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The Merit Badge Personal Management form is an essential tool designed to help scouts successfully navigate the requirements for earning the Personal Management merit badge. This form serves as an organizer for thoughts and notes as scouts prepare to meet with their merit badge counselors. Each section prompts the scout to engage fully with the material, making it clear that while the workbook aids in tracking progress, it does not replace the necessity of reading the merit badge pamphlet. Counselors expect scouts to demonstrate their understanding of key personal management skills, which include budgeting, comparison shopping, and discussing the responsible use of money. Furthermore, this form emphasizes the importance of planning for major purchases while considering family needs. Scouts will find sections dedicated to drafting savings plans, tracking income and expenses over a 13-week period, and reflecting on the emotional aspects of spending and saving. Although the workbook is a supportive resource, it must be used in conjunction with the official requirements, which remain untouched, ensuring scouts learn and apply valuable life skills effectively.

Merit Badge Personal Example

Personal Management

Merit Badge Workbook

This workbook can help you but you still need to read the merit badge pamphlet.

This Workbook can help you organize your thoughts as you prepare to meet with your merit badge counselor. You still must satisfy your counselor that you can demonstrate each skill and have learned the information.

You should use the work space provided for each requirement to keep track of which requirements have been completed,

and to make notes for discussing the item with your counselor, not for providing full and complete answers.

If a requirement says that you must take an action using words such as "discuss", "show",

"tell", "explain", "demonstrate", "identify", etc, that is what you must do.

Merit Badge Counselors may not require the use of this or any similar workbooks.

No one may add or subtract from the official requirements found in Scouts BSA Requirements (Pub. 33216 – SKU 653801). The requirements were last issued or revised in 2019 • This workbook was updated in September 2020.

Scout’s Name:__________________________________________ Unit: __________________________________________

Counselor’s Name: ____________________ Phone No.: _______________________ Email: _________________________

http://www.USScouts.Org • http://www.MeritBadge.Org

Please submit errors, omissions, comments or suggestions about this workbook to: Workbooks@USScouts.Org

Comments or suggestions for changes to the requirements for the merit badge should be sent to: Merit.Badge@Scouting.Org

_________________ ___________________________ _________ ____________ ____________________________________________________________________ ____

1.Do the following:

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

b.Write a plan that tells how your family would save money for the purchase identified in requirement 1a.

1. Discuss the plan with your merit badge counselor.

Workbook © Copyright 2020 - U.S. Scouting Service Project, Inc. - All Rights Reserved

Requirements © Copyright, Boy Scouts of America (Used with permission.)

This workbook may be reproduced and used locally by Scouts and Scouters for purposes consistent with the programs of the Boy Scouts of America (BSA), the World Organization of the Scout Movement (WOSM) or other Scouting and Guiding Organizations.

However it may NOT be used or reproduced for electronic redistribution or for commercial or other non-Scouting purposes without

the express permission of the U. S. Scouting Service Project, Inc. (USSSP).

Personal Management

 

Scout's Name: ____ ____ ________ _____

2.

Discuss the plan with your family.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

3. Discuss how other family needs must be considered in this plan.

c. Develop a written shopping strategy for the purchase identified in requirement la.

1. Determine the quality of the item or service (using consumer publications or ratings systems).

Personal Management - Merit Badge Workbook

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Personal Management

Scout's Name: ___________ ____________

2.Comparison shop for the item. Find out where you can buy the item for the best price. (Provide prices from at least two different price sources.)

Source

Price

 

 

 

 

 

 

 

 

 

 

 

 

Call around; study ads. Look for a sale or discount coupon. Consider alternatives.

Can you buy the item used?

Should you wait for a sale?

2.Do the following:

c a. Prepare a budget reflecting your expected income (allowance, gifts, wages), expenses, and savings for a period of

13consecutive weeks

(There is a blank Sample Budget Plan table to set up a budget, summarize actual income nd expenses, and compare them monthly at the end of this workbook, with a partially completed example.)

c b. Compare expected income with expected expenses.

1.If expenses exceed budget income, determine steps to balance your budget.

Personal Management - Merit Badge Workbook

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Personal Management

Scout's Name: ___________ ____________

2. If income exceeds budget expenses, state how you would use the excess money (new goal, savings).

3.Track and record your actual income, expenses, and savings for 13 consecutive weeks (the same 13-week period for which you budgeted). (You may use the forms provided in this pamphlet, devise your own, or use a computer-generated version.) When complete, present the records showing the results to your merit badge counselor.

(There is a table for tracking your actual weekly income and expenses that you can use, at the end of this workbook, together with a partially completed example.)

