sample budget personal management merit badge

#Sample budget personal management merit badge how to#

Let me break them down a bit with a quick overview of scouting. So if you’re not the parent of a scout, these terms might not make sense to you. Yes I carved that watermelon up there, if you were wondering.Ĭub Scouts? Boy Scouts? First Class? What Are You Talking About? This is not endorsed by the Boy Scouts and all opinions and observations are my own. My middle son is in Cub Scouts but will transition to Boy Scouts at the start of the next school year.īefore I start, this is simply the tale of one family’s journey in scouting. Right now he’s a First Class and is on track to earn his Star scout by the end of the year. I thought that was a great idea, given that my oldest is now a high school freshman and has been a scout since he was a Tiger in first grade. My good friend Chelsea over at Mama Fish Saves dropped me a line the other day to ask if I might be interested in writing a bit about my two boys experience in Boy Scouts. The USAA Foundation Personal Management Merit Badge promo video can be found at. Links to USAA resources are shared on the website at.

#Sample budget personal management merit badge how to#

Helping future generations understand how to manage money and avoid debt are invaluable life lessons that positively impact those individuals as well as the community in which they live.įor more information about the Merit Badge, see. The merit badge exposes Scouts to the concepts and terminology of finances, banking, insurance, investments, and more to help prepare them for financial decisions down the road. The requirements are infinitely customizable, allowing Scouts to create and follow a budget based on their own income and expenses for 13 weeks and research and budget for a major family expense that fits their life and their family’s values. Along the way, youth talk with their parents, fellow Scouts, and Merit Badge Counselors to gain additional insight and to be held accountable. Working on this badge is engaging and requires youth to participate, discuss, and share as items are presented during three class meetings. The merit badge process teaches youth about mapping a plan for their life, including setting short-range and long-range goals, and leads them through the process of exploring different ways to reach those goals. The comprehensive requirements help Scouts develop an understanding of core financial literacy concepts including

Two times each month, the Alamo Area Council offers the Personal Management merit badge, thanks to the support of USAA. This provides real-world experience for Scouts to learn sales skills, including how to set up goals, add up orders, make changes, and calculate sales per hour. In addition, many Scout Units raise money to support their skill-building and activities by engaging in fundraising activities. Cub Scout meetings can be organized around financial management topics and Scouts BSA members plan camping or other group trips and calculate the costs involved calculate how much money needs to be raised for the group to be able to camp and plan their meals and shop for groceries within a budget. To prepare them further, the Scout program has multiple opportunities for youth to engage in practical, hands-on, real-life practice with money, all within a safe space and with adult supervision.īeginning with the foundational recitation of the Scout Law, youth learn that “a Scout is thrifty”, an overarching tenet that directs activities and discussions about the value of money. Youth often learn about money first within their families when they receive an allowance, are paid to do chores or listen to their parents talk about paying bills and saving for retirement.

Understanding the value of money, the cost of debt, and how to develop and follow a budget are all key skills for success in life. Membership Tools (formerly ‘Recruiting’).