PERSONAL MANAGEMENT MERIT BADGE

Pre-Work Guide for Scouts

Instructor: Daniel W. Opstal, EdD, MBA

Eagle-Required Merit Badge

START NOW: This badge cannot be finished in one day

Personal Management includes two long-term projects that must be done at home over time: a 13-week budget and tracking record (Requirement 2) and a one-week time management schedule and journal (Requirement 8). These cannot be done on the day of the event.

If Merit Badge Day is less than 13 weeks away, you will not finish Requirement 2 before the event. That is okay. Write your budget and start tracking right away, bring the weeks you have completed, and you will receive a partial completion. You can finish Requirement 2 with a counselor after the event.

Why Pre-Work Matters

Merit Badge Day gives us time to discuss the concepts in Requirements 3 through 7 and Requirement 10, and to review your work. It does not give us time to create budgets, research purchases, or write project plans from scratch. Scouts who arrive with their pre-work done will get the most out of the day and leave much closer to earning the badge.

Remember that you must meet each requirement exactly as written, no more and no less. Always check the official, current requirements at scouting.org/merit-badges/personal-management or in Scoutbook. The free Personal Management merit badge pamphlet can be downloaded from Scouting America's website and is the best resource for this badge.

Before You Begin

Get a signed Blue Card or Scoutbook approval from your Scoutmaster before starting work.
Download or get the Personal Management merit badge pamphlet and read through it.
Talk with your parent or guardian about this badge. You will need their help with Requirement 1 (a family purchase) and Requirement 2 (your income and expenses).
Set up a folder or binder (paper or digital) to keep all of your work in one place.

Suggested Timeline

Week 1 is the week you receive this guide. If Merit Badge Day is fewer than eight weeks away, combine steps to fit the time you have. The most important thing is to write your budget and start tracking in Week 1.

When

What to Do

Week 1	Get your Blue Card or Scoutbook approval and the pamphlet. Write your 13-week budget (Req. 2a and 2b) BEFORE you start tracking, then begin tracking actual income and expenses (Req. 2c) right away.
Weeks 2–3	Keep tracking every week. Choose your family purchase and write the savings plan and shopping strategy (Req. 1).
Weeks 4–5	Keep tracking. Write your project plan (Req. 9).
Weeks 6–7	Keep tracking. Read the pamphlet chapters on saving, investing, insurance, and credit (Reqs. 3–7) and take notes. Pick a career to talk about for Req. 10.
Week 8	Keep tracking. Complete your one-week to-do list, schedule, and daily journal (Req. 8). Choose a normal week, not a holiday week.
Week before the event	Organize your folder. Review the checklist at the end of this guide. Prepare your notes for discussion.
Through Week 13	Finish all 13 weeks of tracking, then meet with a counselor to complete Req. 2d and any other open items.

Requirement-by-Requirement Guidance

Each section below shows what you need to complete at home and what will be discussed at the event. Requirement wording below is summarized; use the official requirements for the exact wording.

Requirement 1: Family Major Purchase(Complete at home)

Choose a major purchase your family might actually make, such as a refrigerator, a family computer, a used car, a vacation, or a lawn mower. Pick something realistic for your family.

1(a): Write down the item and why your family might want it.
1(b): Write a savings plan showing how your family could save for it: how much per week or month, for how long, and where the money would come from. Discuss the plan with your family and think about other family needs that must still be paid for while saving.
1(c): Write a shopping strategy. Check quality using consumer ratings or reviews, and compare prices from at least two sources. Consider sales, coupons, buying used, or waiting.

Bring: Your written savings plan and shopping strategy, including your price comparisons and the sources you used. Be ready to explain what your family said about the plan.

Requirement 2: 13-Week Budget and Tracking(Start immediately)

Important: A budget is a plan, not a diary

Your budget (2a) is your prediction of what will happen over 13 weeks. It must be written BEFORE you start tracking what actually happens (2c). Do not track for 13 weeks and then write a budget to match. Counselors will check for this.

2(a): Make a budget for 13 consecutive weeks showing your expected income (allowance, gifts, wages from jobs or chores), expected expenses, and savings.
2(b): Compare expected income to expected expenses. If expenses are higher, write down how you would balance the budget. If income is higher, write down what you would do with the extra money.
2(c): Track your actual income, expenses, and savings every week for the same 13 weeks. You can use the forms in the pamphlet, your own chart, or a spreadsheet.
2(d): After 13 weeks, compare your budget to what really happened and be ready to discuss what worked and what you would do differently. (This will likely be completed after the event.)

Tip: Record every transaction as it happens, even small ones like a snack or a game download. Keep receipts in an envelope. It is much harder to remember at the end of the week.

Bring: Your written 13-week budget, your answer to 2(b), and your tracking records for all weeks completed so far.