4.Compare your budget with your actual income and expenses to understand when your budget worked and when it did not work. With your merit badge counselor, discuss what you might do differently the next time

3.Discuss with your merit badge counselor FIVE of the following concepts: c a. The emotions you feel when you receive money.

c b. Your understanding of how the amount of money you have with you affects your spending habits.

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Personal Management

Scout's Name: ________________________

cc. Your thoughts when you buy something new and your thoughts about the same item three months later.

Explain the concept of buyer's remorse.

cd. How hunger affects you when shopping for food items (snacks, groceries).

ce. Your experience of an item you have purchased after seeing or hearing advertisements for it.

Did the item work as well as advertised?

c f. Your understanding of what happens when you put money into a savings account.

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Personal Management

Scout's Name: ________________________

cg. Charitable giving. Explain its purpose and your thoughts about it.

ch. What you can do to better manage your money.

4.Explain the following to your merit badge counselor:

a.The differences between saving and investing, including reasons for using one over the other. Saving:

Investing:

Reasons for using one over the other:

Personal Management - Merit Badge Workbook

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Personal Management

Scout's Name: ________________________

b.The concepts of return on investment and risk and how they are related.

c.The concepts of simple interest and compound interest Simple interest:

Compound interest:

d.The concept of diversification in investing.

e.Why it is important to save and invest for retirement.

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Personal Management

Scout's Name: ________________________

5.Explain to your merit badge counselor what the following investments are and how each works:

a.Common stocks.

b.Mutual Funds

c.Life Insurance

d.A certificate of deposit (CD)

e.A savings account.

f.A U.S. savings bond.

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Personal Management

Scout's Name: ________________________

6.Explain to your counselor why people might purchase the following types of insurance and how they work:

a.Automobile

b.Health

c.Homeowner’s/renter’s

d.Whole life and term life

7.Explain to your merit badge counselor the following:

a.What a loan is, what interest is, and how the annual percentage rate (APR) measures the true cost of a loan. What a loan is:

What interest is:

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Personal ManagementScout's Name: ________________________

and how the annual percentage rate (APR) measures the true cost of a loan:

b.The different ways to borrow money.

c.The differences between a charge card, debit card, and credit card. Charge card

Debit card,

Credit card.

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Get Merit Badge Personal PDF Form

Form Characteristics

Fact Name Details
Workbook Purpose This workbook helps Scouts prepare to meet with their merit badge counselor by organizing thoughts and tracking completed requirements.
Official Requirements Scouts may not add or subtract from the official requirements outlined in Scouts BSA Requirements (Pub. 33216 – SKU 653801).
Update History The workbook was updated in September 2020, building on revisions from 2019.
Family Engagement Several requirements involve discussing financial plans with family members, highlighting the importance of family input in financial decisions.
Consumption and Comparison Scouts are encouraged to comparison shop and assess quality using consumer publications or ratings systems before making a purchase.
Budget Tracking Children must prepare a budget reflecting their income and expenses over a 13-week period, promoting budgeting skills and financial awareness.
Counselor Role Merit badge counselors play a critical role in guiding Scouts, and they are not allowed to mandate the use of this workbook.
Feedback Channels Scouts can submit feedback regarding the workbook to specific email addresses related to the U.S. Scouting Service Project.

Guidelines on Utilizing Merit Badge Personal

Filling out the Merit Badge Personal form is a crucial part of earning your Personal Management Merit Badge. This form helps you keep track of what you've done so far and prepares you for discussions with your merit badge counselor. Use it to organize your thoughts and plan your approach, but remember to refer to the official materials for thorough understanding.

  1. Begin by entering your Scout’s Name, Unit, Counselor’s Name, Phone Number, and Email Address at the top of the form.
  2. For Requirement 1a, choose a major expense your family might want to purchase. Write down this item clearly.
  3. Under the same requirement, create a savings plan for the chosen item. Outline how your family would save the necessary funds.
  4. Discuss your savings plan first with your merit badge counselor and then with your family, as required in Requirement 1a.
  5. Consider other family needs in this discussion. Write your thoughts down as they pertain to your savings plan.
  6. For Requirement 1c, develop a written shopping strategy. Determine the quality of the item using consumer resources or rating systems.
  7. Begin your comparison shopping. Document at least two sources and their prices for the item.
  8. Prepare a budget for the next 13 consecutive weeks, detailing expected income and expenses. Use the provided Sample Budget Plan table.
  9. Compare your expected income to your expenses. If expenses exceed income, determine steps to balance your budget.
  10. Track your actual income, expenses, and savings over the same 13-week period. Prepare to present these records to your merit badge counselor.
  11. Review your budget against your actual spending to evaluate its effectiveness. Discuss what you could do differently next time with your counselor.
  12. Finally, prepare to discuss FIVE concepts regarding money with your merit badge counselor. Choose from the provided list and prepare your thoughts.

