PERSONAL MANAGEMENT STEM-Based BOY SCOUTS OF AMERICA MERIT BADGE SERIES PERSONAL MANAGEMENT “Enhancing our youths’ competitive edge through merit badges” Requirements 1. Do the following: 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. c. Develop a written shopping strategy for the purchase identified in requirement 1a. (1) Determine the quality of the item or service (using consumer publications or ratings systems). (2) Comparison shop for the item. Find out where you can buy the item for the best price. (Provide prices from at least two different price sources.) Call around; study ads. Look for a sale or discount coupon. Consider alternatives. Can you buy the item used? Should you wait for a sale? 2. Do the following: a. Prepare a budget reflecting your expected income (allowance, gifts, wages), expenses, and savings. Track and record your actual income, expenses, and savings for 13 consecutive weeks. (You may use the forms provided in this pamphlet, devise your own, or use a computer-generated version.) When complete, 35928 ISBN 978-8395-5002-0 ©2015 Boy Scouts of America 2015 Printing present the records showing the results to your merit badge counselor. b. Compare expected income with expected expenses. (1) If expenses exceed income, determine steps to balance your budget. (2) If income exceeds expenses, state how you would use the excess money (new goal, savings). 3. Discuss with your merit badge counselor FIVE of the following concepts: a. The emotions you feel when you receive money. b. Your understanding of how the amount of money you have with you affects your spending habits. c. Your thoughts when you buy something new and your thoughts about the same item three months later. Explain the concept of buyer’s remorse. d. How hunger affects you when shopping for food items (snacks, groceries). e. Your experience of an item you have purchased after seeing or hearing advertisements for it. Did the item work as well as advertised? f. Your understanding of what happens when you put money into a savings account. g. Charitable giving. Explain its purpose and your thoughts about it. h. What you can do to better manage your money. 4. Explain the following to your merit badge counselor: a. The differences between saving and investing, including reasons for using one over the other. b. The concepts of return on investment and risk. c. The concepts of simple interest and compound interest and how these affected the results of your investment exercise. PERSONAL MANAGEMENT    3 Always be sure 5. Select five publicly traded stocks. Explain to your merit badge counselor the importance of the following information for each stock: to have proper a. Current price permission before b. How much the price changed from the previous day using the Internet. c. The 52-week high and the 52-week low prices To learn about appropriate behavior and 6. Pretend you have $1,000 to save, invest, and help prepare yourself for the future. Explain to your merit badge counselor the advantages or disadvantages of saving or investing in each of the following: etiquette while a. Common stocks online, consider b. Mutual funds earning the BSA c. Life insurance Cyber Chip. Go to d. A certificate of deposit (CD) www.scouting.org/ e. A savings account or U.S. savings bond Training/ YouthProtection/ CyberChip.aspx for more information. 7. Explain to your merit badge counselor the following: a. What a loan is, what interest is, and how the annual percentage rate (APR) measures the true cost of a loan. b. The different ways to borrow money. c. The differences between a charge card, debit card, and credit card. What are the costs and pitfalls of using these financial tools? Explain why it is unwise to make only the minimum payment on your credit card. d. Credit reports and how personal responsibility can affect your credit report. e. Ways to reduce or eliminate debt. 8. 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. 4    PERSONAL MANAGEMENT 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 place of worship or club meetings, then plan when you will do all the tasks from your “to do” list between your set activities. 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. 9. Prepare a written project plan demonstrating the steps below, including the desired outcome. This is a project on paper, not a real-life project. Examples could include planning a camping trip, developing a community service project or a school or religious event, or creating an annual patrol plan with additional activities not already included in the troop annual plan. Discuss your completed project plan with your merit badge counselor. a. Define the project. What is your goal? b. Develop a timeline for your project that shows the steps you must take from beginning to completion. c. Describe your project. d. Develop a list of resources. Identify how these resources will help you achieve your goal. e. Develop a budget for your project. 10. Do the following: a. Choose a career you might want to enter after high school or college graduation. b. Research your anticipated career and discuss with your merit badge counselor what you have learned about qualifications such as education, skills, and experience. PERSONAL MANAGEMENT    5 Personal Management Resources. Personal Management Resources Scouting Literature Boy Scout Journal; American Business, American Labor, Entrepreneurship, Family Life, Inventing, Salesmanship, and Scholarship merit badge pamphlets; also see merit badge pamphlets on particular careers or vocations. Visit the Boy Scouts of America’s official retail website at http:// www.scoutstuff.org for a complete listing of all merit badge pamphlets and other helpful Scouting materials and supplies. Discovering Yourself, Defining Your Future. Ten Speed Press, 2006. Covey, Sean. The 7 Habits of Highly Effective Teens. Simon & Schuster, 1998. Gardner, David, Tom Gardner, and Selena Maranjian. The Motley Fool Investment Guide for Teens. Fireside, 2002. Morgenstern, Julie and Jessi Morgenstern-Colon. Organizing From the Inside Out for Teenagers. Owl Books, 2002. Bamford, Janet. Street Wise: A Guide for Teen Investors. Bloomberg Press, 2000. Morris, Kenneth M. and Virginia B. Morris. The Wall Street Journal Guide to Understanding Personal Finance, 3rd ed. Simon and Schuster, 2000. Bateman, Katherine R. The Young Investor: Projects and Activities for Making Your Money Grow. Chicago Press Review, 2001. National Association of Investors Corporation (NAIC). Investing In Your Future. South-Western Educational Publishing, 2001. Bodnar, Janet. Kiplinger’s Money-Smart Kids. Kiplinger Books, 1999. Pervola, Cindy, and Debby Hobgood. How to Get a Job If You’re a Teenager, 2nd ed. Highsmith