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" ,"video": { "@type": "VideoObject", "contentUrl": "https://content.jwplatform.com/videos/oYEDPHGP-G9NhEyAa.mp4", "description": "Disposable income is the money a person has left over after all taxes have been paid. Other deductions that may affect the amount of disposable income are employment deductions for things like health insurance. For most people who receive a paycheck, disposable income is the net amount they receive in their check. Disposable income is an important term in economics because it is a key indicator used to measure the health of the economy. Disposable income is what economists use to monitor how much households are spending and saving. It is from this pool that analysts and economists can understand the ability of consumers to make purchases, pay for living expenses and save for the future. Disposable income is often confused with discretionary income. Discretionary income is disposable income minus living expenses, such as mortgage payments, utility bills, clothing, groceries, transportation expenses, and other bills needed to maintain one’s lifestyle. Discretionary is what people use to pay for vacations, entertainment and other forms of recreation and leisure.Harry earns $100,000 per year. If the tax rate is 35% then Harry’s disposable income is $65,000 ($100,000 - $35,000 in taxes). This $65,000 is the money Harry uses to maintain his lifestyle. Assume Harry’s housing, utilities, food and clothing cost $40,000 a year. Harry’s discretionary income for the year is $25,000 ($65,000 - $40,000). ", "duration": "PT1M47S", "name": "Disposable Income", "thumbnailUrl": "https://cdn.jwplayer.com/v2/media/oYEDPHGP/poster.jpg?width=720", "uploadDate": "2018-11-26T17:29:55.286-05:00"} ,"publisher": { "@type": "Organization", "name": "Investopedia", "url": "https://www.investopedia.com", "logo": { "@type": "ImageObject", "url": "https://www.investopedia.com/thmb/QfBehpNM1l3_gNG-oJMQnjdaJ6c=/260x60/filters:no_upscale():max_bytes(150000):strip_icc()/investopedia-schema-logo-94b9fb2a18b04f4fa6eaad7bf95393e6.png", "width": 260, "height": 60 }, "brand": "Investopedia" , "publishingPrinciples": "https://www.investopedia.com/about-us" , "sameAs" : [ "https://twitter.com/investopedia", "https://www.facebook.com/Investopedia/", "https://www.youtube.com/user/investopediacom", "https://www.linkedin.com/company/investopedia-ulc", "https://www.instagram.com/investopedia/" ] } ,"citation": [ "U.S. Department of Labor. &#34;<a href="https://www.dol.gov/agencies/whd/fact-sheets/30-cppa" data-component="link" data-source="inlineLink" data-type="externalLink" data-ordinal="1">Fact Sheet #30: The Federal Wage Garnishment Law, Consumer Credit Protection Act&#39;s Title III (CCPA)</a>.&#34;", "U.S. Government Accountability Office. &#34;<a href="https://www.gao.gov/products/gao-07-600cg" data-component="link" data-source="inlineLink" data-type="externalLink" data-ordinal="1">Fiscal Stewardship and Defense Transformation</a>.&#34;", "Bureau of Economic Analysis. &#34;<a href="https://www.bea.gov/news/2024/personal-income-and-outlays-april-2024" data-component="link" data-source="inlineLink" data-type="externalLink" data-ordinal="1">Personal Income and Outlays, April 2024</a>.&#34;", "Federal Reserve Bank of St. Louis. &#34;<a href="https://fred.stlouisfed.org/series/DSPIC96" data-component="link" data-source="inlineLink" data-type="externalLink" data-ordinal="1">Real Disposable Personal Income</a>.&#34;", "United States Department of Agriculture. &#34;<a href="https://www.ers.usda.gov/data-products/chart-gallery/gallery/chart-detail/?chartId&#61;76967" data-component="link" data-source="inlineLink" data-type="externalLink" data-ordinal="1">Budget share for total food increased 13 percent in 2022</a>.&#34;", "St. Louis Fed. &#34;<a href="https://fred.stlouisfed.org/series/A229RC0A052NBEA" data-component="link" data-source="inlineLink" data-type="externalLink" data-ordinal="1">Disposable Personal Income Per Capita</a>.&#34;", "Organisation for Economic Co-operation and Development. &#34;<a href="https://www.oecdbetterlifeindex.org/countries/united-states/" data-component="link" data-source="inlineLink" data-type="externalLink" data-ordinal="1">OECD Better Life Index - United States</a>.&#34;" ] ,"mainEntityOfPage": { "@type": ["WebPage"] ,"@id": "https://www.investopedia.com/terms/d/disposableincome.asp" ,"breadcrumb": { "@type": "BreadcrumbList", "itemListElement": [ { "@type": "ListItem", "position": 1, "item": { "@id": "https://www.investopedia.com/budgeting-and-savings-4427755", "name": "Budgeting & Savings" } } , { "@type": "ListItem", "position": 2, "item": { "@id": "https://www.investopedia.com/budgeting-4689726", "name": "Budgeting" } } ] },"reviewedBy": [ {"@type": "Person" ,"name": "Erika Rasure" ,"url": "https://www.investopedia.com/erika-rasure-4800388" } , {"@type": "Person" ,"name": "Ryan Eichler" ,"url": "https://www.investopedia.com/ryan-eichler-5217138" } ] ,"lastReviewed": "2024-06-18T12:15:56.202-04:00"} , "about": [ { "@type": "FAQPage", "mainEntity": [ { "@type": "Question", "name": "How Do You Calculate Disposable Income?", "acceptedAnswer": { "@type": "Answer", "text": "<p>To calculate your disposable income, you will first need to know what your gross income is. For an individual, <a href=\"https://www.investopedia.com/terms/g/grossincome.asp\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"1\">gross income<\/a> is your total pay, which is the amount of money you've earned before taxes and other items are deducted. From your gross income, subtract the income taxes you owe. The amount left represents your disposable income.<\/p>" } } , { "@type": "Question", "name": "Is Disposable Income Net or Gross?", "acceptedAnswer": { "@type": "Answer", "text": "<p>Disposable income is a net amount. It is the amount of money an individual or family has left to spend or save after all taxes are deducted from gross income.<\/p>" } } , { "@type": "Question", "name": "Is Disposable Income Taxable?", "acceptedAnswer": { "@type": "Answer", "text": "<p>Disposable income is, by definition, after-tax income.<\/p>" } } , { "@type": "Question", "name": "What Is the Average Disposable Income in the U.S.?", "acceptedAnswer": { "@type": "Answer", "text": "<p>The disposable income per capita in the United States was $60,276 in 2023.<span class=\"ql-inline-citation\" data-cite=\"6\"><\/span> The average number notably does not reflect the gap between the richest and the rest. The <a href=\"https://www.investopedia.com/terms/o/oecd.asp\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"1\">Organisation for Economic Co-operation and Development (OECD)<\/a> reports that the top 20% of the U.S. population earns almost seven times as much as the bottom 20%.<span class=\"ql-inline-citation\" data-cite=\"5\"><\/span><\/p>" } } , { "@type": "Question", "name": "What Is the Proportion of Saved Disposable Income Called?", "acceptedAnswer": { "@type": "Answer", "text": "<p>The proportion of saved disposable income is known as the <a href=\"https://www.investopedia.com/terms/a/average-propensity-to-save.asp\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"1\">average propensity to save (APS)<\/a>. It is also called the savings ratio.