Disposable income is total income

Disposable income is total income less tax. Disposable income is the amount of income that an individual has available for spending or saving after taxes have been paid. It is calculated by subtracting taxes from an individual's total income. For example, if someone earns a total income of N100,000 per month and pays N20,000 in taxes, their disposable income would be N80,000 (N100,000 - N20,000). The concept of disposable income is important because it represents the amount of money that an individual has available to spend or save. It takes into account the impact of taxes on an individual's income, which can significantly reduce the amount of money that they have available for other purposes. In summary, disposable income is the amount of income that an individual has available for spending or saving after taxes have been paid, and it is calculated by subtracting taxes from an individual's total income.