# \$14 an Hour Is How Much A Year? [Is It a Good Pay?]

Wondering, \$14 an hour is how much a year?

While the Federal minimum wage remains at \$7.25 per hour despite rapid inflation since 2009, some states have notched up their minimum wages close to \$14 per hour since 2019 – which is quite a bit of a relief!

However, what matters the most is – what is your actual take-home yearly income after taxes for a 14-dollar-per-hour job.

Is \$14 an hour good pay? And, can you live off a \$14 hourly wage? In this article, we are going to discuss how much yearly salary you make working for \$14 per hour.

We’ll also explore some of the \$14 an hour jobs you might want to consider.

Don’t miss our salary calculator feature and the example budget for a 14-dollars-per-hour salary.

Let’s begin by looking at how much is \$14 dollars an hour annually.

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## \$14 An Hour Is How Much A Year?

Assuming you work the typical full-time job totaling 40 hours, your annual income working at a \$14 hourly rate is \$29, 120 a year before taxes.

To calculate ‘\$14 an hour is how much a year we multiply the \$14 hourly pay by the total number of hours you work in one year.

If you take an unpaid leave of 2 weeks, you will use 50 weeks in the calculations, instead of 52 weeks.

In this case, you will get paid \$28,000 which is derived from 40 hours x 50 weeks x \$14.

\$14/hour x 50 weeks x 40 hours = \$28,000 per year before taxes.

Let’s assume you are the average person working 40 hours a week and 52 weeks a year with a paid vacation, this equals 2080 hours (40 hours x 52 weeks).

Then you multiply 2080 hours by \$14 to get \$29,120 per year.

\$14/hour x 52 weeks x 40 hours = \$29,120 per year before taxes

## How Much Is 14 Dollars an Hour Yearly Salary After Taxes?

What you get from a \$14 hourly wage makes after taxes will differ depending on where you reside.

For instance, you will have to pay state income tax if you reside in a state that pays income tax on top of the federal income tax, social security, Medicare, and a host of other deductions.

To know how much of your income goes to taxes, you can use this income tax calculator.

As an example, a person who resides in New York, working full time and entitled to a paid vacation will pay about 17.9% of the annual salary in taxes. Their equivalent annual salary based on the hourly wage is \$23,920. Notably, the yearly salary may vary by state, marital status, overtime pay, and individual paycheck deductions.

17.9% (total tax) x 29,120 (Gross income)= \$23,920 after taxes

## How Much Is \$14 Hourly Wage Per Month?

And to know 14 dollars an hour is how much a month, we can divide \$29,120 (40 hours x 52 weeks x \$14) by 12 months, which equates to \$2,426 monthly income

\$29,120 per year/12 months = \$2,426 monthly before taxes.

This amounts to \$1993 monthly take-home after tax deductions totaling \$433.

## How Much Is \$14 Hourly Pay Bi-weekly?

As for your biweekly gross income, start by taking 40 hours per week multiplied by 2 to get 80 hours. Then, multiply the 80 hours worked by \$14 which gives you \$1,200 paid bi-weekly before taxes.

\$14/hr x \$80 hours = \$1,120 bi-weekly income before taxes.

That’s a \$920 take-home salary every two weeks.

## \$14 an Hour is How Much a Week?

To know how much is \$14 an hour a week, your \$14 hourly wage multiplied by 40 hours a week gives you \$560 per week.

14 dollars an hour 40 hours a week (\$14/hr x 40 hours) = \$560 per week before taxes.

Again, weighing in the taxes, you’ll get \$460 after taxes.

## How Much is \$14 an hour Per Day?

To arrive at this, you’ll have to multiply your \$14 hourly wage by the number of hours you work in a day. For a full-time worker, it is usually 8 hours.

\$14 x 8 = \$112 per day before taxes.

At \$14 pay, for an 8-hour workday, you’ll net \$92 a day.

## How Much is \$14 an hour Part-Time?

Part-time can be anything from 1 to 30 hours of work every week. Sometimes even more depending on the job and your availability.

For the purposes of giving you a sneak peek, we will use 25 hours in our calculations, assuming you work the entire 52 weeks of the year.

