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Discretionary expenses are non-essential costs that individuals can choose to spend or not spend based on their preferences. Two examples include dining out at restaurants and purchasing luxury items like designer clothing or gadgets. These expenses are typically adjustable and can vary depending on personal financial situations and priorities.
What else can I help you with?
What are 2 non-discretionary expenses?
transportation costs entertainment
How do you calculate discretionary income?
Discretionary income is calculated by subtracting necessary expenses from gross income. First, determine your gross income, which includes all earnings before taxes and deductions. Then, identify and sum up necessary expenses, such as housing, utilities, food, and transportation. Finally, subtract the total necessary expenses from your gross income to find your discretionary income, which represents the amount available for non-essential spending or savings.
What is a discretionary income?
the amount of money available in a budget after all identified expenses has been paid
What is the money left over after paying your necessary expenses called?
Discretionary Income Discretionary income = Gross income - taxes - all compelled payments (bills) Reference: http://en.wikipedia.org/wiki/Disposable_and_discretionary_income
What is the difference between discretionary and controllable cost?
Discretionary cost is that amount which is at somebody's discretion like manager etc. Controllable cost is that amount which is in the hands of management to be controlled or not like advertisement expenses etc.
What are 2 non-discretionary expenses?
transportation costs entertainment
What are discretionary appropriations?
discretionary expenses means in short word expenses on self wants or needs in company or home.
What are some examples of flexible expenses?
Flexible expenses are costs that can be adjusted or varied based on individual choices and circumstances. Examples include entertainment expenses such as dining out, subscription services, and travel costs. Other examples are discretionary spending on clothing, hobbies, and personal care. Unlike fixed expenses, these costs can be reduced or eliminated if necessary to manage a budget.
How is discretionary income calculated?
Discretionary income is calculated by taking your gross income minus your expenses and what you are left with is discretionary income. Most Americans do not have a large amount of discretionary income.
What are non discretionary expenses?
transportation costs entertainment
What is management Discretionary expenses techniques artificial or real?
both
When budgeting for your immediate needs you should divide them into immediate and discretionary expenses.?
When budgeting for your immediate needs, you should divide them intoA.immediate and discretionary expenses.B.fixed and immediate expenses.C.discretionary and fixed expenses.D.fixed and intermittent expenses.
What is the term for Money left to spend after necessary expenses are paid?
Discretionary Income
What are the four types of expenses?
The four types of expenses typically include fixed expenses, variable expenses, discretionary expenses, and periodic expenses. Fixed expenses remain constant over time, such as rent or mortgage payments. Variable expenses fluctuate based on consumption or usage, like utility bills or groceries. Discretionary expenses are non-essential spending, such as entertainment or dining out, while periodic expenses are irregular but predictable costs, such as insurance premiums or car maintenance.
Example of discretionary spending?
There are a great many examples in the world of discretionary spending. Discretionary spending can be as simple as choosing whether you want to spend your money on ice cream.
What might Expenses may be categorized as?
Expenses may be categorized into several types, including fixed expenses, which remain constant over time (like rent), and variable expenses, which fluctuate based on consumption (like utilities). They can also be classified as discretionary expenses, which are non-essential (like entertainment), and non-discretionary expenses, which are necessary (like groceries). Additionally, expenses can be categorized by their purpose, such as operating expenses related to daily business functions or capital expenses for long-term investments.
How do you calculate discretionary income?
Discretionary income is calculated by subtracting necessary expenses from gross income. First, determine your gross income, which includes all earnings before taxes and deductions. Then, identify and sum up necessary expenses, such as housing, utilities, food, and transportation. Finally, subtract the total necessary expenses from your gross income to find your discretionary income, which represents the amount available for non-essential spending or savings.
