Quick Answer: Can You Live Off Of 16 Dollars An Hour?

What is the lowest salary you can live on

This popular general budgeting rule allocates 50% of annual income to necessities like housing, 30% to discretionary expenses like travel, and the remaining 20% to savings.

The median necessary living wage across the entire US is $67,690.

The state with the lowest annual living wage is Mississippi, with $58,321..

Is 16 dollars an hour good money

A job at $16/hr for 40 hrs/wk will at best net you $32,000 pre tax dollars. In reality it’s likely lower as hourly employees rarely work the equivalent of 52 full time weeks per year.

What salary is 16 dollars an hour

about $33,280 per yearAssuming 40 hours a week, that equals 2,080 hours in a year. Your hourly wage of 16 dollars would end up being about $33,280 per year in salary.

Is 16 dollars an hour bad

16/hr is fine. I’ve lived with less and had my own room for 550/month.

Is $40 an hour good

A $40-per-hour job provides an annual income of around $83,200. Not bad at all. … Look at healthcare and IT jobs. You’ll likely need a degree and a good amount of training to get hired.

Is $15 an hour a livable wage

A $15 hourly pay scale would more than double the current $7.25 federal minimum wage. It still wouldn’t offer a living wage to low-paid single adults and families in many areas, according to a CNBC analysis of state cost-of-living data.

What is a comfortable salary for a family of 4

Yes, a family of 4 can live on 100k per year. The average household income in the United States is approximately 73k according to the US Census Bureau. At this income level you would have to commute rather than live in the most expensive cities such as Boston, San Francisco, and Manhattan.

Is 50k a good salary in California

50,000 a year is fine, and most people would say more than fine. I used to make 30,000 in the bay area and it was fun, but I had to be very conservative.

Can you live off of $16 an hour

$16/hr is about 33k/yr and I’ve estimated that I need about 40k/yr to live where I do alone. A lot of people are living on $16 an hour, or even a lot less. A good truck driver with a clean driving record can make a lot more than $16 an hour. He has the potential to graduate to a better paying job later on.

Is 18 hr a good salary

If you work 40-hours a week at $18 an hour, you’ll gross $3120 per month. You’ll take home (net) around $2,647 a month if you earn $18 an hour and work 40 hours a week. Working part-time (25 hours a week) making $18 an hour, you’ll gross $1,950 a month and take home (net) about $1,706 a month.

Is $30 an hour good

To someone who just graduated highscool or even college, a $30 an hour full time position would be a good (possibly great) salary. To an individual with 20 years of experience and multiple advanced degrees, $30 an hour would likely be far below market value.

Is 17 hr a good salary

$17 per hour is actually a good salary in most of the USA. There are larger cities where this would not be the case such as NYC, LA or Seattle, among others. This is more than double the minimum wage in most places in the US.