(e) Why it is important to save and invest for retirement.ĥ. Explain to your merit badge counselor what the following investments are and how each works:Ħ Explain to your counselor why people might purchase the following types of insurance and how they work:ħ. Explain to your merit badge counselor the following: (d) The concept of diversification in investing. (c) The concepts of simple interest and compound interest. (b) The concepts of return on investment and risk and how they are related. (a) The differences between saving and investing, including reasons for using one over the other. (h) What you can do to better manage your money.Ĥ. Explain the following to your merit badge counselor: Explain its purpose and your thoughts about it. (f) Your understanding of what happens when you put money into a savings account. (e) Your experience of an item you have purchased after seeing or hearing advertisements for it. (d) How hunger affects you when shopping for food items (snacks, groceries). (c) Your thoughts when you buy something new and your thoughts about the same item three months later. (b) Your understanding of how the amount of money you have with you affects your spending habits. ![]() (a) The emotions you feel when you receive money. With your merit badge counselor, discuss what you might do differently the next time.ģ. Discuss with your merit badge counselor FIVE of the following concepts: (d) Compare your budget with your actual income and expenses to understand when your budget worked and when it did not work. (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. (c) Track and record your actual income, expenses, and savings for 13 consecutive weeks (the same 13-week period for which you budgeted). (2) If income exceeds budget expenses, state how you would use the excess money (new goal, savings). (1) If expenses exceed budget income, determine steps to balance your budget. (b) Compare expected income with expected expenses. (a) Prepare a budget reflecting your expected income (allowance, gifts, wages), expenses, and savings for a period of 13 consecutive weeks. Can you buy the item used? Should you wait for a sale? (Provide prices from at least two different price sources.) Call around study ads. Find out where you can buy the item for the best price. (1) Determine the quality of the item or service (using consumer publications or rating systems). (c) Develop a written shopping strategy for the purchase identified in requirement 1a. (3) Discuss how other family needs must be considered in this plan. (1) Discuss the plan with your merit badge counselor. (b) Write a plan that tells how your family would save money for the purchase identified in requirement 1a. ![]() ![]() Web 130 rows merit badge requirements (click on a merit badge name below) workbooks last updated: Soil And Water Conservation Merit Badge Worksheet(a) Choose an item that your family might want to purchase that is considered a major expense. Web view current camping merit bagde requirements and resources from the official boy scouts of america merit badge hub. Web 130 rows merit badge requirements (click on a merit badge name below) workbooks last updated: Camping Merit Badge 1 Session 6 pm Central Time Calcasieu Area Web 130 rows merit badge requirements (click on a merit badge name below) workbooks last updated: Camping Merit Badge Worksheet Answers slideshare Web 130 rows merit badge requirements (click on a merit badge name below) workbooks last updated: Web view current camping merit bagde requirements and resources from the official boy scouts of america merit badge hub. Personal Management Merit Badge Excel Spreadsheet In Boy Scout Budgetīsa Camping Merit Badge Worksheet.
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