# 14 Dollars an Hour Is How Much A Year? Is \$14 An Hour a Good Pay?

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Wondering, 14 dollars 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 bumped 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 after taxes for a \$14 an hour job? Is \$14 an hour a good salary? And, can you live off a \$14 an hour salary?

In this article, we are going to discuss how much \$14 per hour gets you yearly, And, some of the \$14 an hour jobs you might want to consider. Don’t miss out on our salary calculator feature and the example budget for a \$14 an hour salary.

Answers to these questions will help you budget and ensure that your bills and debts are settled on time. This way, you will be able to save for a vacation, retirement, or even a mortgage.

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

## 14 Dollars An Hour Is How Much A Year?

For a 40-hr workweek, the annual pay for an individual with a \$14 hourly wage is \$31,200 a year before taxes.

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

In the USA, a full-time employee works for 40 hours. And, if you take an unpaid leave of 2 weeks, you will factor 50 weeks into the calculations, instead of 52 weeks.

Let’s assume you are working for 40 hours a week, for 50 weeks a year, which equates to 2080 hours (40 hours x 52 weeks). Then you multiply 2080 hours by \$14 to get \$31,200 per year.

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

However, with the 2 weeks’ vacation, you will get paid \$30,000 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.

## How Much is 14 Dollars an Hour After Taxes?

What you get from a \$14 an hour gig after taxes will differ depending on where you reside.

For instance, you’ll have to pay federal income tax on top of the state income tax, social security, medicare, and a host of other deductions. To know how much of your income goes to taxes, you can turn to online tax calculators.

Typically, if you earn \$14 an hour, paying 18.4% in taxes (varies by state and paycheck deductions), your annual take-home is \$23,762.

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

And to know, 14 dollars an hour is how much a month, you will have to divide \$29,120 (40 hours x 52 weeks x \$14) by 12 months, which equates to \$2,426 per month.

\$31,200 per year/12 months = \$2,426 monthly before taxes.

This amounts to \$1980 monthly take-home after taxes.

## How Much is \$14 an hour Bi-weekly?

As for your biweekly pay, start by taking 40 hours per week multiplied by 2 to get 80 hours. Then, multiply 80 hours by \$14 per hour which gives you \$1,200 biweekly before taxes.

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

That’s, a \$914 take home every other week.

## \$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 \$600 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 pocket \$456 weekly.

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

To arrive at this, you’ll have to divide your \$600 weekly pay by the number of working days in a week.

\$560 per week/5 days = \$112 per day before taxes.

At a \$14 pay, for an 8-hour workday, you’ll net \$91 a day.

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

According to BLS, the median weekly earnings of full-time workers were reported as \$1,037 in the first quarter of 2022. (\$1037 per week/40 hours = \$25.9 per hour). So, the above \$14 hourly rate, however, is lower than 2022’s first-quarter median weekly rate.

## 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. Most people can manage making \$14 dollars an hour but to do so you’ll have to observe a strict budget, take up a side job, or move to a city with a low cost of living

As per a report by CNBC, for the older generation, you need to make at least \$165 daily to cover everything from groceries to housing, while your daily take-home is just \$91.

So, \$14 an hour works best for a single person under the age of 25 who can cost-share expenses with a roommate. Well, if nobody depends on you, \$14 per hour is not a bad rate.

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, ahead and check for yourself.

Note that the above estimate is for an individual so, to care for a family you need to make more than \$14 an hour.

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

Especially given the rising costs of living and housing in many major cities, it is extremely difficult for most people to get by on 14 an hour.

Moreover, it’s not easy to save for a down payment while renting and making a living off a \$14 pay. And you might have a harder time keeping your debt-to-income ratio and credit score pristine.

As per HSH, you would need to make at least \$20 an hour (40,775 annually) to buy a home in the US.

### 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 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.

## Jobs That Pay \$14 an Hour

There are many jobs out there that pay \$14 an hour without requiring any experience and just ask new employees to 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:

## 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 based on the 70-20-10 budget rule – wherein you spend 70% of your after-tax pay on needs, 20% on wants, and 10% on savings or paying off debt.

Taking the above-estimated monthly take-home pay of \$2,426 into consideration:

## \$14 an Hour: Bottom Line

Now that you already know what jobs pay 14 an hour, how about you start sending out applications ASAP!

Nowadays many people pick up additional jobs along with their 9-5 job just to boost their earnings slightly higher (sometimes significantly).

I would also recommend you pick up a side hustle making fifty bucks a day to supplement your earnings. The extra cash will also be handy in offsetting your taxes.

So, that’s it, guys. What do you think about getting paid \$14 an hour?