This newly updated, interactive digital version of Personal Management Merit Badge Pamphlet allows more room for added material and more experiential content, such as:
• Photo Slideshows
• Pop-up Information
• And more!
Using this new enhanced digital download assists Scouts in mapping a life plan that involves setting goals and investigating different ways to reach those goals.
To achieve your goals, you will choose the best path and make a commitment to it, while remaining flexible enough to deal with changes and new opportunities.
While completing the requirements for this merit badge, Scouts will learn to explain and/or demonstrate the following:
• Purchasing strategy for a major expense item, including preparing a budget of expected income, expenses, and savings; and determining steps to balance your budget
• Personal concepts of how money, savings, and charitable giving affect you
• Differences between saving and investing, including the concepts of return on investment and risk
• Concepts of simple interest and compound interest and how these affect the results of your investment
• Stocks, mutual funds, life insurance, certificates of deposit (CDs), savings accounts, U.S. savings bonds
• What a loan is, what interest is, and how the annual percentage rate (APR) measures the true cost of a loan
• Different ways to borrow money, including charge cards, debit cards, and ways to reduce or eliminate debt while learning how credit reports and personal responsibility can affect your credit report
• Time management
Successfully completing this merit badge is one of the requirements to earn the rank of Eagle Scout.
Standard English-language print version (SKU 35928 MBP 4C Personal Mgmt English) and Spanish-language print version (SKU 619147 MBP 4C Personal Mgmt Spanish) also available.