Discretionary income is the amount of money we have left over after paying for the

necessities such as housing, food, and bills. It’s the money we have that we can choose to
spend on things that aren’t essential, but that we enjoy. Within this assignment, the prompt
was how I would spend my discretionary income. Although there are many wants and needs I
would like to have and do, I have a prioritized list. In my case, I would choose to spend my
discretionary income on traveling, investing, and giving to charity. Firstly, traveling is an
amazing way to experience new cultures and meet new people. It broadens our horizons and
helps us to learn about the world around us. Secondly, investing my discretionary income
would allow me to grow my wealth and plan for my financial future. Finally, giving to charity is
a great way to make a difference in the world and help those less fortunate than ourselves.

When it comes to traveling, I would love to visit new places and experience different
cultures. I would use my discretionary income to save up for a trip to Japan, where I could
explore the beautiful scenery, taste new foods, and learn about the rich history and culture of
the country. The experience would be one that would stay with me for a lifetime. While living
in Vietnam, investing in a trip to Japan wouldn’t be all that difficult- especially with a mother
who works in the United States. However, knowing me, I would spend a bucket load of money
shopping. Even so, if I save up bit by bit, I would be able to afford much of what I liked, if not
all.

Secondly, investing my discretionary income would also be a wise choice, as it would allow
me to grow my wealth and prepare for my future. I would invest my money in stocks and
shares, as well as in a retirement fund. This would help me to plan for my financial future and
ensure that I have enough money to live comfortably in my later years. Although investing too
little in my future is frowned upon in older societies, I believe that I’d like to enjoy my
youthful years just as much, if not more than my older years. Even so, having a fall-back
amount of income to use is just as important. My father always taught me to “save money for
a rainy day”, and I live by that philosophy. Having a stable income to use when unexpected
circumstances occur, such as the pandemic, saved my family from going broke. The pandemic
changed my outlook on income and investing.

Finally, giving to charity is something that is close to my heart. Growing up in a small town in
Michigan, about 15 minutes away from Detroit, I saw the travesties of how living in the streets
affected people. My parents worked in Detroit, so I spent 2 hours a day wandering the streets
there, waiting for my parents to switch shifts so I could go home. Being a child and wandering
the streets was dangerous, and led me to encounter some people who need help. Even so,
this also led me to find some of the sweetest, most kind-hearted souls, who have so much
potential and opportunity and promise. Though I have no way of keeping in contact with them
anymore, I hope that when, and IF i move back to Michigan, I find them doing far better than
they were when I had known them. Overall, charity would allow me to give back to my
community and help those who are less fortunate than myself.

In conclusion, discretionary income is a valuable resource that can be used in many

different ways. By traveling, investing, and giving to charity, I would be able to use my
discretionary income to enrich my life and the lives of those around me. It’s important to
remember that while discretionary income may not be essential, it can still be used to make a
positive impact on the world. Not to mention, if I really wanted to treat myself, I could just
splurge on a fancy meal. After all, self-care is just as important as caring for the world around
me.