What You Should Know About This Form

What is the purpose of the Merit Badge Personal Management Workbook?

The Merit Badge Personal Management Workbook is designed to help Scouts organize their thoughts and tasks as they work toward completing the Personal Management Merit Badge. While the workbook provides helpful guidance and a structure for recording progress, it should not replace the official merit badge pamphlet or the counselor's guidance. Scouts must engage with their counselors and demonstrate their understanding of each skill and concept covered in the requirements.

How should a Scout use the workbook?

A Scout should use the workspaces in the workbook to track completion of each requirement and to jot down notes that will facilitate discussions with their counselor. The notes should focus on the key ideas and experiences related to the requirements, rather than providing exhaustive answers. For example, if a requirement calls for discussing a family financial plan, the Scout can summarize their thoughts and any conversations held with family members, rather than writing a complete essay.

Can Merit Badge Counselors require the use of this workbook?

No, Merit Badge Counselors are not permitted to require Scouts to use this or any similar workbook. The use of workbooks is entirely optional, and counselors must adhere to the official requirements as outlined in the Scouts BSA Requirements document. Scouts should keep in mind that adding or subtracting from these official requirements is not allowed.

What are the key components of the budgeting requirement?

For the budgeting requirement, a Scout must prepare a budget that reflects their expected income, expenses, and savings over a 13-week period. The workbook provides a sample budget plan table to assist Scouts in organizing their financial information. After preparing their budget, Scouts should track their actual income and expenses for the same period and compare them to their budget to assess their financial decisions and spending habits.

How can Scouts demonstrate their understanding of emotions related to money?

Scouts need to discuss various concepts related to their emotional responses towards money with their counselor. This includes discussing how the amount of money available affects spending patterns, the feelings tied to receiving money, and experiences like buyer's remorse. These discussions can help Scouts recognize their emotional relationship with money and understand its implications on personal finance decisions.

What should Scouts do if they encounter any errors or have suggestions regarding the workbook?

Scouts or leaders who notice any errors, omissions, or who have suggestions for improving the workbook can submit their feedback to the designated email, Workbooks@USScouts.Org. If there are comments or suggestions about changes to the merit badge requirements themselves, those should be sent to Merit.Badge@Scouting.Org. This channel of communication helps ensure that the workbook and the requirements evolve to meet the needs of Scouts effectively.

Common mistakes

Filling out the Merit Badge Personal form requires attention to detail and an understanding of the requirements. One common mistake is failing to review the official merit badge pamphlet before starting. While the workbook provides valuable assistance, it should complement, not replace, the pamphlet. Skipping this step can lead to misunderstandings about the expectations and requirements set by the merit badge counselors.

Another mistake is not using the workspaces effectively. The form includes designated areas for tracking progress and making notes for discussions with the counselor. However, many individuals treat these spaces as places for complete answers rather than as guides for conversation. This approach may hinder meaningful discussions about the requirements and compromise the learning experience.

Also, some individuals do not adequately prepare for discussions outlined in the requirements. Phrases like "discuss," "show," and "explain" indicate that preparation is necessary. Failing to properly consider these requirements can lead to confusion during the meeting with the counselor. Adequate preparation not only demonstrates commitment but also enriches the discussion.

Finally, omitting key details, such as actual income and expenses while tracking finances, can undermine the entire exercise of creating a budget. Meeting the expectations of the requirements means providing accurate records for analysis. By neglecting to fill out these sections thoroughly, participants miss out on essential life skills necessary for personal financial management. Accuracy and completeness in these records are critical for effective learning and discussion.

Documents used along the form

When working towards earning a Merit Badge, several key documents complement the Merit Badge Personal Management form. These documents help keep track of progress, assist in planning, and ensure that all requirements are met. Below is a list of useful forms and documents that accompany the Personal Management Merit Badge experience.

