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. Disposable income that portion of an individual s income over which the recipient has complete discretion an accurate general definition of income is not easy to provide.
There s no hard and fast rule over how much discretionary income is the right level of discretionary income just as there is no rule about disposable income levels.
Disposable income over time. Income includes wages and salaries interest and dividend payments from financial assets and rents and net profits from businesses. What is disposable income. In addition find supportive economic data such as gross domestic product gdp consumer price index cpi disposable income unemployment and interest rates over this same time period and try using them in a regression model.
Of the 30 cities in this analysis aberdeen came out on top for disposable income with the average worker there potentially receiving 1 275 on average to do with as they please each month. Build alternative time series models for tiffany s sales and forecast future sales. This is 43 more than the overall uk average of 888 91.
Those three levels of taxes consist of income and property taxes and paycheck deductions for social security medicare and unemployment insurance. 4 the amount. The money you have left over from your salary or wages after you ve paid federal state and local taxes is your disposable income or disposable personal income dpi.
Disposable personal income in the united states averaged 5611 19 usd billion from 1959 until 2020 reaching an all time high of 19035 90 usd billion in april of 2020 and a record low of 351 54 usd billion in january of 1959. Clark sep 17 2020 during the year 2018 2019 the highest average amount of disposable income for any age group occurred in the 45 to 54 year old group at 44 510 gbp. Those living in brighton get the least disposable income at 618 30 below the average.
Generally speaking we all want to feel comfortable in our finances and this means living within our means without feeling that we re having to go without or make too many sacrifices to keep our heads above the water.