No secrets, we like to imagine and feel the future. We do it through our minds. Our desires wishes and hopes, most of these facts rely on the bank account numbers we have. Because of this, we dream about having lots and lots of money in our hands.
Additional reading: 05 important money tips which millionaires really concerned about.
Here, we do not have limits. As you know our mind can travel anywhere without boundaries. “what I can do to make millions of money after a year?”. This would be a very common self-questionnaire a simple man could have. Today we hope to give you the calculations about the numbers inside your mind.
* How much is 15$ per hour after one year.
* How much is 15$ per hour after six months.
* How much is 15$ per hour after one month.
* How much is 15$ per hour after one week.
* How much is 15$ per hour at the end of the day.
I hope to discuss under above main topics. In addition to that, in the end, I will provide you with the most efficient money-saving tips. It is not easy to become a money savior. You have to try hard right. But trying hard would be worth it in many ways.
What we are going to discuss here?
As I said above we are here to discuss making money. If you have the capacity to make 15$ per hour, what could be your income at the end of the day, after a week, after a month, and after one year.
Other than this I hope to add some most important personal finance tips related to making money and spending what we earned.
Usually, we have to do the math including taxes as well. The normal tax ratio is between 16% – 19%. I will include it to show you the amount of money you gain after one year when tax is included.
Common assumptions to take going forward.
I have to consider and follow some common assumptions to make this conversation simple. Below are the ones I follow.
* A person having a day job who earns 15$ per hour.
* The person works 8 hours a day.
* Income tax ratio in between 16% – 19%.
* The person works 5 days a week and it becomes 22 days per month.
So I have to make the above assumptions as I need to make this more simple. If not I will not able to finish this discussion within this lifetime, HaHa. So let’s jump on to the topics.
How much is 15$ per hour after one year?
Now we are going to do some math. I strongly believe that you would love it. Lol.
Total after one year if you earn 15$ per hour = $31,200
If we see how this came. Typical working hours per week may be around 40 hours. As we know there are 52 weeks a year. So after all,
Total after one year = Number of hours a year x Wage per hour.
Total after one year if you earn 15$ per hour = 2080 X 15 = $31,200 .
In the end, you will see, that 15$ per hour can make $31,200 per year. If we have to consider income tax deduction, like in between 16% – 19%. Then you will bring home an amount of around $25,000 to $28,000.
Always try to know tax amounts via authorized personals of your area. It could be helpful, not to get any legal actions but to be aware of your earnings and spending. Finally, we have the annual withdrawal as $31,200 without tax deductions.
How much is 15$ per hour after six months?
The math is very simple. I will continue the total earnings from here onwards, without deducting the taxes.
Total after six months = Total income after one year / 2 = $31,200 / 2 = $ 15,600 .
Six months means half of a year. So all you have to do is divide that total you received per year by 2. There you get $15,600. So that is the amount you gain after six months.
How much is 15$ per hour after one month?
Easy maths right? You can do many things to get the final result. From those, I will choose to calculate the final using hours. So as per the equation,
Total after one month = Total income after one year / 12 = $31,200 / 12 = $ 2,600.
Above you can see the normal equation. But you have an option. Specially I have to say that, If you use this second method you can get the exact amount considering the total working days per month. According to that equation,
Total income after a month = 15$ X Total working hours per month = $ 15 X 176 ( assuming 22 days work = $2,640.
Likewise, you can do your own math to get the final numbers.
How much is 15$ per hour after one week?.
A very simple theory to apply here as well. The amount you gain at the end of a week should know in order to make the early morning budget possible. This could help you to make the monthly budget planner format if you are a budget tracker. Let’s do the math,
Total income after one week = $15 X working hours per week. = $15 X 40 = $ 600.
I think it is really very simple. No need for any extra calculations this math is simple mate. So by this way, you will know how much you can earn at the end of a week. Also, keep in your mind, still, we are talking about $15 per hour.
How much is 15$ per hour at the end of the day?.
