchase that is considered a major expense. 

Write in the workbook how your family will save for the purchase. 

Develop a shopping strategy, understanding the different options the item may have and what your family needs are.

Question 2 of the requirement should be completed as well.

At our first meeting we discussed requirement 2. Scouts are required to prepare a budget.  The budget must include income and expenses. Next, scouts should be tracking actual weekly income (allowance, gifts, work etc.) and expenses (going to movies, buying lunch at school, Xbox purchases, phone, special clothing etc. ).    At the end of the 13 weeks scouts will be required to compare the budget to actual.  Tracking 13 weeks of allowance will not be enough.  At this point, Scouts should have completed 5 weeks.

Requirement 3  we discussed at our second meeting.  If you were not present at the meeting, please answer the questions.

At our next meeting we will discuss Requirement 4 and 5.

Requirement 5 – for our next meeting, select 5 stocks and fill in the information in the workbook.

Mrs. Fee