Press, 2000. Books Bolles, Richard Nelson, Carol Christen, and Jean M. Blomquist. What Color Is Your Parachute? For Teens: 62    PERSONAL MANAGEMENT .Personal Management Resources Organizations and Websites Affordable Colleges Foundation Website: http://www. affordablecollegesonline.org/financialaid/financial-aid-for-online-colleges Bureau of Labor Statistics U.S. Department of Labor Website: http://www.bls.gov Center for Student Credit Card Education Inc. Telephone: 650-347-3327 Website: http://www.cscce.com Consumer Financial Protection Bureau Website: http://www. consumerfinance.gov Federal Student Aid Website: http://www.studentaid.gov Federal Trade Commission Consumer Information Website: http://www.consumer.ftc.gov/ Independent Living Resources Website: http://www.ilrinc.com The Motley Fool Website: http://www.fool.com/ familyfool/welcome.htm National Association of Investors Corporation Toll-free telephone: 877-275-6242 Website: http://www.better-investing.org The SmartStudent™ Guide to Financial Aid Telephone: 724-538-4500 Website: http://www.finaid.org Students.gov Website: http://www.students.gov U.S. Department of Education’s Federal Student Aid on the Web Telephone: 319-337-5665 Toll-free telephone: 800-433-3243 Website: http://studentaid.ed.gov YoungBiz.com Website: http://www.youngbiz.com Acknowledgements The Boy Scouts of America extends thanks to Eagle Scout Brent A. Neiser, CFP, senior director of Strategic Program and Alliances at the Denver-based National Endowment for Financial Education® (NEFE®). Mr. Neiser wrote the 1996 edition of the Personal Management merit badge pamphlet upon which this edition is based. He was instrumental in this revision. NEFE® inspires empowered financial decision making for individuals and families through every stage of life. NEFE® is a private, nonprofit, nonpartisan, and noncommercial foundation. The NEFE® website has many tools for planning your college education and future. Visit www.nefe.org. National Endowment for Financial Education® Telephone: 303-741-6333 Websites: http://www.nefe.org http://www.smartaboutmoney.org http://www.hsfpp.org http://www.onyourown.org PERSONAL MANAGEMENT    63 Personal Management Merit Badge Workbook This workbook can help you but you still need to read the merit badge pamphlet (book). No one can add or subtract from the Boy Scout Requirements #33215. Merit Badge Workbooks and much more are below: Online Resources. Worksheet developer: craig@craiglincoln.com. Requirements revised: 2003, Workbook updated: April 2008. Scout’s Name: _________________________________________ Unit: _______________________________ Counselor’s Name: ______________________________________ Counselor’s Ph #: _______________________________ 1. Do the following: 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. ______________________________________________ ___________________________________________________________________________________________________ ___________________________________________________________________________________________________ c. Develop a written shopping strategy for the purchase identified in requirement la. 1. Determine the quality of the item or service (using consumer publications or ratings systems). _______________________ ___________________________________________________________________________________________________ ___________________________________________________________________________________________________ 2. Comparison shop for the item. Find out where you can buy the item for the best price. (Provide prices from at least two different price sources.) ________________________ __________________________________________________________________________ ________________________ __________________________________________________________________________ ________________________ __________________________________________________________________________ ________________________ __________________________________________________________________________ Call around; study ads. Look for a sale or discount coupon. Consider alternatives. _________________________________ ___________________________________________________________________________________________________ Personal Management p. 2 Merit Badge Workbook Scout’s Name: ________________________ Can you buy the item used? ____________________________________________________________________________ ___________________________________________________________________________________________________ Should you wait for a sale? _____________________________________________________________________________ ___________________________________________________________________________________________________ 2. Do the following: a. Prepare a budget reflecting your expected income (allowance, gifts, wages), expenses, and savings. Sample Budget Plan Budgeted Amounts per Week Month 1 Month 2 Month 3 Income Sources Allowance Gifts Wages Other Income Totals Expenses per Week Month 1 Month 2 Month 3 Savings-pay yourself 1st Total Actual Amounts Month 1 Month 2 Month 3 Total Tot. ActualTot. Budget Total Month 1 Month 2 Month 3 Total Act.-Budget Expense Totals Income - Expenses Track your actual income, expenses, and savings for 13 consecutive weeks. When complete, present the results to your merit badge counselor. b. Compare expected income with expected expenses. __________________________________________________________ ______________________________________________________________________________________________________ 1. If expenses exceed income, determine steps to balance your budget. 2. If income exceeds expenses, state how you would use the excess money (new goal, savings). _________________________ ______________________________________________________________________________________________________ ______________________________________________________________________________________________________ ______________________________________________________________________________________________________ Personal Management p. 3 Merit Badge Workbook Scout’s Name: ________________________ Sample Transaction Detail Ledger (Make additional copies of this page as needed.) Page ____ of ____ Date Transaction Description Deposit Withdrawal Balance __________ _______________________________________________________ __________ ______________ __________ __________ _______________________________________________________ __________ ______________ __________ __________ _______________________________________________________ __________ ______________ __________ __________ _______________________________________________________ __________ ______________ __________ __________ _______________________________________________________ __________ ______________ __________ __________ _______________________________________________________ __________ ______________ __________ __________ _______________________________________________________ __________ ______________ __________ __________ _______________________________________________________ __________ ______________ __________ __________ _______________________________________________________ __________ ______________ __________ __________ _______________________________________________________ __________ ______________ __________ __________ _______________________________________________________ __________ ______________ __________ __________ _______________________________________________________ __________ ______________ __________ __________ _______________________________________________________ __________ ______________ __________ __________ _______________________________________________________ __________ ______________ __________ __________ _______________________________________________________ __________ ______________ __________ __________ _______________________________________________________ __________ ______________ __________ __________ _______________________________________________________ __________ ______________ __________ __________ _______________________________________________________ __________ ______________ __________ __________ _______________________________________________________ __________ ______________ __________ __________ _______________________________________________________ __________ ______________ __________ __________ _______________________________________________________ __________ ______________ __________ __________ _______________________________________________________ __________ ______________ __________ __________ _______________________________________________________ __________ ______________ __________ __________ _______________________________________________________ __________ ______________ __________ __________ _______________________________________________________ __________ ______________ __________ __________ _______________________________________________________ __________ ______________ __________ __________ _______________________________________________________ __________ ______________ __________ __________ _______________________________________________________ __________ ______________ __________ __________ _______________________________________________________ __________ ______________ __________ __________ _______________________________________________________ __________ ______________ __________ __________ _______________________________________________________ __________ ______________ __________ __________ _______________________________________________________ __________ ______________ __________ __________ _______________________________________________________ __________ ______________ __________ __________ _______________________________________________________ __________ ______________ __________ __________ _______________________________________________________ __________ ______________ __________ __________ _______________________________________________________ __________ ______________ __________ __________ _______________________________________________________ __________ ______________ __________ __________ _______________________________________________________ __________ ______________ __________ __________ _______________________________________________________ __________ ______________ __________ __________ _______________________________________________________ __________ ______________ __________ __________ _______________________________________________________ __________ ______________ __________ __________ _______________________________________________________ __________ ______________ __________ __________ _______________________________________________________ __________ ______________ __________ __________ _______________________________________________________ __________ ______________ __________ __________ _______________________________________________________ __________ ______________ __________ __________ _______________________________________________________ __________ ______________ __________ Personal Management p. 4 Merit Badge Workbook Scout’s Name: ________________________ Sample Transaction Detail Ledger (Make additional copies of this page as needed.) Page ____ of ____ Date Transaction Description Deposit Withdrawal Balance __________ _______________________________________________________ __________ ______________ __________ __________ _______________________________________________________ __________ ______________ __________ __________ _______________________________________________________ __________ ______________ __________ __________ _______________________________________________________ __________ ______________ __________ __________ _______________________________________________________ __________ ______________ __________ __________ _______________________________________________________ __________ ______________ __________ __________ _______________________________________________________ __________ ______________ __________ __________ _______________________________________________________ __________ ______________ __________ __________ _______________________________________________________ __________ ______________ __________ __________ _______________________________________________________ __________ ______________ __________ __________ _______________________________________________________ __________ ______________ __________ __________ _______________________________________________________ __________ ______________ __________ __________ _______________________________________________________ __________ ______________ __________ __________ _______________________________________________________ __________ ______________ __________ __________ _______________________________________________________ __________ ______________ __________ __________ _______________________________________________________ __________ ______________ __________ __________ _______________________________________________________ __________ ______________ __________ __________ _______________________________________________________ __________ ______________ __________ __________ _______________________________________________________ __________ ______________ __________ __________ _______________________________________________________ __________ ______________ __________ __________ _______________________________________________________ __________ ______________ __________ __________ _______________________________________________________ __________ ______________ __________ __________ _______________________________________________________ __________ ______________ __________ __________ _______________________________________________________ __________ ______________ __________ __________ _______________________________________________________ __________ ______________ __________ __________ _______________________________________________________ __________ ______________ __________ __________ _______________________________________________________ __________ ______________ __________ __________ _______________________________________________________ __________ ______________ __________ __________ _______________________________________________________ __________ ______________ __________ __________ _______________________________________________________ __________ ______________ __________ __________ _______________________________________________________ __________ ______________ __________ __________ _______________________________________________________ __________ ______________ __________ __________ _______________________________________________________ __________ ______________ __________ __________ _______________________________________________________ __________ ______________ __________ __________ _______________________________________________________ __________ ______________ __________ __________ _______________________________________________________ __________ ______________ __________ __________ _______________________________________________________ __________ ______________ __________ __________ _______________________________________________________ __________ ______________ __________ __________ _______________________________________________________ __________ ______________ __________ __________ _______________________________________________________ __________ ______________ __________ __________ _______________________________________________________ __________ ______________ __________ __________ _______________________________________________________ __________ ______________ __________ __________ _______________________________________________________ __________ ______________ __________ __________ _______________________________________________________ __________ ______________ __________ __________ _______________________________________________________ __________ ______________ __________ Personal Management p. 5 Merit Badge Workbook Scout’s Name: ________________________ 3. Discuss with your merit badge counselor FIVE of the following concepts: a. The emotions you feel when you receive money. _____________________________________________________________ ______________________________________________________________________________________________________ b. Your understanding of how the amount of money you have with you affects your spending habits. _______________________ ______________________________________________________________________________________________________ c. Your thoughts when you buy something new ________________________________________________________________ ______________________________________________________________________________________________________ and your thoughts about the same item three months later. _______________________________________________________ ______________________________________________________________________________________________________ Explain the concept of buyer's remorse. ______________________________________________________________________ ______________________________________________________________________________________________________ ______________________________________________________________________________________________________ ______________________________________________________________________________________________________ d. How hunger affects you when shopping for food items (snacks, groceries). _________________________________________ ______________________________________________________________________________________________________ ______________________________________________________________________________________________________ e. Your experience of an item you have purchased after seeing or hearing advertisements for it. Did the item work as well as advertised? ____________________________________________________________________________________________ ______________________________________________________________________________________________________ ______________________________________________________________________________________________________ ______________________________________________________________________________________________________ f. Your understanding of what happens when you put money into a savings account. ___________________________________ ______________________________________________________________________________________________________ ______________________________________________________________________________________________________ g. Charitable giving. Explain its purpose ______________________________________________________________________ ______________________________________________________________________________________________________ and your thoughts about it. ________________________________________________________________________________ ______________________________________________________________________________________________________ ______________________________________________________________________________________________________ h. What you can do to better manage your money. ______________________________________________________________ ______________________________________________________________________________________________________ ______________________________________________________________________________________________________ 4. Explain the following to your merit badge counselor: a. The differences between saving __________________________________________________________________________ ______________________________________________________________________________________________________ Personal Management p. 6 Merit Badge Workbook Scout’s Name: ________________________ ______________________________________________________________________________________________________ and investing, __________________________________________________________________________________________ ______________________________________________________________________________________________________ ______________________________________________________________________________________________________ including reasons for using one over the other. _________________________________________________________________ ______________________________________________________________________________________________________ ______________________________________________________________________________________________________ b. The concepts of return on investment ______________________________________________________________________ ______________________________________________________________________________________________________ and risk. _______________________________________________________________________________________________ ______________________________________________________________________________________________________ ______________________________________________________________________________________________________ c. The concepts of simple interest ___________________________________________________________________________ ______________________________________________________________________________________________________ ______________________________________________________________________________________________________ and compound interest ___________________________________________________________________________________ ______________________________________________________________________________________________________ ______________________________________________________________________________________________________ and how these affected the results of your investment exercise. ____________________________________________________ ______________________________________________________________________________________________________ ______________________________________________________________________________________________________ 5. Select five publicly traded stocks from the business section of the newspaper. Explain to your merit badge counselor the importance of the following information for each stock: a. Current price c. The 52-week high and the 52-week low prices b. How much the price changed from the previous day Stock Current Price 1 Day Change 52 wk High 52 wk Low _____________________ _________________ ________________ ___________________ ___________________ _____________________ _________________ ________________ ___________________ ___________________ _____________________ _________________ ________________ ___________________ ___________________ _____________________ _________________ ________________ ___________________ ___________________ _____________________ _________________ ________________ ___________________ ___________________ 6. Pretend you have $1,000 to save, invest, and help prepare yourself for the future. Explain to your merit badge counselor the advantages or disadvantages of saving or investing in each of the following: Advantages Disadvantages a. Common stocks _________________________________________ ________________________________________ b. Mutual funds _________________________________________ ________________________________________ Personal Management p. 7 Merit Badge Workbook Scout’s Name: ________________________ c. Life insurance _________________________________________ ________________________________________ d. A certificate of deposit (CD) _________________________________________ ________________________________________ e. A savings account or U.S. savings bond _________________________________________ ________________________________________ 7. Explain to your merit badge counselor the following: a. What a loan is, _______________________________________________________________________________________ ______________________________________________________________________________________________________ ______________________________________________________________________________________________________ what interest is, _________________________________________________________________________________________ ______________________________________________________________________________________________________ ______________________________________________________________________________________________________ and how the annual percentage rate (APR) measures the true cost of a loan. _________________________________________ ______________________________________________________________________________________________________ ______________________________________________________________________________________________________ b. The different ways to borrow money. _______________________________________________________________________ ______________________________________________________________________________________________________ ______________________________________________________________________________________________________ c. The differences between a charge card, ____________________________________________________________________ ______________________________________________________________________________________________________ debit card, _____________________________________________________________________________________________ ______________________________________________________________________________________________________ and credit card. _________________________________________________________________________________________ ______________________________________________________________________________________________________ What are the costs and pitfalls of using these financial tools? _____________________________________________________ ______________________________________________________________________________________________________ Explain why it is unwise to make only the minimum payment on your credit card._______________________________________ ______________________________________________________________________________________________________ d. Credit reports ________________________________________________________________________________________ ______________________________________________________________________________________________________ and how personal responsibility can affect your credit report. ______________________________________________________ ______________________________________________________________________________________________________ e. Ways to reduce or eliminate debt. _________________________________________________________________________ ______________________________________________________________________________________________________ ______________________________________________________________________________________________________ 8. Demonstrate to your merit badge counselor your understanding of time management by doing the following: Personal Management p. 8 Merit Badge Workbook Scout’s Name: ________________________ 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. 