<\/p><p>This refers to the proportion of a population's overall income that is saved rather than spent. 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id="mntl-toc__heading-text_2-0" class="comp mntl-toc__heading-text mntl-text-block">Table of Contents</span> <svg class="icon icon-drawer-arrow " > <use xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="#icon-drawer-arrow" href="#icon-drawer-arrow"></use> </svg></div> <ul id="mntl-toc__list_1-0" class="comp mntl-toc__list mntl-toc__list-heading expert-content"><li id="mntl-toc__list-item_1-0" class="comp mntl-toc__list-item mntl-block"><div id="mntl-toc__list-item-heading_1-0" class="comp mntl-toc__list-item-heading mntl-block"><a href="#toc-what-is-disposable-income" rel="nocaes" id="mntl-toc__list-item-link_1-0" class="mntl-toc__list-item-link mntl-text-link mntl-toc__list-item-link js-mntl-toc-link" data-tracking-container="true" ><span class="link__wrapper">What Is Disposable Income?</span></a></div></li> <li id="mntl-toc__list-item_2-0" class="comp mntl-toc__list-item mntl-block"><div id="mntl-toc__list-item-heading_2-0" class="comp mntl-toc__list-item-heading mntl-block"><a 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id="mntl-toc__list-item-link_4-0" class="mntl-toc__list-item-link mntl-text-link mntl-toc__list-item-link js-mntl-toc-link" data-tracking-container="true" ><span class="link__wrapper">Special Considerations</span></a></div></li> <li id="mntl-toc__list-item_5-0" class="comp mntl-toc__list-item mntl-block"><div id="mntl-toc__list-item-heading_5-0" class="comp mntl-toc__list-item-heading mntl-block"><a href="#toc-how-to-use-disposable-income" rel="nocaes" id="mntl-toc__list-item-link_5-0" class="mntl-toc__list-item-link mntl-text-link mntl-toc__list-item-link js-mntl-toc-link" data-tracking-container="true" ><span class="link__wrapper">How to Use It</span></a></div></li> <li id="mntl-toc__list-item_6-0" class="comp mntl-toc__list-item mntl-block"><div id="mntl-toc__list-item-heading_6-0" class="comp mntl-toc__list-item-heading mntl-block"><a href="#toc-importance-of-disposable-income" rel="nocaes" id="mntl-toc__list-item-link_6-0" class="mntl-toc__list-item-link mntl-text-link mntl-toc__list-item-link js-mntl-toc-link" data-tracking-container="true" ><span class="link__wrapper">Importance</span></a></div></li> <li id="mntl-toc__list-item_7-0" class="comp mntl-toc__list-item mntl-block"><div id="mntl-toc__list-item-heading_7-0" class="comp mntl-toc__list-item-heading mntl-block"><a href="#toc-interpreting-disposable-income" rel="nocaes" id="mntl-toc__list-item-link_7-0" class="mntl-toc__list-item-link mntl-text-link mntl-toc__list-item-link js-mntl-toc-link" data-tracking-container="true" ><span class="link__wrapper">Interpretation</span></a></div></li> <li id="mntl-toc__list-item_8-0" class="comp mntl-toc__list-item mntl-block"><div id="mntl-toc__list-item-heading_8-0" class="comp mntl-toc__list-item-heading mntl-block"><a href="#toc-how-do-you-calculate-disposable-income" rel="nocaes" id="mntl-toc__list-item-link_8-0" class="mntl-toc__list-item-link mntl-text-link mntl-toc__list-item-link js-mntl-toc-link" data-tracking-container="true" ><span class="link__wrapper">FAQs</span></a></div></li> <li id="mntl-toc__list-item_9-0" class="comp mntl-toc__list-item mntl-block"><div id="mntl-toc__list-item-heading_9-0" class="comp mntl-toc__list-item-heading mntl-block"><a href="#toc-the-bottom-line" rel="nocaes" id="mntl-toc__list-item-link_9-0" class="mntl-toc__list-item-link mntl-text-link mntl-toc__list-item-link js-mntl-toc-link" data-tracking-container="true" ><span class="link__wrapper">The Bottom Line</span></a></div></li></ul></div></div></div></div> </div><div class="loc article-pre-content"><ul id="breadcrumbs_1-0" class="comp breadcrumbs mntl-breadcrumbs mntl-block" data-tracking-container="true"><li id="mntl-breadcrumbs__item_1-0" class="comp mntl-breadcrumbs__item mntl-block"><a href="https://www.investopedia.com/budgeting-and-savings-4427755" rel="nocaes" id="mntl-text-link_1-0" class="mntl-text-link mntl-breadcrumbs__link" data-tracking-container="true" ><span class="link__wrapper">Budgeting & Savings</span></a></li> <li id="mntl-breadcrumbs__item_2-0" class="comp mntl-breadcrumbs__item mntl-block"><a href="https://www.investopedia.com/budgeting-4689726" rel="nocaes" id="mntl-text-link_2-0" class="mntl-text-link mntl-breadcrumbs__link" data-tracking-container="true" ><span class="link__wrapper">Budgeting</span></a></li></ul> <header id="article-header_1-0" class="comp article-header mntl-block right-rail__offset js-toc-appear"><h1 id="article-heading_1-0" class="comp article-heading mntl-text-block">What Is Disposable Income, and Why Is It Important?</h1> <div id="sponsorship-wrapper_1-0" class="comp sponsorship-wrapper mntl-block"></div> <div id="article-meta_1-0" class="comp article-meta mntl-block" data-tracking-container="true"><div id="finance-bylines_1-0" class="comp finance-bylines mntl-bylines"><div id="mntl-bylines__group_1-0" class="comp mntl-bylines__group mntl-block mntl-bylines__group--author"><div id="mntl-bylines__item_1-0" class="comp mntl-bylines__item mntl-attribution__item mntl-attribution__item--has-date"> <span class="mntl-attribution__item-descriptor">By</span> <div data-tooltip="Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School for Social Research and Doctor of Philosophy in English literature from NYU." tabindex="0" data-inline-tooltip="true"> <a href="https://www.investopedia.com/contributors/53661/" rel="nocaes" data-trigger-link="true" class="mntl-attribution__item-name" tabindex="-1" >Will Kenton</a> <div id="mntl-author-tooltip_1-0" class="comp mntl-author-tooltip mntl-tooltip mntl-group"> <div class="mntl-author-tooltip__top "> <div class="mntl-author-tooltip__image-wrapper"> <div class="img-placeholder" style="padding-bottom:150.0%;"> <img data-srcset="https://www.investopedia.com/thmb/ZPvfWnNTIUoaFnnSSiJO4qRIRco=/90x0/filters:no_upscale():max_bytes(150000):strip_icc()/wk_headshot_aug_2018_02__william_kenton-5bfc261446e0fb005118afc9.jpg 90w" data-sizes="90px" data-src="https://www.investopedia.com/thmb/Zci_gLbtyoAYqP8DBmu7x9t0SnQ=/90x200/filters:no_upscale():max_bytes(150000):strip_icc()/wk_headshot_aug_2018_02__william_kenton-5bfc261446e0fb005118afc9.jpg" class="lazyload mntl-author-tooltip__image" width="90" height="200" /> <noscript> <img src="https://www.investopedia.com/thmb/Zci_gLbtyoAYqP8DBmu7x9t0SnQ=/90x200/filters:no_upscale():max_bytes(150000):strip_icc()/wk_headshot_aug_2018_02__william_kenton-5bfc261446e0fb005118afc9.jpg" srcset="https://www.investopedia.com/thmb/ZPvfWnNTIUoaFnnSSiJO4qRIRco=/90x0/filters:no_upscale():max_bytes(150000):strip_icc()/wk_headshot_aug_2018_02__william_kenton-5bfc261446e0fb005118afc9.jpg 90w" alt="" width="90" height="200" class="img--noscript