If you earn 18 dollars an hour, how much will you make in a year? Will you be able to afford a house? Will it be enough to live comfortably?
It can be difficult to budget if you earn an hourly wage unless you annualize your income or at least calculate how much you will earn on a monthly basis.
Otherwise, how would you create and follow a budget? It’s important you know how much you can commit to expenses like housing, utilities, insurance, transportation, food, wants, and savings.
This post is the ultimate guide to making an hourly wage of $18 and how much you will earn per week, month, and year – before and after taxes.
I will also answer questions such as, “Is $18 an hour good money,” “What are jobs that pay $18+ an hour,” and much more.
18 Dollars an Hour is How Much a Year?
If you earn $18 an hour and work full-time (40 hours per week) for all 52 weeks in the year, you will make $37,440 per year before taxes.
How Much is $18 a Year Working Full-Time?
In the United States, working full-time is considered anything above 30 hours worked per week. However, the average full-time employee works 40 hours a week.
The answer below is based on a 40-hour workweek multiplied by the 52 weeks in a year.
If you work 40 hours per week, earning $18 an hour, you will earn an annual income of $37,440 before taxes.
40 hours per week multiplied by the 52 weeks in a year is 2,080 hours worked. If you then multiply 2,080 by $18, it will come to $37,440.
How Much is $18 a Year Working Part-Time?
If you work 30 hours or less per week, you are considered part-time. However, the average part-time employee works anywhere between 20-29 hours a week.
If you work 29 hours per week, earning $18 an hour, you will earn an annual income of $27,144 a year before taxes.
How Much is $18 a Year Working Half-Time?
If you work 20 hours per week, you are considered half-time.
With that being said, if you work 20 hours per week, making $18 an hour, you will earn $18,720 a year before taxes.
How Much is $18 a Year After Taxes?
If you make $37,440 a year, you will pay roughly 15.1% of your income in federal taxes, Medicare, and social security. However, you will pay more than 15.1% if you live in a state that collects income tax.
With that being said, your annual take-home pay will be approximately $31,770 if you work 40 hours per week (full-time) and roughly $20,475 if you work 25 hours per week (part-time).
Basic Sample Budget for Earning $18 an Hour
Take a look at the basic budget below to get a rough example of what a budget will look like making $18 an hour.
Keep in mind that for your budget, you will need to calculate your estimated take-home pay after taxes.
If you earn a monthly income of roughly $3,150 from an 18-dollar hourly wage, your estimated take-home pay is $2,542 after taxes (varies by paycheck deductions and the state you live).
How Much is $18 an Hour per Day?
If you work an average full-time 8-hour workday earning $18 an hour, you will make $144 a day.
How Much is $18 an Hour per Week?
If you work a full-time week for a total of 40 hours, you will earn $720.
Working a part-time week for a total of the 30-hour maximum will earn you $540.
If you work a half-time week for a total of 20 hours, you will earn $360.
How Much is $18 an Hour Bi-Weekly
If you work two full-time weeks for a total of 80 hours, you will earn $1,440.
Working two maximum part-time weeks for a total of 60 hours will earn you $1,080.
If you work two half-time weeks for a total of 40 hours, you will earn $720.
How Much is $18 an Hour Per Month
When calculating how much you will earn per month, keep in mind that a few months have more work hours than others, and some months have fewer work hours. However, if you take the average of the 12 months in a year, you will make:
$3,120 a month if you work full-time
$2,340 a month if you work part-time
$1,560 a month if you work half-time
Here is a quick summary of what earning $18 an hour looks like for the average person:
Is $18 an Hour Good Money?
Whether or not $18 an hour is good money and a living wage largely depends on your lifestyle and the area you live.
If you’re frugal, rent with roommates, share utility costs, keep food costs low, and live in an area with a low cost of living, you should earn enough to cover all your needs and even save approximately 10% of your income each month.
According to the United States Census Bureau, the estimated annual median personal income in 2019 was $35,977. Considering this, if you earn $37,440 annually, you are considered slightly above average in the United States.
Earning $37,440 a year also puts you well above the poverty level guidelines of $12,760 a year for a single individual.
Can you Afford to Buy a House Making $18 an Hour?
Whether or not you will be able to afford to buy a house making $18 an hour will also depend on several factors.
For example, do you:
- Follow a budget?
- Have a decent amount of savings?
- Have little to no debt?
- Live in an area with a low cost of living?
If so, then you most likely will be able to afford a very modest house making $37,400 a year.
