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  1. 1. Fiscal Responsibility By: Shannon Joiner
  2. 2. The Question... <ul><li>What are the components of fiscal policy? </li></ul><ul><ul><li>Explain the components in-depth. </li></ul></ul>
  3. 3. Fiscal Responsibility <ul><li>3 Basic Components: </li></ul><ul><ul><li>Wisely managing resources </li></ul></ul><ul><ul><li>Preparing for the future </li></ul></ul><ul><ul><li>Avoiding debt </li></ul></ul>
  4. 4. Wisely Managing Resources <ul><li>Be watchful and avoid waste </li></ul><ul><ul><li>Create appropriate policies </li></ul></ul><ul><ul><li>Avoid confusion </li></ul></ul><ul><li>Assess needs and assign priorities </li></ul><ul><ul><li>Realistic </li></ul></ul>
  5. 5. Preparing for the Future <ul><li>Like the Boy Scouts - “be prepared” </li></ul><ul><ul><li>Helps us avoid problems instead of trying to fix them as they come along </li></ul></ul><ul><li>Realism in planning </li></ul><ul><ul><li>Emergency planning </li></ul></ul>
  6. 6. Avoiding Debt <ul><li>Investing vs. Spending </li></ul><ul><ul><li>Investing: maintaining physical assets </li></ul></ul><ul><ul><li>Spending: short-term solution </li></ul></ul><ul><li>Preventing deficit spending </li></ul><ul><ul><li>The amount by which a government, private company, or individual's spending exceeds income over a particular period of time </li></ul></ul>
  7. 7. Summing it up... <ul><li>Fiscal responsibility=taking care of your money </li></ul><ul><ul><li>Manage your resources wisely </li></ul></ul><ul><ul><li>Prepare for tomorrow </li></ul></ul><ul><ul><li>Try not to spend more than you make </li></ul></ul><ul><li>Decisions made today impact the future </li></ul><ul><ul><li>Not just one person’s future, but many </li></ul></ul><ul><li>Someone who did not manage his money wisely </li></ul><ul><ul><li>http://www. youtube .com/watch? v=CK3nI8WwSK4 </li></ul></ul>
  8. 8. Sources <ul><li>John Smith’s PowerPoint </li></ul><ul><li> </li></ul><ul><li> </li></ul><ul><li> </li></ul><ul><li> </li></ul>