Personal Management

Personal Management merit badge requirements from ? to January 1, 1998:

  1. Talk over with parents of guardian how family funds are spent to meet day-today and long-term needs. Tell how you can help with the family budget.
  2. Make a budget for yourself for 90 days. Keep a record of income and expenses for that period. Review it and report.
  3. Help to choose and buy family groceries for 1 month. Make a report of what you learned.
  4. Explain the possible use, advantages, and risks in using $100 in each of the following ways. Tell how it might help you and others.
    1. Hide it in a mattress.
    2. Put it into a savings account at a bank or savings and loan association. (Explain the difference.)
    3. Buy a bicycle.
    4. Open a checking account.
    5. Buy a U.S. Savings Bond.
    6. Buy a mower or paint sprayer.
    7. Invest in a mutual fund.
    8. Start a life insurance policy.
    9. Buy fishing gear.
    10. Buy common stock.
  5. Talk about things you would like to do within the next 90 days. tell how you plan to get these done. After 90 days, tell what you did. Tell how you did them.
  6. Tell how important credit and installment buying are to our economy and the individual and the family. Visit an officer of a bank or credit department of a store. Find out and tell what you must do to establish a "good credit rating." Tell what it means to you now and in the future.
  7. Check out jobs and career opportunities through interviews or reading. Tell what the "next step" would be to prepare yourself for one of these careers.
Requirements: