10 October 2008
AP Tells Public About Money Merit Badges
Posted by admin under: advancement .
Forbes.com picked up an AP article about how Boy Scouts need to earn the Personal Management Merit Badge in order to reach Eagle Rank.
Perhaps because of their outdoorsy image, few realize that money management is a part of scouting. To earn what’s called the personal management badge, boys must know the difference between simple and compound interest and how mutual funds differ from CDs.
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The purpose of the badge isn’t to transform scouts into investment whizzes, but to get them acquainted with the fundamentals of personal finance. It’s the kind of background many Americans may wish they had today, as they scramble to understand the impact of the financial crisis on their savings.
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Many adults today could have benefited from such early exposure to finance, said Ellen Siegel, a certified financial planner and president of Ellen R. Siegel & Associates in Miami.
We can thank Candice Choi for letting the public know the important news that Boy Scout lessons don’t end at the forest’s edge. Getting a little more honesty and character into the financial markets sounds like good news to me.
Click here if you want to go to national’s website to see the details on this or any other merit badges offered by the BSA.
- Scoutmaster Merit Badge Veto
- New Boy Scout Merit Badges
- Spend Second Cup on Savings Book
- Steve Says Merit Badges Are Unlimited
- Scouting Self-Esteem Savvy