mntl-author-tooltip__image" /> </noscript> </div> </div> <a href="https://www.investopedia.com/contributors/53661/" rel="nocaes" id="finance-author-tooltip__link_1-0" class="finance-author-tooltip__link mntl-text-link " data-tracking-container="true" ><span class="link__wrapper">Full Bio</span></a> <div id="finance-author-tooltip__social_1-0" class="comp finance-author-tooltip__social finance-social-nav mntl-social-nav" data-tracking-container="true"> <ul class="social-nav__list"> <li class="social-nav__item social-nav__item--linkedin"> <a href="https://www.linkedin.com/in/will-kenton-7a099b5/" target="_blank" rel="noopener nofollow sponsored noskim" data-text="Follow" class="social-nav__link social-nav__link--linkedin" aria-label="Visit Will Kenton's LinkedIn" > <svg class="icon icon-linkedin social-nav__icon" > <use xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="#icon-linkedin" href="#icon-linkedin"></use> </svg> </a> </li> </ul> </div> <div class="mntl-author-tooltip__bio"> Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School for Social Research and Doctor of Philosophy in English literature from NYU. </div> </div> <div class="mntl-author-tooltip__bottom"> <span class="mntl-author-tooltip__learn-more-text">Learn about our </span> <a href="/legal-4768893#editorial-policy" rel="nocaes" class="mntl-author-tooltip__learn-more-link" >editorial policies</a> </div> </div></div> </div> <div class="mntl-attribution__item-date">Updated June 18, 2024</div></div> <div id="mntl-bylines__group_2-0" class="comp mntl-bylines__group mntl-block mntl-bylines__group--finance_reviewer"><div id="mntl-bylines__item_2-0" class="comp mntl-bylines__item mntl-attribution__item "><svg class="icon reviewer-icon mntl-attribution__item-icon" > <use xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="#reviewer-icon" href="#reviewer-icon"></use> </svg> <span class="mntl-attribution__item-descriptor">Reviewed by</span> <div data-tooltip="<p>Erika Rasure is globally-recognized as a leading consumer economics subject matter expert, researcher, and educator. She is a financial therapist and transformational coach, with a special interest in helping women learn how to invest.</p>" tabindex="0" data-inline-tooltip="true"> <a href="https://www.investopedia.com/erika-rasure-4800388" rel="nocaes" data-trigger-link="true" class="mntl-attribution__item-name" tabindex="-1" >Erika Rasure</a> <div id="mntl-author-tooltip_2-0" class="comp mntl-author-tooltip mntl-tooltip mntl-group"> <div class="mntl-author-tooltip__top "> <div class="mntl-author-tooltip__image-wrapper"> <div class="img-placeholder" style="padding-bottom:66.7%;"> <img data-srcset="https://www.investopedia.com/thmb/0yPT7GHossEzyqXlttjirnsL7TM=/90x0/filters:no_upscale():max_bytes(150000):strip_icc()/CSP_ER9-ErikaR.-dce5c7e19ef04426804e6b611fb1b1b4.jpg 90w" data-sizes="90px" data-src="https://www.investopedia.com/thmb/nTQ8gkm1U0HKME6GioWErcwOZAY=/90x200/filters:no_upscale():max_bytes(150000):strip_icc()/CSP_ER9-ErikaR.-dce5c7e19ef04426804e6b611fb1b1b4.jpg" alt="erika" class="lazyload mntl-author-tooltip__image" width="90" height="200" /> <noscript> <img src="https://www.investopedia.com/thmb/nTQ8gkm1U0HKME6GioWErcwOZAY=/90x200/filters:no_upscale():max_bytes(150000):strip_icc()/CSP_ER9-ErikaR.-dce5c7e19ef04426804e6b611fb1b1b4.jpg" srcset="https://www.investopedia.com/thmb/0yPT7GHossEzyqXlttjirnsL7TM=/90x0/filters:no_upscale():max_bytes(150000):strip_icc()/CSP_ER9-ErikaR.-dce5c7e19ef04426804e6b611fb1b1b4.jpg 90w" alt="erika" width="90" height="200" class="img--noscript mntl-author-tooltip__image" /> </noscript> </div> </div> <div id="mntl-author-tooltip__name_1-0" class="comp mntl-author-tooltip__name mntl-attribution__item "><svg class="icon reviewer-icon mntl-attribution__item-icon" > <use xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="#reviewer-icon" href="#reviewer-icon"></use> </svg> <span class="mntl-attribution__item-descriptor">Reviewed by</span> <span id="mntl-author-tooltip__name_1-0" class="comp mntl-author-tooltip__name mntl-attribution__item mntl-attribution__item-name">Erika Rasure</span> </div> <a href="https://www.investopedia.com/erika-rasure-4800388" rel="nocaes" id="finance-author-tooltip__link_2-0" class="finance-author-tooltip__link mntl-text-link " data-tracking-container="true" ><span class="link__wrapper">Full Bio</span></a> <div class="mntl-author-tooltip__bio"> <p>Erika Rasure is globally-recognized as a leading consumer economics subject matter expert, researcher, and educator. She is a financial therapist and transformational coach, with a special interest in helping women learn how to invest.</p> </div> </div> <div class="mntl-author-tooltip__bottom"> <span class="mntl-author-tooltip__learn-more-text">Learn about our </span> <a href="/investopedia-financial-review-board-5076269" rel="nocaes" class="mntl-author-tooltip__learn-more-link" >Financial Review Board</a> </div> </div></div> </div></div> <div id="mntl-bylines__group_3-0" class="comp mntl-bylines__group mntl-block mntl-bylines__group--fact_checker"><div id="mntl-bylines__item_3-0" class="comp mntl-bylines__item mntl-attribution__item "><svg class="icon reviewer-icon mntl-attribution__item-icon" > <use xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="#reviewer-icon" href="#reviewer-icon"></use> </svg> <span class="mntl-attribution__item-descriptor">Fact checked by</span> <div data-tooltip="Ryan Eichler holds a B.S.B.A with a concentration in Finance from Boston University. He has held positions in, and has deep experience with, expense auditing, personal finance, real estate, as well as fact checking & editing." tabindex="0" data-inline-tooltip="true"> <a href="https://www.investopedia.com/ryan-eichler-5217138" rel="nocaes" data-trigger-link="true" class="mntl-attribution__item-name" tabindex="-1" >Ryan Eichler</a> <div id="mntl-author-tooltip_3-0" class="comp mntl-author-tooltip mntl-tooltip mntl-group"> <div class="mntl-author-tooltip__top "> <div class="mntl-author-tooltip__image-wrapper"> <div class="img-placeholder" style="padding-bottom:107.7%;"> <img data-srcset="https://www.investopedia.com/thmb/smKHyj3K82-7yy2cPxegAk0vQ-w=/90x0/filters:no_upscale():max_bytes(150000):strip_icc()/InvestopediaHeadShot-988693bb87b54bb095bd3789cd117a50.jpg 90w" data-sizes="90px" data-src="https://www.investopedia.com/thmb/Os_o1-U3iIjTugk1bEDa3QH7uUM=/90x200/filters:no_upscale():max_bytes(150000):strip_icc()/InvestopediaHeadShot-988693bb87b54bb095bd3789cd117a50.jpg" alt="Headshot" class="lazyload mntl-author-tooltip__image" width="90" height="200" /> <noscript> <img src="https://www.investopedia.com/thmb/Os_o1-U3iIjTugk1bEDa3QH7uUM=/90x200/filters:no_upscale():max_bytes(150000):strip_icc()/InvestopediaHeadShot-988693bb87b54bb095bd3789cd117a50.jpg" srcset="https://www.investopedia.com/thmb/smKHyj3K82-7yy2cPxegAk0vQ-w=/90x0/filters:no_upscale():max_bytes(150000):strip_icc()/InvestopediaHeadShot-988693bb87b54bb095bd3789cd117a50.jpg 90w" alt="Headshot" width="90" height="200" class="img--noscript mntl-author-tooltip__image" /> </noscript> </div> </div> <div