What's leftover money called?

Very simply, disposable income is money you have after taking out/paying your taxes. Discretionary income is money left over after paying your taxes and other living expenses (rent, mortgage, food, heat, electric, clothing, etc.).

What do you call leftover money?

Disposable income, in other words, is a person's take-home pay used to meet both essential and nonessential expenses. This income is what is left over after taxes and it is the amount of net income available to spend, save, or invest.

What is my disposable income?

Key Takeaways

Disposable income is the money you have left from your income after you pay federal, state, and local taxes and any other mandatory payments to a government. Disposable income can be calculated as personal income minus personal current taxes.

What can I do with leftover money?

What is an example of disposable income?

Your disposable income is the money you have to pay necessary bills like rent or mortgage, utilities, insurance, car payment, food, clothing, credit card bills and more.

EveryDollar Tutorial: What Do I Do With Leftover Money?

What is your discretionary income?

Discretionary income is the amount of money you have left over after paying for necessary expenses, and it's used to calculate student loan payments on several federal repayment plans.

What does surplus money mean?

Surplus funds means, at any given date, the excess of cash and other recognized assets that are expected to be resolved into cash or its equivalent in the natural course of events and with a reasonable certainty, over the liabilities and necessary reserves at the same date.

What happens unused budget?

When the national budget expires, unused funds are reverted back to the National Treasury.

What is disposable cash?

Disposable income, also known as disposable personal income (DPI), is the amount of money that an individual or household has to spend or save after income taxes have been deducted.

What is a good amount of money to have leftover after bills?

How much money should you have left after paying bills? This theory will vary from person to person, but a good rule of thumb is to follow the 50/20/30 formula; 50% of your money to expenses, 30% into debt payoff, and 20% into savings.

What is meant by dissaving?

Dissaving is the opposite of saving. It means to spend above one's income by dipping into savings, buying on credit, or borrowing money. Governments can be dissavers, too.

What is a remaining budget?

Remaining Budget . The Approved Contract Task Budget Amount less Total Billed to Date Amount.

What does it mean to obligate funds?

Obligating funds to an Activity means to commit funds to an Activity in accordance with programmatic requirements for a grant appropriation. Once obligated, funds are then available for drawdown, that is, disbursement of the funds.

What are continuing appropriations?

Continuing appropriations refer to appropriations available to support obligations for a specified purpose or project, such as multi-year construction projects which require the incurrence of obligations even beyond the budget year.

What are synonyms for surplus?

In this page you can discover 47 synonyms, antonyms, idiomatic expressions, and related words for surplus, like: leftover, surplusage, remainder, extra, overabundance, overplus, residue, reserve, spare, overstock and over.

What is another term for surplus in economics?

Synonyms: Excess, extra amounts and things added. addition. spare.

What is surplus and deficit?

Surplus: the amount by which your income is greater than your spending. Deficit: the amount by which your spending is greater than your income.

What are discretionary funds?

discretionary fund. noun [ C ] FINANCE. an amount of money that is available to spend on things that are not considered necessary but that may be useful: Governors of some states are given discretionary funds to spend on small-scale projects.

What should you do with the money left over after all monthly expenses are paid?

Start an Emergency Fund

The first thing you should do with any money remaining from your monthly expenses is put a portion of cash in your savings account. If you already have a healthy savings account, you may want to get a second account that is specifically an emergency fund.

What is the difference between disposable and discretionary income?

For instance, your disposable income is the amount of money you have left over after you've paid all of your federal, state and local taxes. On the other hand, your discretionary income is the money you have left over after you've paid your taxes plus all of your necessary living expenses.

Is disposability a word?

Disposability definition

(rare) The property of being disposable.

How do you use disposable income in a sentence?

Disposable income sentence example

This could result in a significant increase in your disposable income each month. At the end of the 1970s the richest tenth of the population received 21% of disposable income . People have more disposable income and therefore will put more of that money back into the market.

What is disposable income quizlet?

Disposable income. The money you have left to spend or save after taxes have been paid. Financial plan. a set of goals for spending, saving, and investing the money you earn.

What does encumbrance balance mean?

Overview. Encumbrances and open balances represent expenses that are anticipated to be charged to a budget or, in some cases, restricted funds. You may view a budget's total amount of encumbrances in Grant Tracker.