sample budget personal management merit badge

Personal Management Requirement 6: Insurance Explain to your counselor why people might purchase the following types of insurance and how they work:īefore we get into the different types of insurance, let’s first clarify what insurance actually is. Explain how you could prepare for these costs and how you might make up for any shortfall. 10b) Explain to your counselor what the associated costs might be to pursue this career, such as tuition, school or training supplies, and room and board.Discuss with your counselor the needed qualifications, education, skills, and experience. 10a) Choose a career you might want to enter after high school or college graduation.Identify how these resources will help you achieve your goal. 9b) Develop a timeline for your project that shows the steps you must take from beginning to completion.Discuss your completed project plan with your merit badge counselor. Examples could include planning a camping trip, developing a community service project or a school or religious event, or creating an annual patrol plan with additional activities not already included in the troop annual plan. This is a project on paper, not a real-life project. Prepare a written project plan demonstrating the steps below, including the desired outcome.Discuss what you might do differently the next time. 8d) With your merit badge counselor, review your “to do” list, one-week schedule, and diary/journal to understand when your schedule worked and when it did not work.Keep a daily diary or journal during each of the seven days of this week’s activities, writing down when you completed each of the tasks on your “to do” list compared to when you scheduled them. 8c) Follow the one-week schedule you planned.Put in your set activities, such as school classes, sports practices or games, jobs or chores, and/or Scout or church or club meetings, then plan when you will do all the tasks from your “to do” list between your set activities. 8b) Make a seven-day calendar or schedule.List these in order of importance to you. 8a) Write a “to do” list of tasks or activities, such as homework assignments, chores, and personal projects, that must be done in the coming week.Demonstrate to your merit badge counselor your understanding of time management by doing the following:.7d) Credit reports and how personal responsibility can affect your credit report.What are the costs and pitfalls of using these financial tools? Explain why it is unwise to make only the minimum payment on your credit card. 7c) The differences between a charge card, debit card, and credit card.7b) The different ways to borrow money.7a) What a loan is, what interest is, and how the annual percentage rate (APR) measures the true cost of a loan.

Explain to your merit badge counselor the following:.

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

Let’s get back into it! Take the time to closely review and think through requirements 6-10 of the Personal Management merit badge: What Are The Personal Management Merit Badge Answers? If you’ve come over from part one, congratulations! You’re halfway done with one of the most difficult badges in Scouting.

You’ve reached part 2 of my ultimate guide to the Personal Management merit badge! If you’re new to ScoutSmarts, you should first check out part 1 for the answers to requirements 1-5 of the Personal Management merit badge. If you’re preparing to earn the Eagle-required Personal Management merit badge, you’re in the right place! In this guide, I’ll be providing you with all of the answers that you’ll need to complete your merit badge worksheet and build a solid understanding of personal finance.

Sample budget personal management merit badge