id="mntl-author-tooltip__name_2-0" class="comp mntl-author-tooltip__name mntl-attribution__item "><svg class="icon reviewer-icon mntl-attribution__item-icon" > <use xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="#reviewer-icon" href="#reviewer-icon"></use> </svg> <span class="mntl-attribution__item-descriptor">Fact checked by</span> <span id="mntl-author-tooltip__name_2-0" class="comp mntl-author-tooltip__name mntl-attribution__item mntl-attribution__item-name">Ryan Eichler</span> </div> <a href="https://www.investopedia.com/ryan-eichler-5217138" rel="nocaes" id="finance-author-tooltip__link_3-0" class="finance-author-tooltip__link mntl-text-link " data-tracking-container="true" ><span class="link__wrapper">Full Bio</span></a> <div id="finance-author-tooltip__social_3-0" class="comp finance-author-tooltip__social finance-social-nav mntl-social-nav" data-tracking-container="true"> <ul class="social-nav__list"> <li class="social-nav__item social-nav__item--linkedin"> <a href="https://www.linkedin.com/in/ryan-eichler-13136912a/" target="_blank" rel="noopener nofollow sponsored noskim" data-text="Follow" class="social-nav__link social-nav__link--linkedin" aria-label="Visit Will Kenton's LinkedIn" > <svg class="icon icon-linkedin social-nav__icon" > <use xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="#icon-linkedin" href="#icon-linkedin"></use> </svg> </a> </li> </ul> </div> <div class="mntl-author-tooltip__bio"> Ryan Eichler holds a B.S.B.A with a concentration in Finance from Boston University. He has held positions in, and has deep experience with, expense auditing, personal finance, real estate, as well as fact checking & editing. </div> </div> <div class="mntl-author-tooltip__bottom"> <span class="mntl-author-tooltip__learn-more-text">Learn about our </span> <a href="/legal-4768893#editorial-policy" rel="nocaes" class="mntl-author-tooltip__learn-more-link" >editorial policies</a> </div> </div></div> </div></div> </div></div></header> </div><div class="loc article-content"><div id="article__primary-video-container--jw_1-0" class="comp article__primary-video-container--jw mntl-block"><div id="article__primary-video--jw_1-0" class="comp article__primary-video--jw mntl-jwplayer mm-video lazyload right-rail__offset aspectratio-16:9" data-bgset="https://cdn.jwplayer.com/v2/media/oYEDPHGP/poster.jpg?width=720" data-sizes="auto"> <video class="mntl-jwplayer__video lazyload" preload="none" data-poster="https://cdn.jwplayer.com/v2/media/oYEDPHGP/poster.jpg?width=720"></video> </div></div> <div id="article-body_1-0" class="comp article-body mntl-block" data-contain-tooltips="true"><div id="mntl-sc-page_1-0" class="comp mntl-sc-page mntl-block article-body-content" data-sc-sticky-offset="80" data-sc-ad-label-height="0" data-sc-ad-track-spacing="90" data-sc-min-track-height="250" data-sc-max-track-height="600" data-sc-breakpoint="50em" data-sc-load-immediate="1" data-sc-content-positions="[300, 1, 1, 1250, 1, 1, 1, 1]" data-bind-scroll-on-start="true"><span class="heading-toc" id="toc-what-is-disposable-income"></span><h2 id="mntl-sc-block_1-0" class="comp mntl-sc-block finance-sc-block-heading mntl-sc-block-heading"> <span class="mntl-sc-block-heading__text"> What Is Disposable Income? </span> </h2> <p id="mntl-sc-block_2-0" class="comp mntl-sc-block finance-sc-block-html mntl-sc-block-html"> Disposable income is the amount of money that an individual or household has to spend or save after federal, state, and local taxes and other mandatory charges are deducted. Economists closely monitor disposable personal income as a key indicator of the strength of the economy. Also known as disposable personal income or <a href="https://www.investopedia.com/terms/n/netincome.asp" data-component="link" data-source="inlineLink" data-type="internalLink" data-ordinal="1">net income</a>, It includes both necessary spending on essentials like food and rent and discretionary spending on leisure and luxury items. </p> <div id="mntl-sc-block_3-0" class="comp mntl-sc-block mntl-sc-block-adslot mntl-block"></div> <div id="mntl-sc-block_4-0" class="comp mntl-sc-block finance-sc-block-callout mntl-block"><div id="mntl-sc-block_5-0" class="comp mntl-sc-block mntl-sc-block-callout mntl-block theme-whatyouneedtoknow" data-tracking-id="mntl-sc-block-callout" data-tracking-container="true"><h3 id="mntl-sc-block-callout-heading_1-0" class="comp mntl-sc-block-callout-heading mntl-text-block">Key Takeaways</h3> <div id="mntl-sc-block-callout-body_1-0" class="comp mntl-sc-block-callout-body mntl-text-block"><ul><li>Disposable income is the amount of income left after taxes and other mandatory charges are deducted.</li><li>Discretionary income is the amount of net income an individual has to spend after all necessary expenses are paid.</li><li>Economists monitor both numbers to help determine how consumers as a whole are saving, spending, and borrowing money.<br/></li></ul></div></div></div> <figure id="mntl-sc-block_6-0" class="comp mntl-sc-block finance-sc-block-image mntl-sc-block-universal-image mntl-sc-block-image--no-theme no-theme mntl-sc-block-image inline-image figure-landscape figure-high-res"> <div class="figure-media"> <div class="img-placeholder" style="padding-bottom:66.6%;"> <img data-src="https://www.investopedia.com/thmb/v-zZFLvq-RYJ_yUyaQ1brsUyQL4=/1500x0/filters:no_upscale():max_bytes(150000):strip_icc()/Disposable-Income_Final_4197697-7c6b448d252043ffbc3f1be4fe22a542.jpg" width="1500" height="1000" data-srcset="https://www.investopedia.com/thmb/r65xPoDKxev5S_a_PPp26vKh6Ac=/750x0/filters:no_upscale():max_bytes(150000):strip_icc()/Disposable-Income_Final_4197697-7c6b448d252043ffbc3f1be4fe22a542.jpg 750w" data-sizes="750px" alt="Disposable Income" class="lazyload universal-image__image" data-expand="300" data-hi-res-src="https://www.investopedia.com/thmb/v-zZFLvq-RYJ_yUyaQ1brsUyQL4=/1500x0/filters:no_upscale():max_bytes(150000):strip_icc()/Disposable-Income_Final_4197697-7c6b448d252043ffbc3f1be4fe22a542.jpg" id=mntl-sc-block-image_1-0 data-tracking-container="true" data-img-lightbox="true" data-click-tracked="true" /> <noscript> <img src="https://www.investopedia.com/thmb/v-zZFLvq-RYJ_yUyaQ1brsUyQL4=/1500x0/filters:no_upscale():max_bytes(150000):strip_icc()/Disposable-Income_Final_4197697-7c6b448d252043ffbc3f1be4fe22a542.jpg" width="1500" height="1000" class="img--noscript universal-image__image" srcset="https://www.investopedia.com/thmb/r65xPoDKxev5S_a_PPp26vKh6Ac=/750x0/filters:no_upscale():max_bytes(150000):strip_icc()/Disposable-Income_Final_4197697-7c6b448d252043ffbc3f1be4fe22a542.jpg 750w" sizes="750px" alt="Disposable Income" /> </noscript> </div> </div> <figcaption id="mntl-figure-caption_1-0" class="comp mntl-figure-caption type--mouse figure-caption figure-article-caption"> <span class="figure-article-caption-owner"><p>Investopedia / Paige McLaughlin</p></span> </figcaption></figure> <span class="heading-toc" id="toc-formula-and-calculation-of-disposable-income"></span><h2 id="mntl-sc-block_7-0" class="comp mntl-sc-block finance-sc-block-heading