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Author Topic: Disposable Income, is there such a thing?  (Read 1356 times)

Offline Stainford

Is there such a thing as disposable income. You get paid, take care of the bills etc but isn't there always something that pops up out of nowhere, e.g car repair, new school uniform for the kids as they ruined the first one. It is a terrible thought of spending "spare cash" on punting only for something annoying to turn up and even more of a headache explaining it to the misuss. For me this time its an unexpected trip to the dental hygienist which will set me back.
Banning reason: Previously banned (aka Pdubz / hardnpulsing / mckintosh / Anthony / captainavenger / docbydaypunterbynight / Warrior / Stainford)

Spending on luxuries are classed as disposable in my eyes !

Offline RedKettle

yes - but as well as paying bills etc you put something into savings.  After that you have disposable income and any unexpected costs can be met from savings.

Offline 385North

Of course there is such a thing. It's one of the key economic indicators used to gauge the overall state of the economy. It all comes down to your personal financial liabilities and commitments and what's left once all the bills have been paid. I personally have no wife and kids, no loans or outstanding finance on big ticket items like cars, etc., so my disposable income is around 60% of what I earn overall. However I do live in London, so according to those who dabble with statistics my disposable is likely to be higher then elsewhere in the country.

I'm usually careful with my expenditure and save around 40% of what I earn each month, but that's only because when I was younger and getting paid fuck all, I lived life in the red from one month to the next, literally saving maybe £20 a month to slowly pay-off a £2,000 overdraft. And as you say, it only takes something out of the blue like a massive dental bill for root canal treatment, or something, to set you back again after month's of saving. My situation was only improved when I was made redundant, received a large payout and was lucky enough to find another job within a few days. Since then I found that managing money, expenses and creating budgets can actually be quite good fun.

Offline Stainford

I too enjoy managing money and savings and fairly good at it. When something unexpected comes around like this, punting has to be put on hold. I don't like it but I never let my dick do the talking like I used to do.
Banning reason: Previously banned (aka Pdubz / hardnpulsing / mckintosh / Anthony / captainavenger / docbydaypunterbynight / Warrior / Stainford)

Yes there is such a thing as disposable income. However, one man's disposable income is another's rainy day fund or savings.

DI is subjective because we all have different levels of savings/other assets that we think are 'safe' or sensible. If you speak to an independant financial advisor, they will say you should retain 3-6 months living costs in an instant access account. We are also told a high percentage of UK households are only 2-3 months away from a mortgage foreclosure. Thus the subjectivity.

It's an individual judgement call, somewhat simplified for those without close family/dependants and somewhat assisted for some, by regional wage and opportunity variations, such as those in London vs Northern England.

Offline carefree

I have disposable income but it wasn't always the case.

Me and the wife each have a few quid every month and combined with the odd tenner here and there syphoned off I have a lovely little private pot of money for what I call my slut fund :yahoo:
Banning reason: Troll

Offline unclepokey

Income in excess of the cost of one's normal day to day necessary needs can be termed 'disposable income'

Interestingly too, gifts made out of income in excess of meeting one's normal day to day necessary needs are not 'added back' in computing the value of your estate for inheritance tax purposes. (This, by the way, is the least known IHT mitigation element in the calculation of estate value).
Expenditure of a regular nature such as a weekly shag at Susi's during the last seven years would never be added back in a calculation of the value of an estate. That would be normal regular expenditure. For a start it wouldn't be a gift.

So as a tax practitioner just how glad it is to me to observe that, in terms of capital taxes, shagging is  Kinda tax-efficient.
Uncle Pokey

Offline smiths

Is there such a thing as disposable income. You get paid, take care of the bills etc but isn't there always something that pops up out of nowhere, e.g car repair, new school uniform for the kids as they ruined the first one. It is a terrible thought of spending "spare cash" on punting only for something annoying to turn up and even more of a headache explaining it to the misuss. For me this time its an unexpected trip to the dental hygienist which will set me back.

Depends on what you earn compared to your fixed outgoings of course and if smart have a reserve fund for the unexpected, if a punter cant afford to do that without using money to punt from one or both of the above my advice is be very careful not to get into debt, just for a punt.

So yes there is such a thing as disposable income where a person can choose what to spend their money on and it wont leave them short.

Offline comaminion

It's all disposable , just depends where you spend it
Banning reason: White-knighting

Offline JEH7376

If it isn't disposable income that I am spending on all these girls, I have no idea what it is....

Income in excess of the cost of one's normal day to day necessary needs can be termed 'disposable income'

Interestingly too, gifts made out of income in excess of meeting one's normal day to day necessary needs are not 'added back' in computing the value of your estate for inheritance tax purposes. (This, by the way, is the least known IHT mitigation element in the calculation of estate value).
Expenditure of a regular nature such as a weekly shag at Susi's during the last seven years would never be added back in a calculation of the value of an estate. That would be normal regular expenditure. For a start it wouldn't be a gift.

So as a tax practitioner just how glad it is to me to observe that, in terms of capital taxes, shagging is  Kinda tax-efficient.
Uncle Pokey

Not quite right...

Yes you can make gifts and they are excluded from your estate. But. There's always a but isn't there. Maximum values are imposed on those gifts and you have to live at least 7 years after you make the gifts for them to be excluded from your estate.

As paid shagging is not on the officially agreed HMRC gift list and they are not gifts, but payment for services, reference to inheritance tax/your estate isn't relevant.

