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leeway

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The definition of leeway is the amount of freedom that you have to do something or to deviate in some manner.

(noun)

When you are free to wear anything you want to work, this is an example of a situation where there is a lot of leeway in the dress code.
When you have a lot of money in the bank, this is an example of a situation where you have financial leeway in case something goes wrong.

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See leeway in Webster's New World College Dictionary

noun

the leeward drift of a ship or aircraft from the course being steered
Informal
1. margin of time, money, etc.
2. room for freedom of action

See leeway in American Heritage Dictionary 4

noun

The drift of a ship or an aircraft to leeward of the course being steered.
A margin of freedom or variation, as of activity, time, or expenditure; latitude. See Synonyms at room.

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