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## How Much Is **40 Dollars** An Hour Per Year?

To calculate how much you will get paid per year, let’s assume you work 52 weeks of the year (with 2 weeks paid time off). If you are working a full-time job, you will be working 40 hours per week on average.

40 hours multiplied by 52 weeks is **2,080 working hours in a year.**

**$40 **per hour multiplied by 2,080 working hours per year is an annual income of **$83,200 per year.**

## Simple Tools To Live On $40 An Hour

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## Calculate Another Hourly Rate?

## What If You Don’t Get Paid Time Off?

If you don’t get paid vacation, let’s assuming you are working 50 weeks of the year (with 2 weeks unpaid time off). And we’ll assume you work an average of 40 hours per week.

40 hours multiplied by 50 weeks is **2,000 working hours in a year**.

Now simply multiply your hourly rate by the number of working hours in the year.

**$40 **per hour multiplied by 2,000 working hours per year is an annual income of **$80,000 per year.**

## How Many Working Days Are In A Year (**2020**)?

For a more accurate calculation, you can calculate EXACTLY how many working days are in the year.

For the year **2020**, it’s a leap year, so there are **366 days in the year**. Here’s how the days break down:

- 262 Weekdays
- 104 Weekend Days (woohoo!)

Assuming your are working each weekday, 8 hours per day, here is how many hours you will work:

262 work days multiplied by 8 hours per day is **2,096 working hours in 2020**

**$40 **an hour multiplied by 2,096 working hours is **$83,840 income per year**

**This does not include any overtime hours worked*

## How Much Is **$**40 An Hour Per Month?

If you want to see how much **$40 **an hour is a month, we need to know how many working hours there are in a month.

If we divide the total working hours in a year by 12 (months), we can see how many working hours are in a month.

**2,096 hours a year** divided by 12 is about **175 working hours per month** on average.

So to calculate your monthly income, see below:

**$40 **an hour multiplied by **175 hours** per month is **$7,000 per month income **on average.

## How Much Is **$**40 An Hour Per Week?

If you want to break it out by week, let’s assume your working a normal 40-hour week.

So to calculate your weekly income, see below:

**$40 **an hour multiplied by 40 hours per week is **$1,600 per week income.**

## How Much Is **$**40 An Hour Per Day?

Let’s see how much you can make per day on **$40 **an hour. Assuming you are working a typical 8-hour workday, here’s the answer:

**$40 **an hour multiplied by 8 hours per day is **$320 per day income**.

## Comparison Table Of $40 An Hour

$40 An Hour | Total Income |
---|---|

Yearly (52 weeks) | $83,200 |

Yearly (50 weeks) | $80,000 |

Yearly (262 Work Days) | $83,840 |

Monthly (175 Hours) | $7,000 |

Weekly (40 Hours) | $1,600 |

Daily (8 Hours) | $320 |

Monthly Take Home (175 Hours) | $5,227 |

## Example Budget For **$**40 Per Hour

Now that you know how much you can make per year, per month and weekly, let’s see how a typical budget can look making **$40 **per hour.

Remember, for your budget, you need to calculate the estimated take-home pay.

Taking the **$40 **an hour monthly income of **$7,000**, minus taxes, the estimated take home pay is **$5,227 **(varies by state and paycheck deductions)

Sample Monthly Budget For **$40 **An Hour:

Category | Budget | Percentage |
---|---|---|

Income | $5,227 | |

Giving | $523 | 10% |

Saving | $523 | 10% |

Food | $784 | 15% |

Utilities | $314 | 6% |

Housing Costs | $1,568 | 30% |

Transportation | $366 | 7% |

Health | $261 | 5% |

Insurance | $366 | 7% |

Recreation | $261 | 5% |

Personal Spending | $261 | 5% |

Total Expenses | $5,227 |

As you can see, this budget allows for saving a decent amount (over $500 per month), and would be great for a young family. I recommend putting the $500+ per month into your work 401k account up to the match, and then into a Roth IRA next.

If looking at buying a house on **$40 **an hour, make sure you can put 20% down and keep monthly housing costs under $1,600 per month.

Don’t like the budget? Grab your own budget template below and plug in **your** numbers for your **$40 **an hour budget.

You didn’t add how 35% to 40% of this is taken away by taxes.

Also not sure who is spending $1,500 or less if you live alone in NJ or NY.

Oops. Read it wrong. I do make $40 an hour, but not $7,000.

At the end of the month it comes out to $4,000.