2010
PERSONAL MANAGEMENT
PROGRAM OVERVIEW
& WORKBOOK
CENTRAL COMMUNITY COLLEGE
MERIT BADGE UNIVERSITY
OVERLAND TRAILS COUNCIL
7/31/2010
TABLE OF CONTENTS
PROGRAM OVERVIEW
MERIT BADGE REQUIREMENTS
(PRE-REQUISITE REQUIREMENTS IN BOLD RED UNDERLINED ITALICS)
WORKBOOK PART ONE
(COMPLETE BEFORE ATTENDING MBU)
WORKBOOK PART TWO
(WILL BE COMPLETED DURING CLASS)
APPLICATION for MERIT BADGE
(MUST HAVE UNIT LEADER SIGNATURE PRIOR TO CLASS)
FEBRUARY 2010
Information in this booklet was accurate at the time of publishing.
Boy Scouts Requirements 2010, Copyrighted Boy Scouts of America
Program Overview & Workbook was reviewed by
MBU Staff/Committee.
PERSONAL MANAGEMENT PROGRAM OVERVIEW
COUNSELOR:
tba
C/O:
Overland Trails Council
PO Box 1361
Grand Island, NE 68802-1361
LOCATION:
Central Community College
TRANSPORTATION:
N/A
ADDITIONAL COSTS:
None
CLASS SIZE:
10
BRING TO CLASS:
Personal Management merit badge pamphlet.
Personal Management merit badge workbook, part one & part two
Signed “Application for Merit Badge”, found at the end of the merit badge
workbook. (This will be your only record of work completed on this merit
badge.) If your Council requires the official “blue card”, you must bring one with
you to class.
PRE-REQUISITES:
Complete Part One of the workbook before class (requirements 1, 2, 8, 9, & 10).
Complete information on the “Application for Merit Badge” including
Scoutmasters signature.
CURRICULUM:
Requirements 3, 4, 5, 6, & 7 will be completed during class (part two of
the workbook). Pre-requisites will also be reviewed during class.
PERSONAL MANAGEMENT
Boy Scouts Requirements 2010
PRE-REQUISITE REQUIREMENTS ARE PRINTED IN BOLD UNDERLINED RED ITALICS &
MUST BE COMPLETED BEFORE CLASS.
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 your actual income, expenses, and savings for 13 consecutive
weeks. (You may use the forms provided in the merit badge pamphlet, devise your
own, or use a computer-generated version.) 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).
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.
4.
5.
6.
7.
8.
g) Charitable giving. Explain its purpose and your thoughts about it.
h) What you can do to better manage your money.
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.
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
b) How much the price changed from the previous day
c) The 52-week high and the 52-week low prices
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:
a) Common stocks
b) Mutual funds
c) Life insurance
d) A certificate of deposit (CD)
e) A savings account or U.S. savings bond
Explain to your merit badge counselor the following:
a) What a loan is, what interest is and how the annual percentage rate (ARP) 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.
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.
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 time line 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) 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.
PERSONAL MANAGEMENT WORKBOOK
PART ONE, PRE-REQUSITIES
Name
Unit #
Council
District
Part One of the workbook must be completed before class.
Bring the entire workbook (part one and part two) with you to class.
Also bring the “Application for Merit Badge” signed by your scoutmaster (included at the end of the workbook).

1. Do the following:
a) Choose an item that your family might want to purchase that is considered a major
expense.

An item that your family might want to purchase:

b) Write a plan that tells how your family would save money for the purchase identified in
requirement 1a.
Write a plan:

1) Discuss the plan with your merit badge counselor.
Discuss the plan:

2) Discuss the plan with your family
Discuss the plan with your family:
PERSONAL MANAGEMENT WORKBOOK, PART ONE, p.2
Name
1. b) continued

3) Discuss how other family needs must be considered in this plan.
Discuss how other family needs:

c) Develop a written shopping strategy for the purchase identified in requirement 1a.
Develop a written shopping strategy:

1) Determine the quality of the item or service (using consumer publications or ratings
systems).
Quality of the item or service:

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?
Comparison shop:
The best price: (provide at least two different price sources)
PERSONAL MANAGEMENT WORKBOOK, PART ONE, p.3
Name
1. c) 2. Continued
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 your actual income, expenses, and savings for 13 consecutive weeks.
(You may use the forms provided in the merit badge pamphlet, devise your own, or use a
computer-generated version.) when complete, present the results to your merit badge
counselor.

To help you complete this requirement the “Basic Living Expenses” & “Personal Budget Sheet” is
included at the end of this workbook.

b) Compare expected income with expected expenses.
1) If expenses exceed income, determine steps to balance your budget.

Determine steps to balance your budget:

2) If income exceeds expenses, state how you would use the excess money (new goal,
savings).
How you would use the excess money:
PERSONAL MANAGEMENT WORKBOOK, PART ONE, p.4
Name

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.
To help you complete this requirement a “To Do” List is included at the end of this workbook.

