Financial Skills Patch Program®

Description

2″ Embroidered Iron-On Patch.

This 2″ iron-on embroidered patch is part of our patch program®.

Print

Suggestions for how younger girls can earn the Financial Skills Patch.

• Download the “What Should You Do” worksheet provided with your order confirmation. Each scenario represents a situation you may find yourself in. How you handle yourself will represent your level of maturity. Circle the letter that best represents an adult behavior. There may be more than one right answer. Discuss why you chose your answer.
• Discuss different ways kids can earn money (allowance, chores, small jobs).
• Create a savings jar or bank and set a savings goal. Decorate it and start saving!
• Learn the difference between needs and wants. Make a list of each.
• Create a simple budget for a week using an allowance or hypothetical money.
• Visit a local bank or have a banker visit your troop to explain how banks work.
• Learn how to write a check and practice with play money.
• Discuss what investing means and why people invest money.
• Create a simple chart showing how saving money can grow over time with interest.
• Draw a picture or write a story about a time you saved money for something special.
  Share your savings goal and progress with your troop or family.

-or-

• Earn Any Girl Scout Financial Literacy Badge

Suggestions for how older girls can earn the Financial Skills Patch.

• Download the “What Should You Do” worksheet provided with your order confirmation. Each scenario represents a situation you may find yourself in. How you handle yourself will represent your level of maturity. Circle the letter that best represents an adult behavior. There may be more than one right answer. Discuss why you chose your answer.
• Learn about various part-time jobs suitable for teenagers and the skills needed for them.
• Set a medium-term savings goal (e.g., for a special purchase) and make a plan to reach it.
• Explore different career paths, the education required for them and the entry level salary range.
• Open a savings account with a parent or guardian and learn about interest and how it can help your savings grow.
• Develop a monthly budget including all possible expenses (e.g., entertainment, savings, gifts). Track your spending for a month and compare it to your budget. Adjust as necessary.
• Open a mock checking account and practice balancing a checkbook.
• Learn about online banking and how to use it safely.
• Understand different types of bank accounts (savings, checking, certificates of deposit). Learn about fees and interest rates, and how to choose the best bank account for your needs.
• Learn about different types of investments (stocks, bonds, mutual funds) and their risks and benefits. Play an investment simulation game to understand how investments can grow or lose value.

-or-

• Earn Any Girl Scout Financial Literacy Badge

Additional information