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. Planned “To Do” Schedule “To Do” Tasks Scheduled Time A c t u a l C o mp l e t i o n T i me s f o r E a c h T a s k Day 1 Day 2 Day 3 Day 4 Day 5 Day 6 Day 7 __________________ ______________ ________ __________ _________ ________ _________ ________ __________ __________________ ______________ ________ __________ _________ ________ _________ ________ __________ __________________ ______________ ________ __________ _________ ________ _________ ________ __________ __________________ ______________ ________ __________ _________ ________ _________ ________ __________ __________________ ______________ ________ __________ _________ ________ _________ ________ __________ __________________ ______________ ________ __________ _________ ________ _________ ________ __________ __________________ ______________ ________ __________ _________ ________ _________ ________ __________ __________________ ______________ ________ __________ _________ ________ _________ ________ __________ __________________ ______________ ________ __________ _________ ________ _________ ________ __________ __________________ ______________ ________ __________ _________ ________ _________ ________ __________ __________________ ______________ ________ __________ _________ ________ _________ ________ __________ __________________ ______________ ________ __________ _________ ________ _________ ________ __________ __________________ ______________ ________ __________ _________ ________ _________ ________ __________ __________________ ______________ ________ __________ _________ ________ _________ ________ __________ 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. ___________________________________________________________________________________ ______________________________________________________________________________________________________ ______________________________________________________________________________________________________ 9. Prepare a written project plan demonstrating the steps below, including the desired outcome. This is a project on paper, not a real-life project. Examples could include planning a camping trip, developing a community service project or a school or religious event, or creating an annual patrol plan with additional activities not already included in the troop annual plan. Discuss your completed project plan with your merit badge counselor. a. Define the project. What is your goal? _____________________________________________________________________ ______________________________________________________________________________________________________ b. Develop a timeline for your project that shows the steps you must take from beginning to completion. ______________________________________________________________________________________________________ ______________________________________________________________________________________________________ ______________________________________________________________________________________________________ Personal Management p. 9 Merit Badge Workbook Scout’s Name: ________________________ ______________________________________________________________________________________________________ ______________________________________________________________________________________________________ ______________________________________________________________________________________________________ c. Describe your project. __________________________________________________________________________________ ______________________________________________________________________________________________________ d. Develop a list of resources. Identify how these resources will help you achieve your goal. ______________________________________________________________________________________________________ ______________________________________________________________________________________________________ ______________________________________________________________________________________________________ ______________________________________________________________________________________________________ ______________________________________________________________________________________________________ ______________________________________________________________________________________________________ e. If necessary, develop a budget for your project. ______________________________________________________________ ______________________________________________________________________________________________________ ______________________________________________________________________________________________________ ______________________________________________________________________________________________________ ______________________________________________________________________________________________________ 10. Do the following: a. Choose a career you might want to enter after high school or college graduation. ____________________________________ b. Research the limitations of your anticipated career ___________________________________________________________ ______________________________________________________________________________________________________ and discuss with your merit badge counselor what you have learned about qualifications such as education, skills, and experience. ____________________________________________________________________________________________ ______________________________________________________________________________________________________ ______________________________________________________________________________________________________ Online Resources (Use any Internet resource with caution and only with your parent’s or guardian’s permission.) Boy Scouts of America: ►scouting.org ►Guide to Safe Scouting ►Age-Appropriate Guidelines ►Safe Swim Defense ►Scout ►Tenderfoot ►Second Class ►First Class  Rank Videos ►Safety Afloat Boy Scout Merit Badge Workbooks: usscouts.org -or- meritbadge.org Merit Badge Books: www.scoutstuff.org ExpertVillage Computer Video Lessons: How to Create a Budget in Excel Insurance Investing Money Managing Balancing a Checkbook Bureau of Labor Statistics: http://www.bls.gov The Motley Fool: http://www.fool.com Consumer Protection FTC: http://www.ftc.gov/bcp/ Nat. Assn of Investors: http://www.better-investing.org Guide to Financial Aid: http://www.finaid.org http://www.students.gov http://www.studentaid.ed.gov http://www.youngbiz.com 
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