Professional Documents
Culture Documents
November 2008
Troop 171
Mooresville, NC
Piedmont Council
Boy Scouts of America
Front of card:
Back of card:
Requirement Summary
Requirements
To be completed at home
Will discuss examples for you to follow
WHAT IS PERSONAL
MANAGEMENT ALL ABOUT?
WHAT IS PERSONAL
MANAGEMENT ALL ABOUT?
Personal Management..
Smart Shoppers!
Do:
Research the item they want to
buy
Watch for sales.
Comparison Shop.
Use Advertisements.
Consider Alternatives.
Use Consumer Buying Guides.
Use the internet to check prices.
Products Features
Quality
Buy It On Sale!
Clearance Items
Seasonal Sales
Promotional Sales New Items
Blemished Goods..special in store discounts.
Flea Markets
Garage Sales/ Yard Sales
Swap Meets
Comparison Shopping
Advertisements
What is this???
Alternatives/Impulse Buying
Requirement #1.Discussion
Cash or Credit$$$$$
Always pay off your monthly balance owed. Try not to carry
a balance on the card, you will pay much more than the
original price. WHY??
Preparing Budgets
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Wallet/Piggy Bank/Drawer?
Bank/ Credit Union?
Investments?
Stocks
Bonds
Mutual Funds
Assets/Land/Properties
Bank Accounts
Investing vs Savings
Education, learn new trades, new skills to help you earn more income.
Most important to
understand!
DIFFICULT PART
PAY CLOSE ATTENTION
Types of Investments
Two Basic Forms
Loaned Investments
Its like loaning the bank your money for interest, but banks guarantee
your money, the above promises to pay.
Types of Investments
Two Basic Forms
Owned Investments
You can own stock in a company (ex Mc Donalds), you share in the
profits and losses of the company. You own part of that company.
If it is a stock, you buy for one amount and sell it at the higher price
for a gain.\
If it is real estate, you buy low and sell high for a gain..market
conditions.
Capital Gains: it is the profit you make on the sale of an asset.
You want to put your money into a low risk investment that yields a high
return. These types of investments are unlikely.
Types of Investments
Types of Investments
These are top rated companies that are considered leaders in the
industry.
They have consistent earnings over time.
They pay small dividends, but stock price usually rises and your total
return usually increases higher than inflation. (Medium Risk)
Mutual Funds
Many people are afraid to invest in one stock. They use Mutuals.
Mutual Funds are a combination of stocks from a dozen or more
companies. A fund manager is in charge of a lot of investors money.
Mutual Funds can be medium to high risk based upon the industry or
companies invested in.
Types of Investments
Collectibles
Stock Market
Power of Compounding
You have the same $100.00 and you leave the entire
investment alone. The interest is 10% . The first year you get
interest of $10.00. You would have $110.00. The second
year, you would receive 10% of the $110.00, so you would
now have interest added of $11.00 that next year.
Power of Compounding
Spend Earnings
$10
$10
$10
$10
$10
$10
$10
$10
$10
$10
$100
Re-invest Earnings
$10
$11
$12.10
$13.31
$14.64
$16.11
$17.72
$19.49
$21.44
$23.58
$159.39
Borrowing Money
Most loans require you to pay back the principal and also a
finance charge (interest).
Lenders like banks, charge borrowers for the privilege to use their
money. You pay them interest on the amount borrowed.
Borrowing Money
Borrowing Money
Borrowing Money
Credit Cards..
Credit Record..
Setting Goals
Setting Priorities
Accomplishing Goals
Setting Goals
To organize your self you need to list your short term and
long term goals.
Short term goals are now, tomorrow, next week.
Long term goals are over several weeks, months a year
etc.
You have to be specific of what you need to do.
Write your goals down to see what time is needed to
complete.
Short term goals are your daily to do list.
All goals are important, but some are more important
than others.
Setting Priorities
Accomplishing Goals
Planning A Project
Requirement Discussion
Requirements
#3
#4
#5
#6
#7
#9
Concept Discussion
Savings/Investing
Stocks
Difference Investing
Loan/APR
Written Plan
Requirement HOMEWORK
Requirements
Requirement #1
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Requirement #8
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Requirement #10
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