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When one roommate claims a specific ringtone and forbids other roommates from using that same ringtone.
"It sucks because I just got a new iPhone and my roommate has ringtone dibs on the only hip ringtone>'
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."
Changing your ringtone.
Lacy to her tinder match “Sorry, I’m late. I was changing my ringtone.”
The act of bleaching your bunghole.
"Baby, it don't look good back here. You might wanna change your ringtone".