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.
To help you complete this requirement a “Weekly Planner” is included at the end of this workbook.

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.
To help you complete this requirement a “Daily Journal” is included at the end of this workbook.

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.
Review and discuss what you learned:
What might you do differently next time:
PERSONAL MANAGEMENT WORKBOOK, PART ONE, p.5
Name

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?
Define:
Goal:

b) Develop a time line for your project that shows the steps you must take from beginning
to completion.
Time line:

c) Describe your project.
Describe your project:
PERSONAL MANAGEMENT WORKBOOK, PART ONE, p.6
Name
9. continued

d) Develop a list of resources. Identify how these resources will help you achieve your goal.
Resources:
Identify how resources will help:

e) If necessary, develop a budget for your project.
To help you complete this requirement a “Budget Worksheet” is included at the end of this workbook.
PERSONAL MANAGEMENT WORKBOOK, PART ONE, p.7
Name
10. Do the following:
a) Choose a career you might want to enter after high school or college graduation.


Choose a career:

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.
Limitations of career:
Career qualifications:
Education:
Skills:
Experience:
PERSONAL MANAGEMENT WORKBOOK
PART TWO, CLASS CURRICULUM
Name
Unit #
Council
District
Part Two of the workbook will be completed during class.

3. Discuss with your merit badge counselor FIVE of the following concepts:

a) The emotions you feel when you receive money.
Emotions you feel:

b) Your understanding of how the amount of money you have with you affects your
spending habits.
How the amount of money 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.
Thoughts when buying something new and three months later:
Concept of buyer’s remorse:

d) How hunger affects you when shopping for food items (snacks, groceries).
How hunger affects you:
PERSONAL MANAGEMENT WORKBOOK, PART TWO, p.2
Name
3. continued

e) Your experience of an item you have purchased after seeing or hearing advertisements
for it. Did the item work as well as advertised?
Your experience of an item you have purchased:
Work as well as advertised:

f) Your understanding of what happens when you put money into a savings account.
Putting money into a savings account:

g) Charitable giving. Explain its purpose and your thoughts about it.
Charitable giving:

h) What you can do to better manage your money.
Better manage your money:
PERSONAL MANAGEMENT WORKBOOK, PART TWO, p.3
Name

4. Explain the following to your merit badge counselor:
a) The differences between saving and investing, including reasons for using one over the
other.

Differences between saving and investing:
Reasons for using one over the other:

b) The concepts of return on investment and risk.
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.
Concept of simple interest:
Compound interest:
How these affected the results of your investment exercise:
PERSONAL MANAGEMENT WORKBOOK, PART TWO, p.4
Name

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
Importance of current price for each stock:
Stock
Current Price
1
2
3
4
5

b) How much the price changed from the previous day
Importance of price change from previous day:
Stock
How much price change
from previous day
1
2
3
4
5

c) The 52-week high and the 52-week low prices
Importance of 52-week high and low prices:
Stock
1
2
3
4
5
52-week High 52-week Low
PERSONAL MANAGEMENT WORKBOOK, PART TWO, p.5
Name

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:

a) Common stocks
Advantages

b) Mutual funds
Advantages

Disadvantages
d) A certificate of deposit (CD)
Advantages

Disadvantages
c) Life insurance
Advantages

Disadvantages
Disadvantages
e) A savings account or U.S. savings bond
Advantages
Disadvantages
PERSONAL MANAGEMENT WORKBOOK, PART TWO, p.6
Name

7. Explain to your merit badge counselor the following:
a) What a loan is, what interest is and how the annual percentage rate (ARP) measures the
true cost of a loan.

Explain what a loan is:
What interest is:
How the annual percentage rate (ARP) measures the true cost of a loan:

b) The different ways to borrow money.
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.
Differences between:
Charge card
Debit card
Credit card
PERSONAL MANAGEMENT WORKBOOK, PART TWO, p.7
Name
7. continued

d) Credit reports and how personal responsibility can affect your credit report.
Explain credit reports:
How personal responsibility can affect your credit report:

