$18 An Hour Is How Much A Year?
Have you been offered a job paying $18 per hour?
It can often be difficult to figure out how much you will actually be receiving each paycheck when you’ve just been quoted how much it is per hour.
This article will look at how much 18 dollars a year is and determine if $18 an hour is a good paying salary.
We are going to see if it’s possible to live off $18 an hour and still live your life to the fullest!
Let’s take a look:
Can I Live Off $18 Per hour?
It’s really important to make sure that you can live off $18 per hour before applying for or accepting any job roles with that salary.
The last thing you want to do is accept a job at a specific pay rate and then realize that it isn’t enough to pay your bills.
You will need to figure out how much you will be getting in your bank account by looking at how many hours you’ll be working and multiplying that by the $18 you will be making hourly.
Is it possible to live comfortably at $18 an hour?
Whether it is possible to live comfortably or not when you earn $18 an hour depends on your bills and the area in which you live.
It also depends on what you take “living comfortably” to mean; for some of us, that may mean living quite an affluent lifestyle, whereas, for others, this could be being able to pay their bills easily and having money for occasional treats.
A study done by Smart Asset showed that the average salary needed across the largest states was $57,013 after taxes. The area which would find it easier to achieve comfort would be St Louis, with an average salary of $46,864 after tax.
Further on in this article, we look into how much $18 an hour is annually and whether or not it is far from even the St Louis salary needs.
This means that, on the surface, $18 an hour doesn’t look like it’s enough to live comfortably. But it’s important to remember that everyone is different and has different lifestyles.
If you don’t have any debt, your salary won’t need to be any higher, and vice versa.
That’s why it’s important to look at how much you personally need to live comfortably and base your necessary salary on that.
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Is 18 An Hour Good Pay?
According to Indeed.com, the average hourly pay in the U.S. is $29.81. This means that $18 per hour is much less than that.
However, 18 dollars an hour can be a decent amount you earn as a newbie when you start working.
But it’s important to remember that your starting salary doesn’t mean you need to stick with that salary forever, and you should be looking to increase it.
That said, going back to the average hourly pay, it makes $18 look pretty bad! So we wouldn’t say it’s great pay, but it’s a good place to start.
Want to make more money? Here is how you can make 100 dollars a day!
How Much Is 18 Dollars An Hour Daily?
If you are wondering how much $18 an hour would be daily, you must figure out how many hours you will be working and then multiply that by $18. Don’t forget that this is the amount before tax.
18 Dollars An Hour Is How Much A Week?
Eighteen dollars an hour is how much a week? To work out how much $18 an hour is per week, you simply need to calculate how many hours per week you will be working and multiply that by $18.
18 Dollars An Hour Is How Much A Month?
It’s important to know how much you will be getting paid each month, as you need to know how much you will be living on and what you can use for your bills.
To figure out how much you make a month. You take your hours worked that month and multiply it by $18. Or if you know your annual salary, you can divide that by 12.
18 Dollars An Hour Is How Much A Year?
So, 18 dollars an hour is how much a year? We’ve worked out that it is $37,440 per year before taxes.
There are many salary calculators out there, but we came to this sum by basing it on a 40-hour work week. You’ll have a different yearly salary if you work different hours into this.
To get to the annual rate, you can do 40 hours per week multiplied by 52 weeks in a year, and then multiply by $18 an hour.
This is based on working a full-time work week. If you work more or less than 40 hours per week, you will simply need to work out how many hours a week and multiply $18 by these hours.
How much is 18 dollars an hour annually part-time?
Part-time hours vary, but they are often around 25 hours per week. To work out how much you will be paid annually part-time, you simply need to do the same equation as above but adjust for the number of hours that you will be working.
For example, if you are going to be working 25 hours per week, this works out to $23,400 annually.
$18 An Hour Is How Much A Year After Taxes?
While it’s important to figure out how much you will be earning per year, you need to know how much it’s going to be once you’ve paid your taxes, so you can see the real figure that will be landing in your bank account.
After all, it doesn’t matter what your salary is; you need to know the amount you will be paid.
The amount that you will pay in taxes will vary depending on which state you live in. Generally, you will likely pay 15.1% of your income into taxes (including social security and healthcare).
This means that earning $37,440 per year after taxes will work out to about $31,769.
