How much money do you have to spend on your boy scout troop budget? Knowing how much you need will help you make better decisions. The two main categories of money you’ll need are, your monthly expense and your annual expenses.
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Your monthly expense is your costs that are recurring. Your food expenses, transportation, daily and emergency expenses, that kind of thing. The next category is your yearly expenses. These are things like scouting equipment, camping supplies, and other miscellaneous costs.
On a per month basis, your monthly expense is your monthly rate. The way to look at this is you get paid for an entire year at one time. The better the merit badge, the lower the cost per hour. The top rates are usually tied into the merit badges, so it makes sense to buy the top merit badges and get the best rates.
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Your annual expense is per year. As with the monthly expense, there are some specific areas where you can choose to specialize. If you’re a past president and you have multiple leaders, you can set up a list of people who want to work with you. These are costs that aren’t tied to merit badges, but some do go into the merit badges as well. Just be sure to have this in mind when you are putting together your worksheet.
In terms of your money coming in, you’ll also have to determine what is your out of pocket cost. This will include things like buying food, gas, the materials, etc.
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When you work on your boy scout troop budget worksheet, you will have to look at all of your needs and make a list of the needs that should be done. Then put them on the list of what you know you need to purchase. Once you’ve done that, figure out how much money you need to pay each month and what you plan to spend per year. When you know your annual expenses, it will be easier to see what you’ll need to pay each month to stay afloat.
Once you’ve figured out the cash flow, you need to think about your personal spending. Look at the things you really enjoy. Once you know where your money is going, you can create a budget that is more realistic and affordable. When you find out where your money is going, you can cut back or change things that you really enjoy to things that are more budget friendly.
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So, knowing where your money is going and how much you need to spend on your scouting troop budget, will help you in creating a budget that works for you. Keep in mind, if you have a lot of fundraising, you should not spend more than 50% of your budget on your yearly expenses. That’s how much you should spend on the fees that are required of the volunteer organizations.
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