![]() Usscouts/advance/docs/GTA-Excerpts-meritbadges.pdf. Important excerpts from that publication can be downloaded from ![]() The Guide to Advancement (BSA publication 33088). When working on merit badges, Scouts and Scouters should be aware of some vital information in the current edition of Identify how these resources will help you achieve your goal. How personal responsibility can affect your credit report:ĭ. Credit reports and how personal responsibility can affect your credit report. What are the costs and pitfalls of using these financial tools?Įxplain why it is unwise to make only the minimum payment on your credit card.ĭ. The differences between a charge card, debit card, and credit card. Explain to your merit badge counselor what the following investments are and how each works:Īnd how the annual percentage rate (APR) measures the true cost of a loan:Ĭ.Why it is important to save and invest for retirement. The concept of diversification in investing.Į. The concepts of simple interest and compound interestĭ. The concepts of return on investment and risk and how they are related.Ĭ. Your understanding of what happens when you put money into a savings account.ī. Your experience of an item you have purchased after seeing or hearing advertisements for it.Ĭ f. How hunger affects you when shopping for food items (snacks, groceries).Ĭ e. Your thoughts when you buy something new and your thoughts about the same item three months later.Ĭ d. Your understanding of how the amount of money you have with you affects your spending habits. The emotions you feel when you receive money.Ĭ b. With your merit badge counselor, discuss what you might do differently the next timeĭiscuss with your merit badge counselor FIVE of the following concepts:Ĭ a. Workbook, together with a partially completed example.)Ĭompare your budget with your actual income and expenses to under- stand when your budget worked and (There is a table for tracking your actual weekly income and expenses that you can use, at the end of this (You may use the forms provided in this pamphlet, devise your own, or use aĬomputer-generated version.) When complete, present the records showing the results to your merit badge Track and record your actual income, expenses, and savings for 13 consecutive weeks (the same 13-week If income exceeds budget expenses, state how you would use the excess money (new goal, savings). Personal Management - Merit Badge Workbook Page. Determine the quality of the item or service (using consumer publications or ratings systems).Develop a written shopping strategy for the purchase identified in requirement la. Personal Management Scout's Name: _ _ _ _ĭiscuss how other family needs must be considered in this plan.Ĭ. However it may NOT be used or reproduced for electronic redistribution or for commercial or other non-Scouting purposes without Scouts of America (BSA), the World Organization of the Scout Movement (WOSM) or other Scouting and Guiding Organizations. This workbook may be reproduced and used locally by Scouts and Scouters for purposes consistent with the programs of the Boy Requirements © Copyright, Boy Scouts of America (Used with permission.) ![]()
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