Balancing your checkbook is key to keeping your finances in order. But what happens when you spend too much and find yourself deep in debt? The money has to come from somewhere to fix the problem.

For South Carolina, that means taking it from the savings, or reserve fund.

"This is a good sign, and it's a hope for better things to come," says Dan Harvell with the Anderson County Taxpayer's Association.

Governor Mark Sanford signed the Fiscal Discipline Act of 2004 on Monday, in Greenville.

"We just look forward to more efficient government and this is a good step," says Harvell.

It caps government growth at three percent until their fiscal house is back in order.

"It's paying for existing promises on the table before you go out and create new ones," says Governor Mark Sanford.

And that's good news for taxpayers.

"Because it will help them manage their own budgets better. They won't be paying as much in taxes," says Jim Keasler with the Greenville County Taxpayer's Association.

The government began spending too much, about two years ago.

"I don't think it's something that would happen again, certainly during this administration," says Sanford.

If it does, the bill is expected to set a precedent on how to balance things, to get back on track.

The bill also lets South Carolina keep its triple-A credit rating. That's a good thing because a lower rating could mean higher taxes.

South Carolina currently has a $155 million deficit. The General Assembly already appropriated $89 million in this year's budget. The bill authorizes $50 million from the General Reserve Fund. The remaining $16 million will come from the Capital Reserve Fund.