Requirement 3: Money Concepts (Discussed at the event)

You will discuss FIVE of the eight concepts listed in the requirement with your counselor. These are personal reflection questions about your own habits and feelings around money, such as how you feel when you receive money, buyer's remorse, shopping when hungry, advertising, savings accounts, charitable giving, and how you could manage money better.

Prepare: Pick the five you want to discuss and jot down a few notes or real examples from your own life for each one. There are no wrong answers, but you should be ready to share honest, thoughtful responses.

Requirement 4–7: Saving, Investing, Insurance, and Credit (Discussed at the event)

These requirements are explained to the counselor and will be covered in group discussion at Merit Badge Day. However, you must be able to explain each topic yourself, so read the matching pamphlet chapters before you come.

Req.

Topics to Read About and Take Notes On

4	Saving vs. investing; return on investment and risk; simple vs. compound interest; diversification; why saving for retirement matters
5	What these are and how they work: common stocks, mutual funds, life insurance, certificates of deposit (CDs), savings accounts, and U.S. savings bonds
6	Why people buy these kinds of insurance and how they work: auto, health, homeowner's or renter's, and whole life vs. term life
7	Loans, interest, and APR; ways to borrow; charge vs. debit vs. credit cards; why paying only the minimum is unwise; credit reports; ways to reduce debt

Prepare: Bring a page or two of notes in your own words. Ask a parent or trusted adult how your family uses things like a savings account, insurance, or a credit card; real examples make these discussions much easier.

Requirement 8: Time Management (Complete at home)

8(a): Write a to-do list of tasks for the coming week (homework, chores, personal projects), in order of importance to you.
8(b): Make a seven-day calendar. Fill in your set activities first (school, practices, jobs, Scout meetings, etc.), then schedule your to-do tasks around them.
8(c): Follow your schedule for the week and keep a daily journal noting when you actually completed each task compared to when you planned to.
8(d): Be ready to review your list, schedule, and journal with your counselor and discuss what worked and what you would change.

Tip: Choose a normal school week. Avoid a holiday week or a week when you are away, so you have real tasks to schedule.

Bring: Your to-do list, seven-day schedule, and completed seven-day journal.

Requirement 9: Project Plan (Complete at home)

Write a plan for a project on paper. You do not have to actually carry it out. Good ideas include a patrol campout, a service project, a school or religious event, or an annual patrol plan.

Define the project and your goal (what outcome do you want?).
Build a timeline of steps from beginning to completion.
Describe the project.
List the resources you will need (people, equipment, places, money) and how each one helps you reach your goal.
Create a budget for the project.

Bring: Your completed written project plan with all five parts.

Requirement 10: Career Planning (Discussed at the event)

This requirement will be covered as a discussion at Merit Badge Day. You do not need to turn in written research, but you do need to come ready to talk about a specific career.

10(a): Choose a career you might want after high school or college. Be ready to discuss the qualifications, education, skills, and experience it requires.
10(b): Be ready to explain what it might cost to prepare for that career, such as tuition, training, supplies, and room and board, and how you could prepare for those costs and cover any shortfall (savings, scholarships, work, military service, financial aid, etc.).

Prepare: Pick your career before the event and spend a little time learning about it. The U.S. Bureau of Labor Statistics Occupational Outlook Handbook (bls.gov/ooh), college and trade school websites, and talking with someone who works in that field are all good places to start. A few notes are helpful but not required.

Notes for Parents and Guardians

Please support your Scout without doing the work for them. Merit badges are meant to be earned through the Scout's own effort.
Requirement 2 is most meaningful when the Scout actually handles some money. If your Scout has no regular income or expenses, consider temporarily giving them responsibility for a small, real expense (such as lunches or entertainment) along with an allowance or pay for chores.
Requirement 1 is about a real family decision. Your Scout will need to discuss the plan with you, so please set aside time for that conversation.
Scouts who do not finish every requirement at the event will receive a partial completion and can finish with a registered counselor afterward.

What to Bring on Merit Badge Day

Signed Blue Card or Scoutbook approval
Req. 1: Family purchase, written savings plan, and shopping strategy with price comparisons
Req. 2: Written 13-week budget, 2(b) comparison, and tracking records for weeks completed
Req. 3: Notes on the five concepts you chose
Reqs. 4–7: Your reading notes from the pamphlet
Req. 8: To-do list, seven-day schedule, and seven-day journal
Req. 9: Written project plan (goal, timeline, description, resources, budget)
Req. 10: Your chosen career and any notes to help you discuss it
Pen or pencil, and your merit badge pamphlet (printed or on a device)

Scout Pre-Work Acknowledgment

I have read this guide and understand the work I need to complete before Merit Badge Day.

Scout Name: ______________________________ Troop: ________

Scout Signature: __________________________ Date: __________

Parent/Guardian Signature: ________________ Date: __________

Personal Management (A)