# \$18 an Hour is How Much a Year – And Other Salary Calculations

\$18 an hour is how much a year? Will it provide a reasonable standard of life to you? Know these and other answers in this post.

You want a quick answer to your question, ‘\$18 an hour is how much a year?’

The answer is \$37440 if you are talking about a full-time job and are getting paid for holidays. Unfortunately, the calculation isn’t that simple. And you also have to consider the hours you will work and the income tax you will pay. \$18 an hour is how much a year

Let’s break the figure down into daily, weekly, bi-weekly, and monthly amounts. We shall top up the information with cold, hard facts and some tips to improve your finances.

## \$18 an Hour is How Much a Year?

We have given the number for this question considering how many hours in a year given you are paid salary for holidays. If you receive salary for holidays also, your working and paid hours in a year stand at 2080. After calculating tax, this amount will stand at \$32,700 per year. \$18 an hour is how much a year.

If you aren’t getting the payment for the holiday, you will forgo 80 hours’ worth of pay making the gross pay only \$36,000. After paying the FICA tax, you will bring \$30,480 home. \$18 an hour is how much a year.

You may want to calculate the pay you will receive if you are working part-time at this hourly rate. Note that the number of hours varies from one part-time job to another. We shall use 4-hour workdays for these calculations in this post.\$18 an hour is how much a year.

If we consider a 4-hour workday in a part-time job, \$18 will translate into a gross pay of \$18,000 without holiday pay and \$18,720 for pay with holidays. The net amount will be \$15,240 and \$15,850, respectively. \$18 an hour is how much a year.

You can use the same numbers to know 20 dollars an hour is how much a year.

At the same time if you wanted to earn \$60,000 a year, you can determine how much is \$60k a year hourly to know how much to earn in an hour to achieve the income level you wanted. \$18 an hour is how much a year.

## How Much is \$18 an Hour per Week?

If you are at a day job, your primary goal for working is to make a living out of your job. So, it’s just natural that you want it at regular intervals like weekly or monthly. Here is what you will get if your employer is making the salary disbursements every week. \$18 an hour is how much a year.

For a full-time job, you will earn \$720 gross income with a take-home value of \$610. The part-time gross income will amount to \$360 letting you bring \$308 home. \$18 an hour is how much a year.

## How Much is \$18 an Hour Bi-Weekly?

In two weeks, you will earn \$1440 in gross income after giving your 80 hours in that duration. This value will translate into \$1219 in net income for the same period. The part-time salary will amount to \$720 gross and \$610 net. \$18 an hour is how much a year.

`Read More : 34 Best Affirmations For Money That Work Like Magic`

## How Much is \$18 an Hour Monthly?

Different months have different numbers of working days with most of them ranging between 19 and 23 working days. We shall take an average of 21 working days with a total of 168 hours in a month. Accordingly, the gross monthly salary will be \$3024 and after deducting FICA taxes, you will get \$2560 on your full-time job. \$18 an hour is how much a year.

For a part-time job, your gross paycheck will amount to \$1512 and you will bring \$1280 home. \$18 an hour is how much a year.

## Can You Live off \$18 an Hour?

If we go by this article on GoBankingRates, the lowest you would need to earn to live comfortably in any American state is \$51,218. This lowest living wage is only possible in Mississippi, by the way. Other states have higher costs of living. \$18 an hour is how much a year.

Compare it with the take-home pay of \$32,700 that is built from \$18 an hour every year and you will see the deficit you will be making each year.

But you should note that these stats take an average of living expenses incurred by residents of a certain state including all the extra obligations, healthcare costs, and splurges. \$18 an hour is how much a year.

In other words, if you don’t have lots of extra expenses to take care of and you can cut your budget to only include necessary expenses, you can make ends meet at this hourly rate. Don’t forget that even with strict budgeting, you will have to choose a location with lower rental costs to cut the largest expense on your income sheet. \$18 an hour is how much a year.

Note that this rate will not earn you an average quality of life. Forget vacation and include loans and sponsorships for educational and career growth. \$18 an hour is how much a year.

## Can You Save Money Making \$18 an Hour?

If you are sure about your budgeting skills and know that you would be able to make your ends meet at this wager rate, you would want to step up your financial game plan by including the element of saving and investing. But will your yearly – or monthly – income allow you such luxury?

If you are too careful and have no extra obligations, to begin with, expect meager savings at this rate. The highest I would expect you to save is 10% of your salary. \$18 an hour is how much a year.

If you supplement your income in some way, this percentage may go up a bit. \$18 an hour is how much a year.

## Can You Buy a House Making \$18 an Hour?

Statistics say that you wouldn’t be able to buy a house with this earning potential. The first part of the financing process – which is to obtain a mortgage – is the most difficult one. If you are coming with zero debt and an impeccable credit score, you may secure a mortgage but it will come with a huge down payment requirement.

