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1.
A more modern term for "disposable income", which is defined as, "Income (after taxes) that is available to you for saving or spending."

The term is commonly used to refer to the money young adults waste on needless things, like shutter shades, Nintendo Wiis, etc.
"I have enough money to pay my bills, I just need to pick up a couple extra hours so I can have some ringtone money for our trip to the West Palm Beach."
by BenSDC February 01, 2010