mntl-sc-block-heading"> <span class="mntl-sc-block-heading__text"> Formula and Calculation of Disposable Income </span> </h2> <p id="mntl-sc-block_8-0" class="comp mntl-sc-block finance-sc-block-html mntl-sc-block-html"> There are several ways to calculate disposable income but the main formula used is: </p> <div id="mntl-sc-block_9-0" class="comp mntl-sc-block mntl-sc-block-adslot mntl-block"></div> <blockquote id="mntl-sc-block_10-0" class="comp mntl-sc-block finance-sc-block-html mntl-sc-block-html"> Disposable Income = Total Income - Taxes - Mandatory Deductions </blockquote> <div id="mntl-sc-block_11-0" class="comp mntl-sc-block mntl-sc-block-adslot mntl-block"></div> <p id="mntl-sc-block_12-0" class="comp mntl-sc-block finance-sc-block-html mntl-sc-block-html"> Total income is the entirety of gross wages that an individual earns. This is sometimes adjusted to reflect factors that alter that total. For example, products returned by a customer would reduce a sole proprietor's total income. </p> <div id="mntl-sc-block_13-0" class="comp mntl-sc-block mntl-sc-block-adslot mntl-block"></div> <p id="mntl-sc-block_14-0" class="comp mntl-sc-block finance-sc-block-html mntl-sc-block-html"> Taxes are eliminated from disposable income because they are mandatory. An individual may down-size to save money or splurge on a fancier car but there's no wiggle room in taxes. </p> <div id="mntl-sc-block_15-0" class="comp mntl-sc-block mntl-sc-block-adslot mntl-block"></div> <span class="heading-toc" id="toc-understanding-disposable-income"></span><h2 id="mntl-sc-block_16-0" class="comp mntl-sc-block finance-sc-block-heading mntl-sc-block-heading"> <span class="mntl-sc-block-heading__text"> Understanding Disposable Income </span> </h2> <p id="mntl-sc-block_17-0" class="comp mntl-sc-block finance-sc-block-html mntl-sc-block-html"> Disposable income is the amount of money that a person or family has left after paying their taxes. It is the portion of income that can be spent on necessities, such as food and rent. People can also use disposable income to pay for discretionary items, leisure activities, and investments. </p> <div id="mntl-sc-block_18-0" class="comp mntl-sc-block mntl-sc-block-adslot mntl-block"></div> <p id="mntl-sc-block_19-0" class="comp mntl-sc-block finance-sc-block-html mntl-sc-block-html"> This type of income plays a critical factor in the economy. It drives how much consumers spend, how much companies earn, and how much people save and invest. By extension, it drives consumer demand for goods, manufacturing levels, distribution, and the overall well-being of the economy. </p> <div id="mntl-sc-block_20-0" class="comp mntl-sc-block mntl-sc-block-adslot mntl-block"></div> <p id="mntl-sc-block_21-0" class="comp mntl-sc-block finance-sc-block-html mntl-sc-block-html"> Different statistical measures and economic indicators are derived from the number for disposable income. It is the starting point for calculating measurements such as <a href="https://www.investopedia.com/terms/d/discretionaryincome.asp" data-component="link" data-source="inlineLink" data-type="internalLink" data-ordinal="1">discretionary income</a>, personal savings rates, <a href="https://www.investopedia.com/terms/m/marginalpropensitytoconsume.asp" data-component="link" data-source="inlineLink" data-type="internalLink" data-ordinal="2">marginal propensity to consume (MPC)</a>, and <a href="https://www.investopedia.com/terms/m/marginal-propensity-save.asp" data-component="link" data-source="inlineLink" data-type="internalLink" data-ordinal="3">marginal propensity to save (MPS)</a>.<br> </p> <div id="mntl-sc-block_22-0" class="comp mntl-sc-block mntl-sc-block-adslot mntl-block"></div> <div id="mntl-sc-block_23-0" class="comp mntl-sc-block finance-sc-block-iframe mntl-sc-block-iframe mntl-block "><iframe id="mntl-sc-block-iframe__uri_1-0" class="comp mntl-sc-block-iframe__uri mntl-block lazyload" allow="encrypted-media 'src'" data-src="https://datawrapper.dwcdn.net/hJVVJ/1/" allowfullscreen="false" frameborder="0" title="Disposable Personal Income Per Capita Over Time"></iframe></div> <div id="mntl-sc-block_24-0" class="comp mntl-sc-block mntl-sc-block-adslot mntl-block"></div> <span class="heading-toc" id="toc-special-considerations"></span><h2 id="mntl-sc-block_25-0" class="comp mntl-sc-block finance-sc-block-heading mntl-sc-block-heading"> <span class="mntl-sc-block-heading__text"> Special Considerations </span> </h2> <p id="mntl-sc-block_26-0" class="comp mntl-sc-block finance-sc-block-html mntl-sc-block-html"> The federal government uses a slightly different method to calculate disposable income for <a href="https://www.investopedia.com/terms/g/garnishment.asp" data-component="link" data-source="inlineLink" data-type="internalLink" data-ordinal="1">wage garnishment</a> purposes. This is the seizure of a portion of a wage earner's paycheck before it is paid every payday until the amount due for back taxes or overdue child support is paid. </p> <div id="mntl-sc-block_27-0" class="comp mntl-sc-block mntl-sc-block-adslot mntl-block"></div> <p id="mntl-sc-block_28-0" class="comp mntl-sc-block finance-sc-block-html mntl-sc-block-html"> For this purpose, the government uses disposable income as a starting point to determine how much of each paycheck to seize. The amount garnished may not exceed 25% of a person's disposable income or the amount by which a person's weekly income exceeds 30 times the federal minimum wage, whichever is less. </p> <div id="mntl-sc-block_29-0" class="comp mntl-sc-block mntl-sc-block-adslot mntl-block"></div> <p id="mntl-sc-block_30-0" class="comp mntl-sc-block finance-sc-block-html mntl-sc-block-html"> The amount paid into a <a href="https://www.investopedia.com/terms/g/grossincome.asp" data-component="link" data-source="inlineLink" data-type="internalLink" data-ordinal="1">gross income</a> retirement plan also is deducted from disposable income in this calculation.<span class="ql-inline-citation" data-cite="1"></span> </p> <div id="mntl-sc-block_31-0" class="comp mntl-sc-block mntl-sc-block-adslot mntl-block"></div> <span class="heading-toc" id="toc-how-to-use-disposable-income"></span><h2 id="mntl-sc-block_32-0" class="comp mntl-sc-block finance-sc-block-heading mntl-sc-block-heading"> <span class="mntl-sc-block-heading__text"> How to Use Disposable Income </span> </h2> <p id="mntl-sc-block_33-0" class="comp mntl-sc-block finance-sc-block-html mntl-sc-block-html"> Unlike taxes, disposable income is relatively flexible and highly individualized. It includes both essential and non-essential spending. We've listed some of the key spending categories that people can and often do use with their disposable income. </p> <div id="mntl-sc-block_34-0" class="comp mntl-sc-block mntl-sc-block-adslot mntl-block"></div> <h3 id="mntl-sc-block_35-0" class="comp mntl-sc-block finance-sc-block-subheading mntl-sc-block-subheading"> <span class="mntl-sc-block-subheading__text"> Discretionary Income </span> </h3> <p id="mntl-sc-block_36-0" class="comp mntl-sc-block finance-sc-block-html