In other words, you should have a significant savings net to start the purchase process. And even then the possibility depends on other factors like property prices, your debt-to-income ratio, and other obligations. As a rule of thumb, a debt-to-income ratio of more than 43% indicates a troubled financial position as this wage rate.

If you are living in a big city, you may see unaffordable property prices. But as you move towards smaller cities, your dream of owning a home may become a possibility.

Of course, you can’t expect an extravagant home in this budget. But go for a modest dwelling. Your home research process will be lengthy and you will have to start by searching those localities that have low property prices without compromising on the quality of living.

## How to Make Ends Meet on \$18 an Hour

The worst part of this wage rate is that with it, you are not allowed to make mistakes. Even small upgrades to your lifestyle will put a strain on your financial health. If you aren’t careful, you might end up with insurmountable debt.

You may experience a brighter side of this situation if you are starting with insignificant debt. Combine your right debt footing with proper budgeting skills and you will get by easily. Try to avoid debt as much as possible. A credit card is a big no-no at this point because of attached interest charges.

If taking out a loan is absolutely necessary, shop around to detect those credit providers that have the lowest interest rates and best credit terms. Keep the duration short and try to repay the loan as soon as possible.

Housing costs will make up the biggest part of your total expenditure. So, be mindful when committing to a house. Try to skimp on the space and structure if it means lower rental payments. Also, try to stick to your decision for years to come to minimize relocating costs.

If you are single, try to find roommates to keep the costs down. You can also make housing decisions collectively with your longstanding mates or partner. Committing to long-lasting relations is another way to keep costs down in the long run.

If you are living close to your parents, it’s a good idea to move back in and pitch in some cash in lieu of rent every month. Offer home maintenance services or others as part of the compensation to keep costs low.

Cut down on your eating-out budget and prepare dinner at home. Start planning your meals so nothing goes wasted. Choose filling foods that are also rich in nutritional value but are low on cost. Start packing lunch for your workday. It will not only help you keep impulsive purchases low but also helps you maintain health insurance premium. \$18 an hour is how much a year.

Carpool or public transport should be your prioritized commute methods to and from the office.

Never go shopping without a grocery list and only when it’s necessary. And try to schedule the grocery trip once or twice a month at most. Take time to prepare your grocery list so nothing is left out requiring another trip that may test your boundaries against impulsive shopping.

Keep an eye out for discounts, coupons, and giveaways.

## Ways to Make More Money If \$18 an Hour is Not Enough

Even if you try your best to keep the budget manageable, \$18 is a low hourly rate to make your ends meet. There will be some unplanned expenses that would threaten your budget once in a while. Creating and maintaining an emergency fund may appear a huge feat.

Don’t even think about saving for your retirement with this earning level.

If all you are earning in a year is \$37440, your dream to live a comfortable life will become just that – a dream unless you change this rate, add other streams of income, or increase the number of hours you work in a year.

Here are some ways you can increase your income to meet your expenses.

Ask for an appraisal. This should be the first option you should consider when faced with a dilemma of low wages and higher expenses.

Rent out extra rooms in your dwelling. Or get a roommate. Increase your working hours by taking up a part-time job on the side.

Become a home sitter. It will not only keep your housing costs down but also give you a space to live. But if you do so, take note to maintain a primary residence. That can be your parents’ home, your joint bachelor pad with your friends, or a friend’s couch.

Become a pet groomer. If you are passionate about pets, turn this passion into a regular stream of income. You may want to get training to offer professional grooming services, by the way.

You can also turn your love for animals into a viable pet training or pet sitting business. Deliver food and groceries.

Teach English online. Or enter the world of online freelancing in any other way. Some of the most sought-after services include graphic designing, video editing, coding, UX/UI designing, and voiceover.

In the online world, you can also develop virtual assets to monetize. Some of the easily scalable virtual assets include blogs, affiliate marketing websites, e-commerce stores, courses, and vlogs. The best way is to turn your hobby into money.

Increase your earning potential by advancing your education. \$\$18 an hour is how much a year the minimum wage that applies to those professions which don’t require much background qualification.

So, if the rate is low because you are stuck in a blue-collar job, you should reconsider your career path and go back to school. Remember it’s never too late to improve your living standards.

## Jobs That Pay \$18 an Hour

For most jobs that don’t require technical skills, \$18 is an average wage for entry- to mid-career level positions. Note that just like any other job; the minimum qualification required for these jobs is a high school diploma.

Some of these jobs will build on the experience in the industry. But you can get training to open more job opportunities for yourself or to minimize the possibility of getting laid off.
Here are a few jobs with a median pay of \$18 an hour is how much a year:

## Take Away

So, you are exploring your career options and have come across an \$18 an hour rate in some professions. Or maybe you are offered a job based on this rate. And now, you are concerned about your yearly financial healthy. A good start to understanding this income is by asking, ‘\$18 an hour is how much a year?’

The answer is simple and we’ve got you covered with dependable and effective budgeting tips as well.

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