Download Personal Management Merit Badge Workbook: Budgeting and Time Management for Scouts and more Lecture notes Natural Science in PDF only on Docsity!
Houston Museum of Natural Science
Personal Management Prerequisites
Scout’s Name: Unit:
Requirement 1
(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. (2) Discuss the plan with your family. (3) Discuss how other family needs must be considered in this plan
Scouts and Parents, We do requirement 1 in the classroom. We choose a laptop/computer for the scout to purchase. The objective of this requirement is for the scout to figure out a way to save money for a major expense or an important purchase examples cars, tires etc. Please discuss with your scout requirement 1b2 and 3.
REQUIREMENT 2
Do the following:
a. Prepare a budget reflecting your expected income (allowance, gifts, wages), expenses, and savings. b. Compare expected income with expected expenses.
- If expenses exceed budget income, determine steps to balance your budget.
- If income exceeds budget expenses, state how you would use the excess money (new goal, savings).
- 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.
- Compare your budget with your actual income and expenses to under- stand when your budget worked and when it did not work. With your merit badge counselor, discuss what you might do differently the next time.
Houston Museum of Natural Science
Budget Plan
Budgeted Amounts Actual Amounts Tot. Actual- Income Sources per^ Tot. Budget Week
Month 1
Month 2
Month 3 Total^
Month 1 Month 2 Month 3 Total
Allowance
Gifts
Wages
Other
Income Totals
Expenses per Week
Month 1
Month 2
Month 3 Total Month 1 Month 2 Month 3 Total (^) Act.-Budget
Savings-pay yourself 1st Donations/Charity
Food/Meals out
Clothing
Entertainment/Movies
CDs/DVDs, etc.
Recreation
Sports/Hobbies
Travel
Books/Magazines
Gifts
Other:
Expense Totals
Income - Expenses
Houston Museum of Natural Science
Date Description of Daily Income and Expenses Deposit Withdrawal Balance
Week 1 Opening Balance
Week 2
Week 3
Week 4
Week 5
Houston Museum of Natural Science
Date Description of Daily Income and Expenses Deposit Withdrawal Balance Week 6
Week 7
Week 8
Week 9
Week 10
Houston Museum of Natural Science
REQUIREMENT 8
PREREQUISITE
Demonstrate to your merit badge counselor your understanding of time management by doing the following: a. 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. List these in order of importance to you.
b. Make a seven-day calendar or schedule. 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. On following page. c. Follow the one-week schedule you planned. 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. d. Review your "to do" list, one-week schedule, and diary/journal to understand when your schedule worked and when it did not work. With your merit badge counselor, discuss and understand what you learned from this requirement and what you might do differently the next time.
Houston Museum of Natural Science
List difference in scheduled time to when you actually completed the task. To Do List Scheduled Time
Day 1 Day 2 Day 3 Day 4 Day 5 Day 6 Day 7