However, if you:
- Struggle to stay on a budget
- Have little to no savings
- Have a lot of debt
- Live in an area with a high cost of living
You will not be able to afford to buy a house making $18 an hour.
Jobs That Pay $18+ an hour
You can find great jobs that earn an average of $18 an hour or more on the U.S. Bureau of Labor Statistics (BLS) Occupational Employment and Wage Statistics page.
According to the BLS, the vast majority of jobs that earn $18 an hour do not require formal education or prior experience.
However, to be considered for most of these jobs, you will need a high school diploma or a GED (general educational development).
You can also find jobs starting at $18 an hour and are currently hiring on Indeed.com.
Tips for living on $18 an Hour
- Commit to a budget
- Stay away from debt
- live on less than you earn
- Use public transportation
- Live with roommates
Here is a beginner’s guide to frugal living.
Ways to Make More Money
There are many ways to earn more money and increase your income:
- Ask for a raise: Asking for a raise is the most overlooked but simplest way to earn more money. If you’re going above and beyond at your job but haven’t received a raise, don’t be afraid to ask for the wage you deserve.
- Earn a promotion: Never be complacent with your job. Always work towards a higher position. Showing willingness and dedication to moving up the work ladder will almost certainly (but not always) lead to better-paying opportunities.
- Complete a certification program: In a wide variety of industries, you can complete programs or classes to improve your salary. These programs are typically cost-friendly and don’t require a large time commitment. Once you have received a certification, use it to show your employer that you are an expert in a given area and deserve to earn more.
- Go to school: This might be the most obvious way to earn more, but it also requires the most time, effort, and money. If you do decide to go to school, start at a community college. If you receive an associate’s degree, you’re sure to get a better salary. You can also consider going to a trade school. Earning a degree from a trade school will take less time and money than earning a degree from a college.
- Find ways to make money online: There are many ways to make money online. You can sell digital products, physical products, offer virtual services, sell things you already own but no longer use, or even watch video ads to earn money.
- Start a part-time side hustle: There are many different part-time side hustles you can take on. You can drive for Uber, dog-sit, clean houses, or just do any odd jobs you can find.
- Find a new job: Never be afraid to explore new job opportunities. You might find that getting a better job is easier than you think. You might also find a job with better benefits, such as health insurance, which adds to your overall salary.
How Much is 40k a Year Hourly?
If you work full-time (40 hours per week) and earn $40,000 a year, you will be earning an hourly wage of $19.23.
How Much is $35,000 a Year Per Hour?
If you work full-time (40 hours per week) and make $35,000 a year, you will earn $17.50 per hour.
Is $35,000 a Year a Good Salary?
According to the United States Census Bureau, the estimated annual median personal income in 2019 was $35,977. Considering this, if you earn $35,000 a year, you are just slightly below the average personal income.
What’s 50k a Year Hourly?
Assuming you work 40 hours per week (2,080 hours a year) and make $50,000, you will be earning $24.04 per hour.
How Much is 80k a Year Hourly?
Assuming you work 40 hours per week (2,080 hours a year) and make $80,000, you will be earing an hourly wage of $38.46.
How Much is 26 Dollars an Hour Annually?
Assuming you work 40 hours per week (2,080 hours a year), you will earn $54,080 per year in salary before taxes.
What Jobs Pay You $100 an Hour?
You can find jobs that pay an hourly wage of $100 or more on the U.S. Bureau of Labor Statistics (BLS) Occupational Employment and Wage Statistics page.
Is $100 an Hour Good?
Earning $100 an hour is very good. The median hourly wage in the U.S was $15.35 in 2019. Considering this, if you make $100 an hour, you would be earning more than six times what the average American worker makes.
How Much Tax Is Deducted From Hourly Wage?
The amount of tax deducted from your hourly wage depends on how much you make. To determine this, simply divide your total hours worked for your pay period by your gross wages to arrive at your hourly pay rate.
For example, a weekly gross wage of $961.54 divided by 40 hours comes to $24.04 per hour. Considering this, the amount of tax deducted would be based on earnings of $961.54 a week.
Final Thoughts on Earning $18 an Hour
If you earn $18 an hour and work full-time, you will make $37,440 a year before taxes, which is higher than the minimum wage and is sufficient to live in most places as long you’re frugal and do not have any dependents.
The majority of jobs that pay $18 an hour do not require formal education or prior experience but might require a high school diploma or a GED.
These jobs are typically in stable, high-growth industries such as health care, manufacturing, construction, and many technical fields. Many of them also have opportunities for career growth relative to increased education and training.