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Hello my name is Michael Claire I'm a personal management marriage counselor with the Orange County Boy Scout Council in Orange County California this is a brief presentation on requirement one of the personal merit badge based on the 2003 for 2004 requirements and the 2008 pamphlet you may find this material useful even if you are not a Boy Scout that is working on this merit badge in this brief video I will be discussing requirement one of the personal management merit badge watching this video does not meet the requirement you will still need to do the work, but hopefully this video will give you some ideas and a nudge in the right direction there are three parts to requirement one you have to choose an item that is a major expense for your family that you will create a purchase plan for you have to write the plan that explains how you and your family will save the money to purchase the item that you chose, and lastly you will have to develop a written shopping strategy for that item you do not actually have to buy the item that you chose but if you plan it well and your family does purchase it you will feel the pride of having develop the plan that your family followed you will be providing leadership to your family the first requirement of the personal management merit badge requirement 1a is to choose an item that your family might want to purchase that is considered a major expense please note that there is no requirement to actually purchase the item, but you will be creating plans on how you would purchase the item if you are going to actually purchase it there are an unlimited number of choices for this requirement one of the most popular ones is a large screen television however many of the Boy Scouts that I have worked with have chosen a car or a computer or even a grand vacation the choice is up to you not the requirement is that your family would consider it a major expense and a major expense varies from family to family it needs to be something that your family would have to plan for and not something that could be an impulse buy so choose an item that you would like to spend some time on figuring out how to buy it once you ever quite have completed requirement 1a and have chosen a major expense for your family you need to write a plan that tells how your family would save money for the purchase in your written plan be sure to identify specific steps to save the money pay particular attention to things that you will give up to save money for instance a comma plan that is probably insufficient is will eat out less often how will you know when you haven't eaten out a better plan would be something along the lines of we eat out an average of three meals a week we are going to eat out less often to save money when we choose to eat a meal in instead of out we will put the money that we would have spent it into a savings account you really need to know when you save the money and how you set that money aside other ways of saving money...