• 25 hrs x \$14 x 52 = \$18,200 per year
• \$18,200/12 = \$1517 per month
• \$25 x \$14 x 2 = \$700 bi-weekly
• \$25 x \$14 = \$350 weekly

## Is \$14 An Hour a Good Salary?

\$14 per hour is far from a good salary. It is actually way lower than what the average American is earning. According to the Bureau of Labor Statistics, the median weekly earnings of full-time workers were reported as \$1,041 in the second quarter of 2022.

This puts the median hourly wage at \$26 per hour. (\$1041 per week/40 hours = \$26 per hour). You would have to be earning above this to be making good money.

## Can You Live Off \$14 an Hour?

At 14 dollars an hour, it can be a challenge to make ends meet and truly thrive, based on where you live.

That’s not to say you can’t live off this salary. You might manage to make a living off \$14 dollars hourly wage especially if you live alone and reside in one of the cities with a low cost of living.

Still, you’ll have to observe a strict budget and if possible, take up a side job.

A report by CNBC puts the average daily spending for Americans at \$164.55 so you can see how the \$92 daily income fairs in comparison.

Want to estimate the cost of living in your area based on typical expenses? The MIT living wage calculator helps you determine a local wage rate to meet minimum standards of living. So, go ahead and check for yourself.

## Can You Buy a House Making \$14 an hour?

Probably not! For starters, it is hard enough to live off a \$14/hour wage left alone save for a down payment.

Should you get lucky and find another way to make a down payment, you would have to spare approximately \$700 to keep up with the monthly installments even in states where houses are cheapest.

This can, however, be possible if you have other streams of income say, a spouse or a side hustle. Now, If you’re searching for an affordable place to live, use our calculator to find out how much rent you can afford.

### How to Buy a House Making \$14 an hour?

• One of the first steps to buying a house while making \$14 an hour is to figure out what your monthly budget looks like.
• This can include looking at your current expenses and income, as well as any debts you may have. Once you have a good understanding of your finances, you can start to look at houses that fit within your budget.
• It’s also important to get pre-approved for a mortgage before you start shopping for a house. This will give you a good idea of how much money you can borrow and can help narrow down your search.
• When you’re ready to start viewing properties, it’s a good idea to work with a real estate agent who can help you find the right home within your budget.
• Consider, looking at cheap housing alternatives like manufactured homes, condos, trailers, multi-family homes, or tiny homes over a traditional single-family home.
• Owning a multi-family home would be a great opportunity to rent out the other unit(s) while your family lives in one of them.

## \$14 an Hour Jobs

There are many jobs that pay \$14 an hour without requiring any experience except that new employees go through training once they start working.

Most employers offering these types of wages do not require bachelor’s degrees either. You will usually only need a high school diploma.

So, if you are looking to make \$14 an hour or more, consider the following jobs:

Check out the post 21 Dollars an hour is how much a year? To see how the hourly wages compare.

## Tips to Live On \$14 an hour Wage

When living on a limited budget, it can be challenging to cover all of your expenses and still have enough left over for savings or other important items.

However, by following a few simple tips, it is possible to make your money stretch further and live comfortably on a 14-dollar-an-hour salary.

1. Create a budget and stick to it: This will help you to track your expenses and ensure that you are not overspending in any one area.
2. Follow simple frugal living habits.
3. Curb unnecessary expenditure: For example, if you eat out often, consider cooking at home more.
4. Prioritize paying off debts with higher interest rates at first.
5. Sign up for cashback offers to save on gas, merchandise, food, etc.

## Sample Budget for \$14 an Hour

Here’s a typical budget for an individual making \$14 an hour, taking the above-estimated monthly take-home pay of \$1,993 into consideration:

Want to put it down on paper so you can keep track? Explore these free printable budget templates.

## \$14 an Hour: Bottom Line

Now that you already know what it means to earn 14 per hour and are familiar with jobs that pay that much, what’s your next step? Start saving money and learn to live on a low income!

Before you can get a better-paying job, taking the above actions can help you manage a \$14 per hour wage better because no salary is a good salary without good financial management.