You can easily become fiscally responsible, if you know exactly what and how to do that.

This article has the best “what and how” to help you really become responsible fiscally – as many as 20 powerful ways and tips to help you.



From the driver’s side of my vehicle, I watched a man exit from a fast food restaurant and walk towards the entranceway of the eatery.

He was carrying an extra-large beverage cup which I assumed was coffee.

First, this company has paid $25+ million to members:

SurveyJunkie (only USA, Canada, Australia residents allowed). You can earn money sharing your thoughts. They have already paid $25+ million to their 20+ million members just for sharing their thoughts and opinions. Click here to join SurveyJunkie for FREE

Walking back to his office with his cup of caffeine for the day I thought.

Sort of daydreaming in and out, I continued to watch him where he met up with another man and he handed the coffee to him.

Suddenly the benign scene took on a new meaning and my heart was warmed and not from the coffee.

This man just showed responsibility…social responsibility in caring for another.

Responsibility or being responsible is both a combination of actions and attitude.

The man’s attitude was to help out another and his actions matched his mindset.

There are many areas of responsibility that as adults we are called upon to fulfill.

Some of those responsible roles include parenting, civic, marital, and more.

There are certain expectations in these roles, and they need to be met…actions driven by attitude.

Another area of responsibility is when it comes to our finances.


What is Being Fiscally Responsible? 

Responsibility means that the individual is in a position to do the right thing given their level of knowledge, experience, education, and personal moral compass.

Fiscal is used to define finances or the handling of money.

Combining the two together, being fiscally responsible is defined as the individual utilizing their financial resources in a positive manner that serves others as well as caring for their own personal financial needs and commitments.


20 Best Ways & Tips for Becoming Fiscally Responsible


1. Education

One of the most impactful ways that an individual can learn about fiscal responsibility or build on their current level of money management is through education.

This education can be gained through the reading of books as penned by various authors.

These authors can come with scholastic backgrounds, or have techniques and thinking that have been proven experientially in their own lives.

The other powerful way that an individual can educate themselves as it relates to being fiscally responsible is through life’s experiences or trial and error.

Often this latter method is the most powerful and productive.


2. Budget

The first foundational action that an individual can take towards fiscal responsibility is comprising a budget.

This budget will serve as a tool or a framework in which the income and expenses of the household are identified.

Knowing the income and expenses help to maintain financial boundaries and reflect the plan of income and expense action.

A budget can be compared to a road map that outlines the various “legs” of the journey to allow for arrival at one’s destination.


3. Stay In Your Lane 

Being fiscally responsible means that the burden or success of your finances lies squarely upon your shoulders.

There is no one looking over your shoulder and saying you can’t do this or you can do that.

Therefore, with the budget in hand and traveling along following that roadmap, it is important to stay in your lane.

This means that a budget can be likened to lanes on the highway and in order to be successful you need to stay in your lane.

There should be no, or at least minimized, overspending or moving outside of the lanes or overspending.


4. Emergency Fund 

Another critical component towards being fiscally responsible is the anticipation of detours or obstacles in our budgetary lives.

Life happens and there are unanticipated events that can negatively impact our finances.

Some of these impactful circumstances could include the loss of a job, illness in the family, major repairs needed in the household, etc.

Being fiscally responsible means that even though you don’t know how or what will be happening, you prepare for the worst, and in preparation for the worst you set aside an emergency fund.

This emergency fund should be an accumulation of money equal to 3 to 6 months of income.


5. Think about Tomorrow 

Being fiscally responsible means that the individual doesn’t just live in the moment.

Being responsible means that their thinking, as it relates to money, it is also thinking about tomorrow or the future.

Therefore, an individual who is fiscally responsible is planning for their tomorrow by contributing to investment vehicles that will secure their today and tomorrow.


6. Pay Your Bills 

Being fiscally responsible means that you have sufficient money to meet your obligations as it relates to your expenses.

If an individual buys an item through extended credit they must realize that the payment for that item bought now will need to be paid somewhere in the near future.

An individual who manages their money well does the right thing in paying their financial obligations for services received whether it be a utility bill, rent, cellular phone service, etc.

Fiscally responsible individuals have the financial integrity to pay their obligations and in a timely manner.


7. Credit Report 

A credit report is a report card of sorts that evaluates an individual’s credit history.

On the credit report is listed your entire credit history.

Listed are the payments made on mortgages, credit cards, revolving charge cards, etc.

It is a comprehensive listing of an individual’s interaction with credit.

A responsible individual wants to know their credit history, good or bad and utilizes it as a tool to understand any possible shortcomings.

A fiscally responsible individual does not ignore their credit actions but takes full responsibility, ownership, and utilizes this report as a tool to improve.


8. Insurance 

Another aspect of anticipating the roadblocks of life is through insurance,

A fiscally responsible individual will have insurance policies in place to protect those that they love and are committed to caring for.

Examples of insurance policies taken out by a fiscally responsible individual include life insurance, long-term care insurance, accidental death and dismemberment insurance, etc.

A fiscally responsible individual prepares for the “what ifs” of life.


9. Who’s In Control 

A fiscally responsible individual has answered the question, as it relates to their money, as to “who is in charge”?

Questions swirl around whether you are in charge of your money or is your money in charge of you?

An individual in control of their finances does not indulge in spontaneous or compulsive spending.

They do not allow their impulsive spending to decide on purchasing the latest craving or new technology device.

A fiscally responsible individual sets the time of any needed purchases as it relates to their budget, money in the bank, and whether that item is needed now, or can be deferred, or not purchased at all.


10. Stay Out of Debt 

As it relates to indebtedness, the fiscally empowered individual realizes that indebtedness is an unenviable financial situation that only benefits the one that money is owed to.

Again, this company has paid $25+ million to members:

SurveyJunkie (only USA, Canada, Australia residents allowed). You can earn money sharing your thoughts. They have already paid $25+ million to their 20+ million members just for sharing their thoughts and opinions. Click here to join SurveyJunkie for FREE

Indebtedness not only robs an individual of their money through high-interest rates but also robs an individual of their peace of mind and financial security.

Indebtedness can be a drain on an individual’s health and can cause unhealthy stress that can cause unintended medical issues for that person.


11. Honor Your Money 

The individual who is responsible and levelheaded understands that money is more than just a number, or an amount as represented in your various financial accounts.

Money has an energy that is earned by you in exchange for your life’s energy.

You work hard for that money, and you give of yourself which includes your time, energy, experience, education, etc.

Therefore, just as you honor yourself and your hard work for the wages that you bring into your life, so should you honor your money as it relates to spending or using that money for your various needs.


12. Employment 

There is something therapeutic and meaningful about working and receiving a salary for your hard work.

Certainly, there are times where we may need to rely on others financially to meet our financial obligations.

However, as human beings we are wired, as well as in our society, to be employed, and to earn a living.

As a fiscally responsible individual, you want to be responsible for your own earnings and wages.

A responsible individual takes responsibility.


13. Taxes 

Taking your monetary responsibilities seriously also includes paying taxes.

This area of financial responsibility is critical as it relates to being a good citizen and a contributing member of society.

In the same vein it is also important to remember that there are credits and deductions that can legally be claimed when filing your personal taxes.

A financially responsible individual not only pays their taxes but legally reduces their taxes as it relates to qualified deductions and credits.


14. Track Spending 

A great tool that can benefit an individual in managing their money is to write down every expenditure that is made.

If an individual uses cash to make their purchases, outside of their regular bills, it is important to capture that transaction by listing the amount, date, vendor, what the item was for, etc.

This discipline will help the individual to manage their money on an even greater scale and help to identify where that mystery cash goes each month.


15. Future 

A fiscally responsible individual spends today and also saves for tomorrow.

Because you have written in your budget a certain percentage of your money being set aside for IRAs, 401(k)s, purchase of stock, investment in CDs, etc., you are spending today with a vision of tomorrow and planning for your future.

It is critical that the financially responsible person set aside a percentage, 20% if possible, of their money for their future.


16. Be Charitable 

Money in the hands of a fiscally responsible individual also expresses concern and care for others.

A wonderful way of expressing the value of money and its impact on people’s lives is through charitable giving.

Being fiscally accountable or responsible is also an opportunity to be generous to others and expand the value of your money beyond your own personal needs.


