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

Economics

Scenario:

A deeper look at our debt levels is needed. It's always essential to maintain economic health.

Response:

Fiscal discipline could decrease our dependency on foreign loans and improve our self-sufficiency.

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.