What exactly does it mean to be fiscally responsible? It's a complicated topic with a complicated response, but at its heart lies a basic truth: To be financially responsible, you must live within your means. And, in order to live within your means, you must spend less money than you earn.

As we become older and take on the duty of managing a household's finances, we understand how important it is to properly balance a budget while keeping long-term goals in mind. However, most people find it more difficult than imagined to achieve economic responsibility, and many people lack the information necessary to make sound judgments.