e) Ways to reduce or eliminate debt.
Explain ways to reduce or eliminate debt:
PERSONAL MANAGEMENT WORKBOOK
Notes
APPLICATION FOR MERIT BADGE
Name:
Address:
City:
State:
Is a registered
Boy Scout,
Varsity Scout,
Venturer,
of
No.
MERIT BADGE UNIVERISTY
Merit Badge: Personal Management
Counselor:
Address:
Overland Trails Council
PO Box 1361
2808 O’Flannagan
Grand Island, NE 68802-1361
Phone:
308-382-3717
Troop, team, crew, ship
District:
Council:
email: mbuotc@yahoo.com
and is qualified to begin working for this merit badge and has completed the following pre-requisite requirements:
PRE-REQUISITE REQUIREMENTS
Requirement
No. and letter
Date of
Approval
Counselor
Initial
1
2
8
9
Requirement
No. and letter
Date of
Approval
Counselor
Initial
10
The applicant has personally appeared before me and demonstrated to my satisfaction that he has met all prerequisites requirements for the above stated merit badge and is ready to attend his assigned MBU class.
Signature of Unit Leader
APPLICANTS RECORD
Requirement
No. and letter
Date of
Approval
Date
Counselor
Initial
Requirement
No. and letter
Date of
Approval
Counselor
Initial
3
4
5
6
7
The applicant has personally appeared before me and demonstrated to my satisfaction that he has completed all
requirements above for the
Merit Badge: Personal Management
Name of Counselor:
Signature of Counselor
Date
SCOUT INSTRUCTIONS
 Complete your name, address, city, unit type & number, district, & council on the
Application for Merit Badge.
 Your unit leader must sign the Application for Merit Badge before attending class.
 All other information is already printed on the Application for Merit Badge; please make
sure all information is correct.
 The merit badge counselor is registered & approved for this merit badge and is on the
MBU Counselor’s List.
 Read the merit badge pamphlet.
 Attend the merit badge class.
 Always meet with your counselor along with a buddy (a Scout, friend, or parent)
 Have your merit badge worksheet with you when you attend class.
 If the merit badge pre-requisites are not completed before class, you will not be able
to complete the merit badge during this weekend event, you will have to follow up
with your Unit’s Advancement Chair when you return home
 PLEASE BE AWARE THAT SOME COUNSELORS WILL NOT ALLOW YOU TO ATTEND
THEIR CLASS WITHOUT PRE-REQUISITES COMPLETED—CLASS CURRICULUM IS
DEPENDENT ON PRE-REQUISITE WORK BEING COMPLETED!
COUNSELOR INSTRUCTIONS
 Never meet alone with a Scout.
 Verify all information & merit badge name on Application for Merit Badge is correct.
 Sign your name on the line at the bottom of “SECTION B APPLICANTS RECORD”.
Name
Income
Week 1
Planned Actual
Week 2
Planned Actual
Week 3
Planned Actual
Week 4
Planned Actual
Week 5
Planned Actual
Week 6
Planned Actual
Week 7
Planned Actual
Week 5
Planned Actual
Week 6
Planned Actual
Week 7
Planned Actual
Allowance
Job
Gifts
Other
Totals
Expenses
Week 1
Planned Actual
Savings
Hobbies
Scout Expenses
Snacks
Gifts
Entertainment
Miscellaneous
Totals
Week 2
Planned Actual
Week 3
Planned Actual
Week 4
Planned Actual
Name
Income
Week 8
Planned Actual
Week 9
Planned Actual
Week 10
Planned Actual
Week 11
Planned Actual
Week 12
Planned Actual
Week 13
Planned Actual
Total
Planned Actual
Week 12
Planned Actual
Week 13
Planned Actual
Total
Planned Actual
Allowance
Job
Gifts
Other
Totals
Expenses
Week 8
Planned Actual
Week 9
Planned Actual
Week 10
Planned Actual
Week 11
Planned Actual
Savings
Hobbies
Scout Expenses
Snacks
Gifts
Entertainment
Miscellaneous
Totals
Personal Management Merit Badge Pamphlet, Boy Scouts of America, 2009 Printing
Basic Living Expenses
Name:
Expense
Savings
Rent
Groceries
Eating out
Utilities
Telephone
Personal grooming
Car/transportation (gas, license, parking,
Bus fare, insurance, maintenance)
Clothing/laundry
Insurance
Medical care
Charities
Entertainment (cable TV, movies, dating)
CDs, DVDs, video games, etc.
Recreation
Sports/hobbies
Vacations
Books, magazines
Gifts
Miscellaneous (items not covered by
Other categories)
Total monthly expenses
Amount
$
$
$
Personal Management Merit Badge Pamphlet, Boy Scouts of America, 2009 Printing
PROJECT BUDGET
Name of Project:
Budget Prepared By:
Date:
INCOME
Total Income (net)
Loan
Donations
Fundraising
Other
Frequency
Amount
Total
Total Income
EXPENSES
Expenses/Spending
Amount
Rental Fees
Transportation
Insurance Meals/Food
Meals/Food
Admission Fees/Park Permits
Other
Total Expenses
Total
“To Do” List
Name:
1
2
3
4
5
6
7
8
9
10
Week of:
Notes
Weekly Planner
Name:
Set Activities:
Week of:
To do list:




Set Activities:
To do list:




Set Activities:
To do list:




Set Activities:
To do list:




Set Activities:
To do list:




Set Activities:
To do list:




Set Activities:
To do list:




Daily Journal
Name:
Date:
Tasks completed from your “to do” list:
Tasks completed from your “to do” list:
Tasks completed from your “to do” list:
Tasks completed from your “to do” list:
Continued
Tasks completed from your “to do” list:
Tasks completed from your “to do” list:
Tasks completed from your “to do” list: