One of the common questions is, ‘’$18 an hour is how much a year?’’ As $18 per hour is an average salary for many, we have decided to give you a clear idea of how much this income can make for you in a year.
We have also discussed the amount you earn after taxes and how much you can make by doing part-time and full-time jobs. Also, you will find some excellent and easy jobs that can help you earn $18 an hour.
$18 An Hour Is How Much A Year?
$18 an hour is $37,440 per year.
We already know that a year has 52 weeks. In general, you work 40 hours a week.
So, when we multiply the number of weeks (52) with the total working hours (40), we get 2,080. It is the number of hours you work in one year.
We multiply the average income per hour ($18) with the number of working hours in a year (2,080).
It means you earn $37,440 annually by working on a wage of $18 per hour.
Now, let’s discuss how much you can earn with an $18 per hour salary while doing full-time and part-time jobs.
$18 an Hour Part-Time Income
A part-time job means you work no more than 30 hours a week.
The hours worked might vary for different individuals. However, people doing part-time jobs work for at least 20-28 hours a week.
While working for 20 hours a week, you work for 1,040 hours a year. That means you can make $18,720 in one year.
Some people work 25 hours a week.
In that case, you work 1300 hours a year, which allows you to earn $23,400 in one year.
$18 an Hour Full-Time Income
Any person working more than 30 hours a week is doing a full-time job.
In general, full-time workers work for around 40 hours a week.
So, if we consider 30 hours a week, we will multiply it by 52 weeks, which makes one year. So, the answer is 1,560 hours a year.
We multiply the total number of hours worked per year with the per-hour income, which is $18.
It means you can earn $28,080 in one year by working 30 hours a week.
When talking about 40 hours a week, you make $37,440 yearly with an hourly rate of $18.
How Much Is $18 An Hour A Year After Taxes?
It’s important you learn about the difference between pre-tax and post-tax income
The following parameters will come into consideration while paying taxes:
- Healthcare
- Federal taxes
- Income tax
- Social security
The income tax is waived off in the cheapest states in the US. However, some states have a much higher income tax, which can make a drastic change in your overall budget.
All these taxes will require you to pay roughly 15% of your yearly income.
So, when working on a part-time income, you can make $20,473 a year after taxes. This amount is for people working 25 hours a week.
Similarly, a full-time job of 40 hours a week enables you to earn $31,769 every year after paying the taxes.
Related: 17 Frugal Living Tips To Save Loads of Money
How Much Is $18 An Hour A Month?
The total monthly income for people working on 18 dollars an hour will also be different for full-time and part-time workers.
Part-time
Part-time workers who work for 25 hours a week are working for 1300 hours in one year. When we divide this number by 12 months, we see that they work for 108 hours in a month.
Then, we multiply the number of hours worked in a month with the hourly income of $18.
The result is that $18 an hour makes around $1,944 a month for part-time workers.
Full-time
We also know that full-time workers work around 40 hours a week.
Considering this figure, we see that full-time workers work for 2,080 hours in a year. Now, we divide this value by 12 months. The result is 173 hours a month.
Now, multiplying the total hours worked in a month with the hourly income, we get the result that $18 an hour makes $3,114 a month for individuals doing full-time jobs.
If your working hours vary from the ones mentioned above, you can use our calculations to get your exact monthly income.
Related to budgeting: Rich vs Wealthy: What’s The Difference?
Can You Live Off $18 An Hour?
Whether you can live off 18 dollars an hour or not will depend on several factors like:
- Your monthly expenses
- Taxes
- Health and medical costs
- Transportation expenses
In general, one person can live off if he earns a full-time income of 18 dollars an hour. However, the increasing housing costs and expenses have led to the conclusion that earning $18 an hour is not enough to live.
Annual Median Personal Income in 2019 was $35,977
Source: http://www.uscensus.gov/
Despite the living costs, some other factors also come into consideration while figuring out the exact answer. For example, are you a college student wanting to live off $18 an hour with a part-time income, a 30-year-old married man with two children, or a retired employer?
