What Is The Difference Between Discretionary And Non Discretionary Expenses?

What does discretionary mean on a bill?

discretionary service chargeA discretionary service charge is an amount that is added to your bill in a restaurant to pay for the work of the person who comes and serves you.

You can decide if you want to pay it.

The food prices do not include the discretionary service charge, which customers can choose to pay..

What is discretionary income answers?

Discretionary income is money that is left over after paying your taxes and other living expenses (rent, mortgage, food, heat, electric, clothing, etc). Discretionary income is based and derived on your disposable income.

What are non discretionary funds?

Non-Discretionary Expenses isn’t What You Cutback to Make a Good Budget Plan. Financial health is the state of one’s personal financial situation. … Non-discretionary spending is spending that is required by a budget, contract, or other commitment.

What does discretionary mean?

adjective. subject or left to one’s own discretion. for any use or purpose one chooses; not earmarked for a particular purpose: discretionary income; a discretionary fund.

What is an example of discretionary government spending?

In American public finance, discretionary spending is government spending implemented through an appropriations bill. … Some examples of areas funded by discretionary spending are national defense, foreign aid, education and transportation.

What is non discretionary project?

Re: non-discretionary project I was also exlained later on by a native English speaker here that “a non-discretionary” project is opposed to a project that can be implemented in alternative ways, say, the financing schedule can be changed, or the scope of works etc.

What is the difference between discretionary and nondiscretionary spending?

These categories can be further broken down into nondiscretionary expenses, which are things you can’t do without, such as food and rent, and discretionary expenses, which you can do without (vacations and entertainment).

What are non discretionary items?

Non-Discretionary Items means all real estate taxes, insurance premiums and utilities relating to the Property.

What is another word for discretionary income?

What is another word for discretionary spending?disposable incomediscretionary incomedisposable personal incomediscretionary expenses

What are considered discretionary items?

Discretionary income is the amount of an individual’s income that is left for spending, investing, or saving after paying taxes and paying for personal necessities, such as food, shelter, and clothing. Discretionary income includes money spent on luxury items, vacations, and nonessential goods and services.

What does non discretionary mean?

: not left to discretion or exercised at one’s own discretion : not discretionary nondiscretionary purchases such as food and housing During the first half of the 1990s, Americans were forced to spend more for certain nondiscretionary items …—

What is another word for discretionary?

In this page you can discover 14 synonyms, antonyms, idiomatic expressions, and related words for discretionary, like: optional, left to discretion, discretional, changeable, arbitrary, judgmental, personal, elective, facultative, opinion and surprise.

Does discretionary mean optional?

The difference between Discretionary and Optional When used as adjectives, discretionary means available at one’s discretion, whereas optional means not compulsory.

What are non essential expenses called?

Discretionary expenses. The amount of an individual’s income that is left for spending, investing or saving after taxes and personal necessities (such as food, shelter, and clothing) have been paid. Include luxury items, vacations and non-essential goods and services.

What are the 4 types of expenses?

You might think expenses are expenses. If the money’s going out, it’s an expense. But here at Fiscal Fitness, we like to think of your expenses in four distinct ways: fixed, recurring, non-recurring, and whammies (the worst kind of expense, by far).

What is a good discretionary income?

Many experts say your necessities—rent or mortgage payment, food, taxes—should account for only 50 percent of your budget, while discretionary spending should account for 30 percent or less. The remaining 20 percent should be used for other financial goals, such as paying off debt, saving, or investing.

What is an example of a non discretionary expense?

Understanding Discretionary Expenses While non-discretionary expenses are considered mandatory—housing, taxes, debt, groceries—discretionary expenses are any costs incurred above and beyond what is deemed necessary.