mntl-sc-block-html"> Discretionary income is equal to disposable income minus all payments for necessities, including a <a href="https://www.investopedia.com/terms/m/mortgage.asp" data-component="link" data-source="inlineLink" data-type="internalLink" data-ordinal="1">mortgage</a> or rent payment, health insurance, food, and transportation. This portion of disposable income can be spent at will. </p> <div id="mntl-sc-block_37-0" class="comp mntl-sc-block mntl-sc-block-adslot mntl-block"></div> <p id="mntl-sc-block_38-0" class="comp mntl-sc-block finance-sc-block-html mntl-sc-block-html"> Discretionary income is the first to shrink after a job loss or pay reduction. Businesses that sell discretionary goods like jewelry or vacation packages tend to suffer the most during recessions. Their sales are watched closely by economists for signs of both recession and recovery. </p> <div id="mntl-sc-block_39-0" class="comp mntl-sc-block mntl-sc-block-adslot mntl-block"></div> <h3 id="mntl-sc-block_40-0" class="comp mntl-sc-block finance-sc-block-subheading mntl-sc-block-subheading"> <span class="mntl-sc-block-subheading__text"> Personal Savings Rate </span> </h3> <p id="mntl-sc-block_41-0" class="comp mntl-sc-block finance-sc-block-html mntl-sc-block-html"> The personal savings rate is the percentage of disposable income that goes into savings for retirement or other goals. </p> <div id="mntl-sc-block_42-0" class="comp mntl-sc-block mntl-sc-block-adslot mntl-block"></div> <p id="mntl-sc-block_43-0" class="comp mntl-sc-block finance-sc-block-html mntl-sc-block-html"> For several months in 2005 and 2006, the average personal savings rate dipped into negative territory for the first time since 1933.<span class="ql-inline-citation" data-cite="7"></span> This means that Americans spent all of their disposable income every month and still had to tap into savings or debt to make ends meet. </p> <div id="mntl-sc-block_44-0" class="comp mntl-sc-block mntl-sc-block-adslot mntl-block"></div> <h3 id="mntl-sc-block_45-0" class="comp mntl-sc-block finance-sc-block-subheading mntl-sc-block-subheading"> <span class="mntl-sc-block-subheading__text"> Marginal Propensity </span> </h3> <p id="mntl-sc-block_46-0" class="comp mntl-sc-block finance-sc-block-html mntl-sc-block-html"> Marginal propensity to consume is the percentage of each additional dollar of disposable income that is spent immediately, while marginal propensity to save is the percentage that is saved. </p> <div id="mntl-sc-block_47-0" class="comp mntl-sc-block mntl-sc-block-adslot mntl-block"></div> <div id="mntl-sc-block_48-0" class="comp mntl-sc-block finance-sc-block-callout mntl-block"><div id="mntl-sc-block_49-0" class="comp mntl-sc-block mntl-sc-block-callout mntl-block theme-note" data-tracking-id="mntl-sc-block-callout" data-tracking-container="true"><h3 id="mntl-sc-block-callout-heading_2-0" class="comp mntl-sc-block-callout-heading mntl-text-block no-title"></h3> <div id="mntl-sc-block-callout-body_2-0" class="comp mntl-sc-block-callout-body mntl-text-block"><p>Both the marginal propensity to consume and the marginal propensity to save are positively correlated to income. As people make more money, they're more likely to buy things and save for the future. This is usually shown graphically as an upward-sloping curve.</p></div></div></div> <span class="heading-toc" id="toc-importance-of-disposable-income"></span><h2 id="mntl-sc-block_50-0" class="comp mntl-sc-block finance-sc-block-heading mntl-sc-block-heading"> <span class="mntl-sc-block-heading__text"> Importance of Disposable Income </span> </h2> <p id="mntl-sc-block_51-0" class="comp mntl-sc-block finance-sc-block-html mntl-sc-block-html"> Disposable income is not only important to individuals but holds massive value to society as a whole. Its essential qualities include: </p> <div id="mntl-sc-block_52-0" class="comp mntl-sc-block mntl-sc-block-adslot mntl-block"></div> <ul id="mntl-sc-block_53-0" class="comp mntl-sc-block finance-sc-block-html mntl-sc-block-html"> <li><strong>Financial flexibility</strong>:<strong> </strong>Having disposable income gives people the freedom to decide how to spend their money. It is key to taking care of current requirements as well as making long-term plans.</li> <li><strong>Higher level of living</strong>:<strong> </strong>More disposable income means a higher level of living. It makes it possible for people to enjoy higher quality goods and services, leisure pursuits, hobbies, and participation in social and cultural events.</li> <li><strong>Economic growth</strong>:<strong> </strong>Consumer spending, a major contributor to <a href="https://www.investopedia.com/terms/m/macroeconomics.asp" data-component="link" data-source="inlineLink" data-type="internalLink" data-ordinal="1">macroeconomic</a> growth, is driven in large part by disposable income. When people have extra money, they are more inclined to spend it on products and services, which boosts economic activity and encourages job creation.</li> <li><strong>Savings and investments</strong>:<strong> </strong>People with disposable income can put money away for the future. It makes it possible for people to achieve long-term goals such as college tuition and retirement. Investing feeds <a href="https://www.investopedia.com/terms/e/economicgrowth.asp" data-component="link" data-source="inlineLink" data-type="internalLink" data-ordinal="2">economic growth</a> by providing capital to companies.</li> <li><strong>Tax revenue</strong>: A person who has no disposable income probably has little or no taxable income. Tax revenues are the primary source of government spending.<br></li> </ul> <div id="mntl-sc-block_54-0" class="comp mntl-sc-block mntl-sc-block-adslot mntl-block"></div> <span class="heading-toc" id="toc-interpreting-disposable-income"></span><h2 id="mntl-sc-block_55-0" class="comp mntl-sc-block finance-sc-block-heading mntl-sc-block-heading"> <span class="mntl-sc-block-heading__text"> Interpreting Disposable Income </span> </h2> <p id="mntl-sc-block_56-0" class="comp mntl-sc-block finance-sc-block-html mntl-sc-block-html"> The <a href="https://www.investopedia.com/terms/b/bea.asp" data-component="link" data-source="inlineLink" data-type="internalLink" data-ordinal="1">Bureau of Economic Analysis (BEA)</a> tracks the month-to-month changes in disposable personal income. The agency reported that disposable income increased by $40.2 billion, or 0.2%, in April 2024 compared to the previous month.<span class="ql-inline-citation" data-cite="11"></span> A decrease in this month-over-month measurement would mean that households have less residual income compared to the prior month. </p> <div id="mntl-sc-block_57-0" class="comp mntl-sc-block mntl-sc-block-adslot mntl-block"></div> <p id="mntl-sc-block_58-0" class="comp mntl-sc-block finance-sc-block-html mntl-sc-block-html"> The Federal Reserve is also interested in disposable income, as household savings and spending influence monetary and fiscal policy, The Federal Reserve Bank of St. Louis reported aggregate real disposable personal income of over $16.94 trillion as of April 2024. It was substantially higher (about $20.42 trillion) in March 2021 when the Federal Reserve raised interest rates to cool inflation.