Fixed expenses are fixed - A list of monthly expenses that cannot be cancelled will provide the framework for the household budget.

One of the most obvious financial management principles known to man is that the outgoing funds should not exceed the income. Convenient sources of credit have created a culture of borrowers that is risky in the current economic environment. David Mark Bunzel encourages every household to save as much as possible in case the situation changes for the worse. Certain actions taken now will prevent panic later.