Disposable vs. Discretionary Income
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7 Terms
1
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Disposable income
The amount of money that an individual or household has to spend or save after income taxes have been deducted
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Discretionary income
The portion of your income remaining after paying for essential expenses, such as rent, utilities, food, transportation, and taxes
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Residual income (what’s left over after fulfilling your obligations)
Discretionary income
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Non-essential spending
Discretionary income
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A key factor in determining how much of a student loan payment is required under certain repayment plants
Discretionary income
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High availability
Disposable income
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High financial flexibility
Disposable income
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