The living expenses and budget will be different for all three types, and the answer will be yes for some while a big no for others!
According to recent surveys, people who want to live in popular cities need to earn more than $50,000 a year. It is because the housing costs are continuously rising in big cities, and the real estate value is reaching the sky with every passing day!
So, if you want to live off 18 dollars an hour, you might have to earn a full-time income to afford a modern lifestyle and maybe buy a house for yourself!
Also, you might need to move to a cheaper state with no income tax and decreased grocery costs. Such a strategy can help you live off 18 dollars an hour and afford the expenses of the whole family instead of an individual.
Related: What Does a Six Figure Salary Get You?
Jobs That Earn $18 An Hour
As $18 an hour is considered less wage to manage your budget, you can find such jobs with no prior experience or a university degree. However, you need to pass high school or have a diploma to be eligible for such jobs.
Here are a few jobs that can help you earn $18 an hour.
If budgeting is an issue for you, check out the best budget templates out there!
1. Mechanic
Becoming a mechanic will not require you to get a degree in mechanical engineering. In fact, you can set up a local garage or store to repair cars and motorcycles. However, you will need some general knowledge about various parts of such vehicles.
Working as a mechanic in a busy area will help you attract more customers and earn $18 an hour. As this job has no fixed timings, especially if you are running your own shop, you can do it part-time or full-time.
Average income per hour: $18.47
2. Healthcare Support Worker
Healthcare support workers usually work in clinics and hospitals. Their job includes looking after patients and taking records of their medications and meals. Besides, they also sterilize the surgery tools for doctors, collect, label, and store biological specimens.
This job will not require a professional degree because you will work under the supervision of professionals, like doctors, physicians, and nurses.
Average income per hour: $18.49
3. Optician
If you like going towards the healthcare sector, working as an optician will be the perfect choice to make $18 an hour. You only need a high school degree to qualify for this position.
As an optician, your job includes reading the prescription by the optometrist and recommending suitable frames and contact lens to the customers. You also help fit the frames according to the prescription and make sure the frame fits the customer’s needs.
Besides, becoming a licensed optician can help boost your income to at least $22 per hour.
Average income per hour: $17
4. Lawn Care Specialist
Lawn care specialists work in teams or individually to offer services to offices, homes, and government and private institutes. To work as a lawn care specialist, you must know about lawn equipment, tools, and the use of chemicals and pesticides.
However, too much qualification is not necessary for this field. A lawn care specialist looks after the lawn, mows grass, trims and cuts the shrubs and trees, plants new seeds and trees, applies fertilizers, and controls pests.
Average income per hour: $17.93
5. Quality Control Inspector
The job of a quality control inspector is quite suitable for students and other individuals without any higher education. It only involves checking the quality of the products being manufactured in different companies.
The quality control inspectors also perform tests to determine whether the products are up to the quality standards of the state.
Apart from that, they also examine the materials used in manufacturing products.
Average income per hour: $19
FAQ’s
$18 an hour is good. It puts you well above the poverty range, can afford living wages in some areas and there are plenty of jobs that don’t require a degree that pay $18/hr.
Your post tax income will be around $2,647 a month if you earn $18 an hour and work 40 hours a week. So in most states 18 dollars an hour is enough to live on.
If you have a good amount saved up, budget well and keep your debt to income ratio below 43% you can certainly afford to buy a modest home making $18 an hour and $37,400 a year.
$27 an hour is what you’ll make working time and a half with an original rate of $18 an hour.
$37,440 if you work full-time and $23,400 if you work part-time.
$8.65 an hour. Which is just barely over minimum wage as of today.
Final Thoughts
18 dollars an hour is $37,440 a year working full-time. Although you may not be able to afford a lavish lifestyle, this income is enough for individuals who don’t have too many expenses.
Besides, several jobs that help you make $18 an hour don’t require university degrees. So, most people can also opt for these jobs along with their high-paying full-time income sources.