So, it's a nice thought paid shagging is tax efficient, but sadly not so. Shame.

jcdmj12

I budget for seeing prossies in the same way I budget for housing costs, food, savings etc, so I can spend out of my hooker fund without feeling guilty about it. It's nice, sometime I get too busy to punt so it builds up over a month or so and I can have a week of depravity. :D

There are other areas where I don't spent much money (cars, clothes etc), because experiences are more important to me than things. A choice between a £150 shirt with a fancy label (but still made in China), or a £40 one plus an hour with an accommodating young Polish lady is a no brainer for me,
« Last Edit: September 19, 2015, 09:08:07 PM by jcdmj12 »

I budget for seeing prossies in the same way I budget for housing costs, food, savings etc, so I can spend out of my hooker fund without feeling guilty about it. It's nice, sometime I get too busy to punt so it builds up over a month or so and I can have a week of depravity. :D

There are other areas where I don't spent much money (cars, clothes etc), because experiences are more important to me than things. A choice between a £150 shirt with a fancy label (but still made in China), or a £40 one plus an hour with an accommodating young Polish lady is a no brainer for me,
Thus it is an essential item and not disposable income !

Offline fredpunter

I budget for seeing prossies in the same way I budget for housing costs, food, savings etc, so I can spend out of my hooker fund without feeling guilty about it. It's nice, sometime I get too busy to punt so it builds up over a month or so and I can have a week of depravity. :D

There are other areas where I don't spent much money (cars, clothes etc), because experiences are more important to me than things. A choice between a £150 shirt with a fancy label (but still made in China), or a £40 one plus an hour with an accommodating young Polish lady is a no brainer for me,

40 quid for a shirt! You can get about 6 for that in m&s ... but I do share your philosophy .... possessions are just hassle ... if only my Mrs and kids would agree ...

Ps yes there's such a thing as disposable income .... I am fortunate enough to have loads of it .... but as I was virtually destitute till my mid twenties I just never got used to spending a lot or acquiring stuff I don't really need.
« Last Edit: September 19, 2015, 09:25:12 PM by fredpunter »

Offline maxxblue

Thus it is an essential item and not disposable income !

Not sure that I agree that punting is an essential item. If you don't pay your mortgage/council tax/bills etc, you risk having essential services cut off, whereas if you don't punt, you may be disappointed, but that is about it.

Offline smiths

Not sure that I agree that punting is an essential item. If you don't pay your mortgage/council tax/bills etc, you risk having essential services cut off, whereas if you don't punt, you may be disappointed, but that is about it.

And if you don't pay your council tax you COULD be sent to prison ultimately, same with TV licence of course. For me punting is a pastime like Golf, its not essential but its damn good fun in the main.

Offline smiths

I budget for seeing prossies in the same way I budget for housing costs, food, savings etc, so I can spend out of my hooker fund without feeling guilty about it. It's nice, sometime I get too busy to punt so it builds up over a month or so and I can have a week of depravity. :D

There are other areas where I don't spent much money (cars, clothes etc), because experiences are more important to me than things. A choice between a £150 shirt with a fancy label (but still made in China), or a £40 one plus an hour with an accommodating young Polish lady is a no brainer for me,

Interesting point where you say for you experiences are more important than things, I want both but on principle i want VFM as i see it for most things so £150 for a shirt is something i wouldn't pay, i wouldn't pay £40 either, or £20.

Hawkwind71

It's all disposable , just depends where you spend it

Im disposing it so the kids dont have to fight over an inheritance. Working well so far.

Interesting point where you say for you experiences are more important than things, I want both but on principle i want VFM as i see it for most things so £150 for a shirt is something i wouldn't pay, i wouldn't pay £40 either, or £20.
The best experiences in life outside punting are often free.  I'm with you on the shirts though.  Shoes I like to push the boat on.

.....my slut fund :yahoo:

I've just renamed my punting fund! My slut fund. Love it!!

tcm

Offline NIK

Is there such a thing as disposable income. You get paid, take care of the bills etc but isn't there always something that pops up out of nowhere, e.g car repair, new school uniform for the kids as they ruined the first one. It is a terrible thought of spending "spare cash" on punting only for something annoying to turn up and even more of a headache explaining it to the misuss. For me this time its an unexpected trip to the dental hygienist which will set me back.

Totally agree. Just when you think you've got things covered there is ALWAYS something else that pops up to set you back. Especially when you run a bloody car.  :angry:

Especially when you run a bloody car.  :angry:

Tell me about it. I punted whilst my car was being looked at the other week. The punt was completely shit and when I got back to the garage they told me the car needed repairs to the tune of several thousand pounds. I was not a happy bunny.

tcm

Offline Topgun

I always make sure I have minimum £5k, and hover around the £6k mark after all bills are paid. That way when I need to make an emergency purchase then i have no worries.
Plus there are loans could use for emergencies but I haven't had one for 12 years now, total money-sinks even at the cheapest rates possible.

£14/hour, 40hour week, live by myself, no kids, £420 mortgage, 10 year old hatchback car... I could easily afford much better if it wasn't for seeing escorts.
Banning reason: Troll

Offline purple_t

I see where you're coming from OP but if you never spend any money on yourself for fear of something important yet unexpected occurring, you're not going to live a very fun life. My view is that I could be dead within a year, you never know what tomorrow could bring. So I try and enjoy myself without acting too impulsively or irresponsibly.


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