  • Merit Badge Application (Blue Card): This form is essential for starting the merit badge process. It provides a record of the scout's commitment to pursuing the badge and tracks their progress throughout.
  • Merit Badge Pamphlet: Each merit badge has a pamphlet that outlines the requirements and provides helpful information. Reading the pamphlet is necessary to gain a deeper understanding of the subject matter.
  • Budgeting Worksheet: A tool for planning financial goals, this worksheet helps scouts track their expected income and expenses. It ensures that the budgeting activities align with the requirements of the badge.
  • Shopping Strategy Plan: This document guides the scout in developing a strategy for making a significant purchase. It allows them to detail comparisons and decide on the best options.
  • Progress Tracking Sheet: A helpful way to monitor completed tasks and requirements, this sheet assists scouts in staying organized and focused as they work toward earning their merit badge.
  • Meeting Notes: Scouts can take notes during discussions with their merit badge counselor. This document serves to document insights, thoughts, and ideas shared during these important conversations.
  • Tips on Saving and Spending: A helpful reference that provides information on wise financial habits, this document can assist scouts in understanding the principles of personal finance.
  • Final Presentation Checklist: This checklist ensures that scouts are prepared when meeting with their counselor to present their completed work. It’s a convenient guide to ensure all aspects of the merit badge requirements are covered.

Understanding these documents and using them effectively can greatly enhance the merit badge experience. They not only guide the scout in their journey but also foster essential skills for personal management in the future.

Similar forms

The Merit Badge Personal Management form serves as a valuable tool for Scouts, especially as they prepare for discussions with their merit badge counselors. There are several other documents that share similarities in purpose, structure, or intent. Here is a list of eight such documents:

  • Project Proposal Form: Much like the Personal Management form, a project proposal outlines plans and steps for achieving a specific goal. It encourages thought organization and communication with mentors, similar to the preparation for meeting with a merit badge counselor.
  • Personal Development Plan: This document helps individuals set personal goals and track their progress. Both forms emphasize planning, tracking actions, and discussing outcomes with trusted individuals.
  • Resume Template: A resume organizes personal achievements and experiences in a structured format. Similar to the Personal Management form, it requires individuals to summarize their skills and experiences effectively.
  • Budget Worksheet: Much like the budget aspect of the Merit Badge form, a budget worksheet assists individuals in tracking income and expenses, promoting financial literacy and responsibility.
  • Volunteer Work Log: This document tracks volunteer hours and helps users reflect on their contributions. Both formats focus on documenting and discussing experiences for personal growth.
  • Goal-Setting Checklist: This checklist lays out specific goals and the steps required to achieve them, paralleling the structured planning seen in the Merit Badge form.
  • Education Plan: An education plan outlines coursework and academic goals, encouraging reflection and discussion with educators, similar to the requirement for discussion in the Merit Badge form.
  • Event Planning Guide: Like the Personal Management form, an event planning guide helps individuals organize tasks and coordinate discussions among group members, ensuring all aspects are covered effectively.

Dos and Don'ts

When filling out the Merit Badge Personal form, there are several important practices that can guide you to success. Below is a list of dos and don'ts that might help you streamline the process.

  • Do read the merit badge pamphlet thoroughly before starting the form.
  • Do use the provided workspaces to organize your thoughts on each requirement.
  • Don't provide full and complete answers in the workspaces; focus on notes that aid discussion.
  • Don't alter official requirements stated in Scouts BSA Requirements.

Misconceptions

Misconceptions about the Merit Badge Personal Management form can lead to confusion for Scouts and their families. Here are seven common misunderstandings.

  • The workbook is all I need to complete the merit badge. Many believe the workbook alone suffices. However, reading the merit badge pamphlet is essential for a full understanding of the material.
  • My merit badge counselor will accept any completed requirements. This isn't true. Counselors expect Scouts to demonstrate understanding and skills, not just submit completed worksheets.
  • This workbook replaces the official requirements outlined by Scouts BSA. Incorrect. The workbook is a tool for organization. Official requirements must still be followed as provided by Scouts BSA.
  • The workbook must be filled out completely to get the badge. Not necessarily. Scouts should use the provided spaces for notes and discussions rather than for comprehensive answers.
  • Every merit badge counselor uses the workbook. Counselors are not required to use this workbook. It’s an optional resource for guidance.
  • All items in the workbook must be completed with detailed responses. The emphasis is on discussion with the counselor, not on extensive written responses. Just a brief overview is often sufficient.
  • Once I submit the workbook, my work is done. This is a misconception. Scouts should track their progress and be prepared to discuss their experiences during meetings with their counselors.

Key takeaways

When using the Merit Badge Personal form, there are several important points to keep in mind.

  • The form serves as an organizational tool for preparing discussions with the merit badge counselor.
  • It is crucial to read the official merit badge pamphlet for a complete understanding of requirements.
  • Use the space in the workbook to track your progress on each requirement and to jot down key discussion points.
  • Counselors may ask you to demonstrate or explain your knowledge rather than requiring the use of the workbook itself.
  • The requirements for the merit badge cannot be altered, and it is important to adhere strictly to the official guidelines.

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