Gradually we have come to the small unit. How much at the end of the day. No doubt that this is no math. However, my job here is to drag it till the end. So let’s have a look at the end of the day.
At the end of the day = $15 X Number of working hours a day. = $15 X 8 = $120.
So $120 at the end of the day from your daily work. Looks like a little reasonable and effective earning. Now let’s move to the other topics of the discussion.
Is it worth having $15 per hour?.
I personally think it is better to have $15 to handle the monthly circling budget. It looks like a nicer wage to have and it is 100% reliable for an individual as well as for a family.
If we take a month you will have $ 2,600 as above math. The thing you can do with that money is the measurement to measure the effectiveness of $15 per hour. Below are some common perspectives on how you can compare whether $15 per hour is enough or not.
* Amount of debt pay-offs you have.
* Number of dependents under you.
* Amounts for your monthly entertainments and vacation trips.
* Medical expenses which are a must.
* Transport expenses as you need them.
* Bill payment variations like electricity, gas, and water.
Measure it. If the above expectations can be filled that means you should satisfy. Apart from the above keep a marginal percentage for savings as well as for investments. Then we call it a perfect monthly income.
What are the job opportunities to earn $15 per hour?.
It is really important to know the job market with their wages capacities. So we have found some job opportunities which provide $15 per hour. If you currently doing such a job or searching for such a job would be fine with your needs.
* Dental assist.
* Mail handler.
* Baby sitter
* Medical assistant.
* Construction worker.
* Customer service clerk.
Above are some job opportunities within the above-mentioned range. As I reckon, that amount above is a better number for an individual to live even with his or her family.
How to save money even within this $15 per hour range?.
Becoming a money savor is not easy on the other hand not so difficult as well. But a very important thing to do if only you need financial freedom. A person has 05 main expense categories involved. Food, transport, clothing, shelter, and medical. I can give you one tip away from each of these categories to make you a savior.
* Take homemade food more than restaurant food and dinner outs.
* Use public transport other than using private. It can save you money.
* Use simple clothing styles to match your budget.
* Rent out your spare rooms to have an extra income.
* Get medical precautions in order to not fall up on medical expenses.
Above are some money-saving tips to make you the one person you want to be. If you are more interested in saving money you can read How to save $10,000 within six months to get some extra knowledge.
What you can do to bounce up that $15 per hour earning range?.
We all like to become millionaires and billionaires but the real truth is we have to dedicate more and more to that. Most lads among us give up their dreams in the middle because they have to feed a family. They adapt to live simple lives but are happier with their family. If any teenager wants to boost their income a little bit up try below top high-ranked skills to learn to make money.
* Blogging (Guess the effectiveness of starting a blog)
* Graphics designing skills. ( what I do to earn money as a graphic designer).
* Website development.
* Investing in real estate. (Real estate investing for beginners).
* Fashion designing. ( most profitable fashion side hustles)
* Language and translation skills.
* mobile app development.
* Farming and gardening.
Above 10 has been identified as high rage earning skills in 2022. If you feel like $15 per hour is nothing, then turn yourself on with one of the above skills. It is definite to have a lot more than $15 per hour with the time.
I mentioned here “with the time”. It will take more time, dedication, and passion to make money using those skills. I will not recommend giving up your day job and to get such a risk especially if you are a family man or woman. But there are some skills to continue as a side hustle like blogging ( How to use blogging as a side hustle).
I think you got the idea which I wanted. My final thoughts are that I think $15 per hour is better with the hand personal finance. But not to play around like a king. Just enough to roll your expenses, entertainment, savings, and even investing.
You might have a different opinion about things. Our readers would love to hear them as well.
Personal finance is an interesting subject to involve. I think your passion for this subject can definitely make you the financial independence which you want to become. Wish to have a good life with your personal finance. Love to hear from you as well in the comment section.
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I like the way you broke this down. It was easy to follow your train of thought and start thinking about money which many people don’t really like. You made that process simple. From here, people can think of budgeting and adjusting their earnings/expenses. Thank you for sharing!
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