17. Diversify

Due to your educational study, you realize that finances are sometimes impacted by the events of life both personally and because of events in the world.

This can create uncertainty not only in your life but in your investments.

The key to being responsible or managing these ups and downs is to ensure that your portfolio is diversified.

This means that not all of your money should be in one particular investment vehicle.

Money should be spread out over a broad array of investment accounts that will provide the investment stability needed during these times of fluctuation.


18. Estate Planning 

As part of your responsibility role in managing finances, it is also important to manage your portfolio when you pass your life expectancy.

This is just a nice way of saying that when you die, your estate should be in order.

You should have drawn up a legally binding and notarized will that includes your wishes for the disbursement of your estate, any medical decisions, and who will be managing your estate.

Your reflection of your responsibility in this matter is seen as you have clearly outlined your wishes, and are avoiding any costs associated with probate issues.

This would occur if there was no will and your estate had to go through the court system.


19. Know Your Net Worth

An important reflection of your being fiscally responsible is knowing what your net worth is.

This is not intended to put a monetary price tag on your life or represent your value as an individual with the placement of a dollar sign.

Knowing your net worth is a clear picture of what your total assets and expenses are with the difference being your net worth.

It can serve as an overall picture of financial areas in which you may seemingly be doing well and areas that can be improved upon in order to make your net worth a more positive figure.


20. Rinse and Repeat

Knowing all the above and even doing them is not enough – you should rinse and repeat until they become a part of who you are.

The more you know, do, rinse and repeat, the more fiscally responsible you will be – until it becomes a big part (or even the biggest part) of who you are!


Personal Story

Perhaps as a kid, you were given a couple of dollars by your mom, and she asked you to go to the store and buy a gallon of milk.

Most likely the $2.00 covered the cost and you were given change.

Like a dutiful daughter or son, you came back home, put the milk in the refrigerator, and gave the difference between the $2.00 and the cost of the milk back to your mother.

You demonstrated fiscal responsibility.

You had a set amount of amount, bought the item needed, and didn’t spend the change on anything else.

You stayed within the budget or cost of the item and didn’t buy that candy bar or gum with the leftover money.


Fiscally Responsible FAQs


What would be the most important fiscal responsible action to take?

In essence, fiscal responsibility could be summarized in one phrase.

That phrase would be live within your means.

In other words, don’t spend what you don’t have.


What Are Some Indicators of Not Being Fiscally Responsible?

Some prime examples of an individual who needs to work on being fiscally responsible would include:

  • Living beyond your means
  • You carry high balances on credit cards
  • You don’t care about credit cards with high balances
  • Poor credit
  • Stressed about finances
  • Your sleep and health are being affected because of money issues


You Can Do It

Being fiscally responsible is a process.

It is not a “one and done” situation.

Not only is it a number of processes and actions that define fiscal responsibility, but the overarching value placed on money.

Fiscal responsibility is a dynamic that is well within the realm of goals and achievements that you can accomplish.



Fiscal responsibility begins with an attitude.

It is a mindset that sees the value of money in the light of your hard work and efforts.

Honor your money and your money will honor you.

Be responsible for your money and your money will be responsible for you.

Again, this company has paid $25+ million to members:

SurveyJunkie (only USA, Canada, Australia residents allowed). You can earn money sharing your thoughts. They have already paid $25+ million to their 20+ million members just for sharing their thoughts and opinions. Click here to join SurveyJunkie for FREE

Previous articleHow to Get Paid to Move to France & 10 Best Paying Programs
Next article25 Best Jobs for 9 Year Olds to Make Money
Apart from being a seasoned Personal Finance expert who has written for top publications around the world, I bring significant personal financial experience. Long story short... through bad financial choices... I found myself $100,000 plus in debt. I was able to dissolve this indebtedness and regain financial solvency. This financial turn around was accomplished through reading, studying and implementing a financial plan. My financial plan included paying down my debt through budgeting, being cognizant of where my financial resources were being spent, changing my attitude about money and understanding the binding chains of the improper use of credit. Today, and for 10 years, I have been debt free and have invested wisely to enjoy my current retirement. This is allowing me to write to help others make, save and grow money wisely!