<span class="ql-inline-citation" data-cite="9"></span> </p> <div id="mntl-sc-block_59-0" class="comp mntl-sc-block mntl-sc-block-adslot mntl-block"></div> <p id="mntl-sc-block_60-0" class="comp mntl-sc-block finance-sc-block-html mntl-sc-block-html"> Certain industries like agriculture have good reasons to watch the numbers on disposable income. The U.S. Department of Agriculture measures the percent of disposable income an average individual spends on food. That helps farmers plan future harvests.<span class="ql-inline-citation" data-cite="10"></span> </p> <div id="mntl-sc-block_61-0" class="comp mntl-sc-block mntl-sc-block-adslot mntl-block"></div> <div id="mntl-sc-block_62-0" class="comp mntl-sc-block finance-sc-block-questionandanswer mntl-sc-block-questionandanswer"><span class="heading-toc" id="toc-how-do-you-calculate-disposable-income"></span> <h2 class="mntl-sc-block-questionandanswer__question">How Do You Calculate Disposable Income?</h2> <div class="mntl-sc-block-questionandanswer__answer"><p>To calculate your disposable income, you will first need to know what your gross income is. For an individual, <a href="https://www.investopedia.com/terms/g/grossincome.asp" data-component="link" data-source="inlineLink" data-type="internalLink" data-ordinal="1">gross income</a> is your total pay, which is the amount of money you've earned before taxes and other items are deducted. From your gross income, subtract the income taxes you owe. The amount left represents your disposable income.</p></div> </div> <div id="mntl-sc-block_63-0" class="comp mntl-sc-block mntl-sc-block-adslot mntl-block"></div> <div id="mntl-sc-block_64-0" class="comp mntl-sc-block finance-sc-block-questionandanswer mntl-sc-block-questionandanswer"><span class="heading-toc" id="toc-is-disposable-income-net-or-gross"></span> <h2 class="mntl-sc-block-questionandanswer__question">Is Disposable Income Net or Gross?</h2> <div class="mntl-sc-block-questionandanswer__answer"><p>Disposable income is a net amount. It is the amount of money an individual or family has left to spend or save after all taxes are deducted from gross income.</p></div> </div> <div id="mntl-sc-block_65-0" class="comp mntl-sc-block mntl-sc-block-adslot mntl-block"></div> <div id="mntl-sc-block_66-0" class="comp mntl-sc-block finance-sc-block-questionandanswer mntl-sc-block-questionandanswer"><span class="heading-toc" id="toc-is-disposable-income-taxable"></span> <h2 class="mntl-sc-block-questionandanswer__question">Is Disposable Income Taxable?</h2> <div class="mntl-sc-block-questionandanswer__answer"><p>Disposable income is, by definition, after-tax income.</p></div> </div> <div id="mntl-sc-block_67-0" class="comp mntl-sc-block mntl-sc-block-adslot mntl-block"></div> <div id="mntl-sc-block_68-0" class="comp mntl-sc-block finance-sc-block-questionandanswer mntl-sc-block-questionandanswer"><span class="heading-toc" id="toc-what-is-the-average-disposable-income-in-the-us"></span> <h2 class="mntl-sc-block-questionandanswer__question">What Is the Average Disposable Income in the U.S.?</h2> <div class="mntl-sc-block-questionandanswer__answer"><p>The disposable income per capita in the United States was $60,276 in 2023.<span class="ql-inline-citation" data-cite="6"></span> The average number notably does not reflect the gap between the richest and the rest. The <a href="https://www.investopedia.com/terms/o/oecd.asp" data-component="link" data-source="inlineLink" data-type="internalLink" data-ordinal="1">Organisation for Economic Co-operation and Development (OECD)</a> reports that the top 20% of the U.S. population earns almost seven times as much as the bottom 20%.<span class="ql-inline-citation" data-cite="5"></span></p></div> </div> <div id="mntl-sc-block_69-0" class="comp mntl-sc-block mntl-sc-block-adslot mntl-block"></div> <div id="mntl-sc-block_70-0" class="comp mntl-sc-block finance-sc-block-questionandanswer mntl-sc-block-questionandanswer"><span class="heading-toc" id="toc-what-is-the-proportion-of-saved-disposable-income-called"></span> <h2 class="mntl-sc-block-questionandanswer__question">What Is the Proportion of Saved Disposable Income Called?</h2> <div class="mntl-sc-block-questionandanswer__answer"><p>The proportion of saved disposable income is known as the <a href="https://www.investopedia.com/terms/a/average-propensity-to-save.asp" data-component="link" data-source="inlineLink" data-type="internalLink" data-ordinal="1">average propensity to save (APS)</a>. It is also called the savings ratio.</p><p>This refers to the proportion of a population's overall income that is saved rather than spent. To calculate the APS ratio, divide total savings by disposable (after-tax) income.</p></div> </div> <div id="mntl-sc-block_71-0" class="comp mntl-sc-block mntl-sc-block-adslot mntl-block"></div> <span class="heading-toc" id="toc-the-bottom-line"></span><h2 id="mntl-sc-block_72-0" class="comp mntl-sc-block finance-sc-block-heading mntl-sc-block-heading"> <span class="mntl-sc-block-heading__text"> The Bottom Line </span> </h2> <p id="mntl-sc-block_73-0" class="comp mntl-sc-block finance-sc-block-html mntl-sc-block-html"> Disposable income is money that remains to be used after all taxes are paid. All products and services including rent or mortgage payments, food, and utilities come out of disposable income. What is left over for wants (as opposed to needs) is known as discretionary income. </p> <div id="mntl-sc-block_74-0" class="comp mntl-sc-block mntl-sc-block-adslot mntl-block"></div> <p id="mntl-sc-block_75-0" class="comp mntl-sc-block finance-sc-block-html mntl-sc-block-html"> In a society as a whole, when disposable income increases, people spend or save more, leading to a growth in overall consumption. <a href="https://www.investopedia.com/terms/c/consumer-spending.asp" data-component="link" data-source="inlineLink" data-type="internalLink" data-ordinal="1">Consumer spending</a> is one of the most important measures of demand, in turn driving business expansion and the creation of jobs. </p></div> <div id="textnote-placeholder_1-0" class="comp textnote-placeholder mntl-block"></div> <div id="textnote_1-0" class="comp textnote mm-ads-gpt-adunit gpt textnote "> <div id="textnote" class="wrapper" ></div> </div></div> </div><div class="loc article-post-content"><div id="article-sources_1-0" class="comp article-sources mntl-article-sources mntl-expandable-block" data-scroll-offset="100"><div class="loc toggle-content"><div id="mntl-article-sources__wrapper_1-0" class="comp mntl-article-sources__wrapper mntl-block article-sources__wrapper" data-click-tracked="true"><div id="mntl-article-sources__heading_1-0" class="comp mntl-article-sources__heading mntl-text-block article-sources__heading">Article Sources</div> <div id="mntl-article-sources__icon-wrapper_1-0" class="comp mntl-article-sources__icon-wrapper mntl-block article-sources__icon-wrapper"><div id="article-sources__show-icon_1-0" class="comp article-sources__show-icon mntl-block"></div> <div id="article-sources__hide-icon_1-0" class="comp article-sources__hide-icon mntl-block"></div></div></div> </div><div class="loc expandable-content"> <div id="article-sources__disclaimer_1-0" class="comp article-sources__disclaimer mntl-block">Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in our <a href="https://www.investopedia.com/legal-4768893#EditorialPolicy" rel="nocaes" id="article-sources__disclaimer-text-link_1-0" class="article-sources__disclaimer-text-link mntl-text-link " data-tracking-container="true" ><span class="link__wrapper">editorial policy.