fiscal-discipline

Vocabulary Word

Definition

'Fiscal-discipline' is about being smart with money. For a country, it implies carefully planning and controlling government spending, not going over budget, and putting some funds aside for emergencies.

Examples in Different Contexts

In personal finance, 'fiscal discipline' means managing one's budget and spending wisely to avoid debt and save for the future. A financial planner might suggest, 'Practicing fiscal discipline is crucial for achieving your financial goals and securing your financial future.'

Practice Scenarios

Public-Policy

Scenario:

We need to address the looming financial crisis. It's critical we prioritize fiscal responsibility.

Response:

Agree. A robust fiscal discipline policy will help us navigate the anticipated financial crisis better.

Government

Scenario:

The spending on infrastructure might need revisiting. Let's ensure we don't pressurize the national coffers.

Response:

Indeed, fiscal discipline guarantees sustainable public spending and preserves our national reserves.