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<b>1. <section begin=req1 /><noinclude></noinclude>What is a household budget and what is the importance of having one?
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<b>2. <section begin=req2 /><noinclude></noinclude>Make a list of your family's expenses and classify them as necessary, useful and superfluous.
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<b>3. <section begin=req3 /><noinclude></noinclude>Check your family's shopping list for grocery and hygiene products. Are all the items really necessary?
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<b>4. <section begin=req4 /><noinclude></noinclude>What is the best day and place to get vegetables, fruits and greens in your neighborhood?
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<b>5. <section begin=req5 /><noinclude></noinclude>What can you and your family do to save on water, electricity and telephone?
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<b>6. <section begin=req6 /><noinclude></noinclude>What is inflation?
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<b>7. <section begin=req7 /><noinclude></noinclude>What taxes does your family have to pay?
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<b>8. <section begin=req8 /><noinclude></noinclude>What kind of shopping should never be done with credit? Why?
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<b>9. <section begin=req9 /><noinclude></noinclude>What is interest? How should it be calculated?
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<b>10. <section begin=req10 /><noinclude></noinclude>Investigate what is the interest rate and what are the financial responsibilities in the lines of credit lines for the following:
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:<b>a. <section begin=req10a /><noinclude></noinclude>Credit card
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:<b>b. <section begin=req10b /><noinclude></noinclude>Overdraft
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:<b>c. <section begin=req10c /><noinclude></noinclude>Personal loan
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<b>11. <section begin=req11 /><noinclude></noinclude>What measures should be taken when the family is in debt?
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<b>12. <section begin=req12 /><noinclude></noinclude>What percent of the household income should be saved?
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<b>13. <section begin=req13 /><noinclude></noinclude>Investigate at least two methods besides a passbook to invest money saved. What are the advantages and disadvantages of each?
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<section begin=challenge />
<b>14. <section begin=req14 /><noinclude></noinclude>Do the following:
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:<b>a. <section begin=req14a /><noinclude></noinclude>Write and endorse a check
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:<b>b. <section begin=req14b /><noinclude></noinclude>Write a receipt
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:<b>c. <section begin=req14c /><noinclude></noinclude>Pay for tickets and/or an invoice at an ATM
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:<b>d. <section begin=req14d /><noinclude></noinclude>Store payment receipts
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:<b>e. <section begin=req14e /><noinclude></noinclude>Interpret a checking/savings account statement
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<section end=challenge />

<b>15. <section begin=req15 /><noinclude></noinclude>Keep a personal budget and a log of money coming in and out for six months.
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<b>16. <section begin=req16 /><noinclude></noinclude>Make a family budget and keep an accurate record of inputs and outputs for six months (Pathfinders and youths can do this together with parents); those who live on farms can make records of farming, dairy and livestock.
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<b>17. <section begin=req17 /><noinclude></noinclude>Read Malachi 3:8-12 and write a minimum of 250 words about the meaning of being a faithful steward.
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AY Honors/Household Budgeting (SAD)/Requirements/en - Revision history

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