Pardon my ignorance, but what is the difference between discretionary funds and income.
The difference between discretionary fund and discretionary income is clear. Discretionary fund is a money allocated or budgeted for something that is not really necessary or investment, it's just a fund for hanging out with friends to have fun, or a money for dinning out, or a money for travels, while discretionary income is a leftover money after you must have settled your basic needs and expenses either for the week or for the month. And your Discretionary income is the money you will use to invest in bitcoin and to build your emergency fund and backup fund.
Let me try and break it down,
Discretionary income: is like a form of left over after taken care of your essential expenses ( rent, food, electricity bill etc.) , and you can choose to spend, saved or invest with it .
While Discretionary funds : money you choose to set aside for fun or for personal want and stuff , discretionary funds is from your discretionary income .
For instance my discretionary income is $500 I can choose to make use of $200 as my discretionary funds, while the remaining $400 can go into saving or investing .
You guys seems to be confused and you almost confused me too. There is no difference between discretionary funds and discretionary income rather it is just a misplacement of word in other words they are both same thing so saying discretionary funds is used for hanging out with friends and the rest is wrong not true because they are same thing just that people put discretionary funds in place of discretionary income or they mistake discretionary income to discretionary funds because generally there is nothing like discretionary funds so don't get it twisted people are referring to same thing.
Please don't be confused because the words "Funds" and 'Income " have separate definitions and meaning but if you doubt me you can go through your dictionary and you will see their. However I think this shouldn't call for an arguments since SirJay juanGee have already simplify both terms for our own understanding especially since our major discussion here is Bitcoin. Perhaps what JayJuanGee said and I also agreed to it was that your discretional funds is that extra cash that is left after settling your personal expenses while a discretional income is your regular flow that comes weekly or monthly that is needed to accelerate your bitcoin accumulation consistently. I think you should follow what JayJuanGee has already taught in relation to discretional income and discretional funds for your own good and also for the sake of newbies so that they don't get confused too
The meaning of discretionary imcome and discretionary funds seem to be same Bitcoin investment especially in this kind of discussion but normal the meaning look little different.for my understanding discretionary imcome is the money left after paying all our neccesary expenses such like taxes,food,transportants,rent and so on.like let just said after someone is recieving $500 every week or month maybe is what is essential needs amount will cover all is $300 the remaining $200 is what they call discretionary imcome but for the discretionary funds meaning is the amount someone set aside from the discretionary imcome like the remaining $200 someone set aside $150 for bitcoin more than that or $50 for flexing.so it is just amount someone set aside he or she want use for something that is non essential do someoen just want to do it.
I think you're not very correct with this your illustration about discretionary income and discretionary funds. Firstly I think the two terms are closely similar and can be used interchangeably. If we all agree to the fact that discretionary income or/and (funds) is that money left after attending to your basic needs or responsibilities after receiving your basic income or pay. This is the amount left after paying all your bills and making provision for what would take you down to your next payday.
Here, you tried to describe the percentage of your Discretionary income that goes into investment (bitcoin investment) and I don't accept discretionary funds as a better name for that.
Discretionary income is further allocated into 3 places and this marks their different terms ( Under discretionary income): these include;
BACKUP FUNDS, EMERGENCY FUNDS and "INVESTMENT FUNDS"The investment funds is what goes into investment and in this instance, Bitcoin investment. This investment funds are sometimes split to get a reserved funds which is kept aside by mostly those that aim at buying dips or aggressive bitcoin accumulation. Backup funds are money kept to compensate for excesses in the initial provision made for the period of time before your next payday due to inflation. While Emergency funds are strictly kept aside for emergency responses and are not tampered with foe any reason outside emergency situations.
So if you don't wish to give it the general name; discretionary income, you can specify it by Investment funds.