Comparison table of $18 an hour (before & after taxes)
|$18 An Hour||Pretax Income||After-Tax Income|
|Yearly (52 Weeks)||$37,440||$31,769|
|Monthly (160 Hours)||$2,880||$2,446|
|Biweekly (80 Hours)||$1,440||$1,223|
|Weekly (40 Hours)||$720||$612|
|Daily (8 Hours)||$144||$122|
|Hourly (1 Hour)||$18||$15|
Sample Budget For $18 An Hour
It’s all good to say that you can live off $18 an hour, but it always helps to look at examples.
Let’s look at a sample budget for someone on $18 an hour:
-Mortgage/Rent – $1000
-Utilities – $200
-Transport – $300
-Groceries – $450
-Fun – $200
-Savings – $100
This budget is based on someone who earns $2,446 per month (after taxes).
It’s important to note that everyone has different expenses and lifestyles and that this is just a budget for you to get an idea of how it would work.
Tips To Live On $18 An Hour
If you are going to live on a low wage (which $18 an hour is), then you will need to carefully plan your expenses to ensure you are living a decent quality of life.
We suggest going through your expenses and seeing if you can reduce them.
Here are some ways that you could do that:
- Mortgage – House hacking is a popular method of saving money in the U.S., where you can live in one part of the house and then rent out the rest.
- Utilities – It goes without saying, but using less energy will lead to lower bills. This is where you can look at which appliances use the most energy and cut back on those, for example, using the microwave instead of the oven and having shorter showers.
- Transport – Is public transport a possibility? Could you car share?
- Groceries – This is where planning and organization will save you a lot of money. Write out all of the different types of meals that you eat, including snacks. Then make a grocery list based on these – and stick to it.
How Can I Increase My Hourly Wage?
Find alternative ways to make money
The great thing about our time is that there are so many easy ways to make money from home! All you need is a Wifi connection and the drive to succeed.
Here are some of our favorite ways of making money:
- Starting a blog
- Freelance writing
- Online tutoring
- Pinterest VA
- Taking online surveys
- Take pictures with your phone
- Get paid to workout
Earn passive income
Something that we feel society doesn’t talk about enough is passive income. Or, if it is talked about, it’s usually something to do with having your laptop on a beach while you sip on a cocktail.
In reality, passive income is something you put a lot of work into on the front side. You eventually set it up, so you are continuously being paid without having to work on it actively.
For example, you could put a lot of work into a business and outsource it while you sit back and still take the income.
Here are some great ideas for passive income:
- Investing and getting paid out dividends
- Create an online course
- Sell eBooks
- Rent out a parking space
- Start a Youtube channel
- Invest in real estate
- Open an Airbnb
Passive income is great to aim for because you aren’t trading your time for your money. For example, if you get paid $10 an hour and want to get to $100, you know that you will have to work 10 hours.
With passive income for example, if you create a product that you sell for $10, you need to sell 10 of these to reach $100, but you don’t need to spend 10 hours on it as per the previous example.
Ask for a raise
One of the easiest ways to get more money in your pocket is to ask for a raise. After all, if you can get paid more for doing the same thing you’re already doing, why wouldn’t you?
When thinking about earning extra money, we often think about doing a side hustle or an additional job, but it’s a good idea to start with what you’re already doing.
Find a new job
Alternatively, if you cannot get a raise in your current role, maybe you need to consider looking for another, higher-paid job.
We know that it’s one of those things that sound easier said than done, but don’t let the fear of starting something new stop you.
Jobs That Earn $18 An Hour
Many jobs offer $18 an hour if your current role doesn’t give you a raise. Maybe it’s time for a career change.
Let’s take a look at some jobs where you can earn $18 an hour:
- Animal Control Worker
- Camera Repair Tech
- Machine Setter
- Healthcare Support Worker
- Quality Control Inspector
- Motorbike Mechanic
- Collections Representative
- Delivery jobs
- Amazon Warehouse worker
Related article: 45 Dollars An Hour Is How Much A Year?
Final Thoughts: 18 Dollars An Hour Is How Much A Year?
If you have been thinking about accepting a job offering $18 an hour, we hope this article has helped you see how much you will be getting and how you can use that money.
You can see if you can afford to live on that amount with your lifestyle or if you will need to earn more money, whether that’s by landing a higher-paying job or taking on a side hustle.
How much do you earn at your job per hour? And is it working for you? Let us know!
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