</span></a></div> <div id="mntl-article-sources__citation-sources-1_1-0" class="comp mntl-article-sources__citation-sources-1 mntl-citation-sources mntl-sources" data-tracking-container="true"> <ol class="mntl-sources__content"> <li class="mntl-sources__source" id="citation-1"><p>U.S. Department of Labor. "<a href="https://www.dol.gov/agencies/whd/fact-sheets/30-cppa" data-component="link" data-source="inlineLink" data-type="externalLink" data-ordinal="1">Fact Sheet #30: The Federal Wage Garnishment Law, Consumer Credit Protection Act's Title III (CCPA)</a>."</p></li> <li class="mntl-sources__source" id="citation-7"><p>U.S. Government Accountability Office. "<a href="https://www.gao.gov/products/gao-07-600cg" data-component="link" data-source="inlineLink" data-type="externalLink" data-ordinal="1">Fiscal Stewardship and Defense Transformation</a>."</p></li> <li class="mntl-sources__source" id="citation-11"><p>Bureau of Economic Analysis. "<a href="https://www.bea.gov/news/2024/personal-income-and-outlays-april-2024" data-component="link" data-source="inlineLink" data-type="externalLink" data-ordinal="1">Personal Income and Outlays, April 2024</a>."</p></li> <li class="mntl-sources__source" id="citation-9"><p>Federal Reserve Bank of St. Louis. "<a href="https://fred.stlouisfed.org/series/DSPIC96" data-component="link" data-source="inlineLink" data-type="externalLink" data-ordinal="1">Real Disposable Personal Income</a>."</p></li> <li class="mntl-sources__source" id="citation-10"><p>United States Department of Agriculture. "<a href="https://www.ers.usda.gov/data-products/chart-gallery/gallery/chart-detail/?chartId=76967" data-component="link" data-source="inlineLink" data-type="externalLink" data-ordinal="1">Budget share for total food increased 13 percent in 2022</a>."</p></li> <li class="mntl-sources__source" id="citation-6"><p>St. Louis Fed. "<a href="https://fred.stlouisfed.org/series/A229RC0A052NBEA" data-component="link" data-source="inlineLink" data-type="externalLink" data-ordinal="1">Disposable Personal Income Per Capita</a>."</p></li> <li class="mntl-sources__source" id="citation-5"><p>Organisation for Economic Co-operation and Development. "<a href="https://www.oecdbetterlifeindex.org/countries/united-states/" data-component="link" data-source="inlineLink" data-type="externalLink" data-ordinal="1">OECD Better Life Index - United States</a>."</p></li> </ol> </div> </div></div> <div id="performance-marketing_1-0" class="comp performance-marketing mntl-block "><div id="gam-ad-table_1-0" class="comp gam-ad-table ad-table mntl-block"></div></div> </div><div class="loc article-right-rail"><div id="mm-ads-right-rail_1-0" class="comp mm-ads-right-rail mntl-block"><div id="sc-billboard-group_1-0" class="comp sc-billboard-group mntl-block js-scads-inline-content"><div id="mntl-block_1-0" class="comp mntl-block"><div id="fin-billboard1-sticky-dynamic_1-0" class="comp fin-billboard1-sticky-dynamic mm-ads-sc-sticky-square scads-to-load right-rail__item" data-height="1050" style="height: 1050px;"><div id="mm-ads-sc-sticky-square-ad_1-0" class="comp mm-ads-sc-sticky-square-ad billboard1-dynamic mm-ads-dynamic-square mm-ads-gpt-dynamic-adunit mm-ads-gpt-adunit mm-ads-square gpt square dynamic"> <div id="square-flex-1" class="wrapper" data-type="square" data-pos="atf" data-priority="2" data-sizes="[[300, 250],[300, 600],[300, 1050],[160, 600]]" data-rtb="true" data-wait-for-third-party="false" data-targeting="{}"></div> </div></div></div> <div id="mntl-block_2-0" class="comp mntl-block"><div id="fin-billboard2-sticky-dynamic_1-0" class="comp fin-billboard2-sticky-dynamic mm-ads-sc-sticky-square scads-to-load right-rail__item" data-height="600" style="height: 600px;"><div id="mm-ads-sc-sticky-square-ad_2-0" class="comp mm-ads-sc-sticky-square-ad billboard2-dynamic mm-ads-dynamic-square mm-ads-gpt-dynamic-adunit mm-ads-gpt-adunit mm-ads-square gpt square dynamic"> <div id="square-flex-2" class="wrapper" data-type="square" data-pos="btf1" data-priority="3" data-sizes="[[300, 250],[300, 600],[300, 601],[160, 600], "fluid"]" data-rtb="true" data-wait-for-third-party="false" data-targeting="{}"></div> </div></div></div> <div id="mntl-block_3-0" class="comp mntl-block"><div id="fin-billboard3-sticky-dynamic_1-0" class="comp fin-billboard3-sticky-dynamic mm-ads-sc-sticky-square scads-to-load right-rail__item" data-height="600" style="height: 600px;"><div id="mm-ads-sc-sticky-square-ad_3-0" class="comp mm-ads-sc-sticky-square-ad billboard3-dynamic mm-ads-dynamic-square mm-ads-gpt-dynamic-adunit mm-ads-gpt-adunit mm-ads-square gpt square dynamic"> <div id="square-fixed" class="wrapper" data-type="square" data-pos="btf2" data-priority="5" data-sizes="[[300, 250],"fluid"]" data-rtb="true" data-wait-for-third-party="false" data-targeting="{}"></div> </div></div></div> <div id="mntl-block_4-0" class="comp mntl-block"><div id="native_1-0" class="comp native mm-ads-native " style="--native-ad-height: auto"><div id="mm-ads-native__adunit_1-0" class="comp mm-ads-native__adunit mm-ads-gpt-dynamic-adunit mm-ads-gpt-adunit scads-to-load gpt native dynamic"> <div id="native" class="wrapper" data-type="native" data-pos="native" data-priority="4" data-sizes="[[1, 3],"fluid"]" data-rtb="false" data-wait-for-third-party="false" data-targeting="{}"></div> </div></div> <div id="mid-bankingtable_1-0" class="comp mid-bankingtable finance-ad-table mm-ads-ad-table mntl-block dynamic-inline" data-ad-table="mid-bankingtable"><div id="mm-ads-ad-table__heading_1-0" class="comp mm-ads-ad-table__heading mntl-text-block">Open a New Bank Account</div> <div id="mm-ads-ad-table__disclosure_1-0" class="comp mm-ads-ad-table__disclosure mntl-block" data-tracking-container="true"><button id="mm-ads-ad-table__disclosure-label_1-0" class="comp mm-ads-ad-table__disclosure-label mntl-button"> Advertiser Disclosure </button> <div id="mm-ads-ad-table__disclosure-description_1-0" class="comp mm-ads-ad-table__disclosure-description mntl-block"><div id="mm-ads-ad-table__disclosure-close_1-0" class="comp mm-ads-ad-table__disclosure-close mntl-text-block">×</div> <div id="mm-ads-ad-table__disclosure-content_1-0" class="comp mm-ads-ad-table__disclosure-content mntl-text-block">The offers that appear in this table are from partnerships from which Investopedia receives compensation. 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