Throughout the world, we are witnessing a cost of living crisis. With prices soaring in the supermarket, gas stations, restaurants, clothing stores, and every other part of our lives, what about our wages? And how much are we making a year?
Joe Biden pledged in 2021 that he would raise the minimum wage of federal workers to $15 per hour. This went into effect in January 2022. Regular folks who work as federal workers and people working on federal contracts are entitled to at least $15 per hour.
- How Much Would You Earn a Year on a $ 19-per-Hour Salary?
- How Do Your Wages Look After Tax?
- Is $19 An Hour a Good Wage?
- How To Live On $19 An Hour?
- Hourly And Yearly Salary Info
- Final Thoughts
Examples of federal workers…
These are people who answer the phones to ensure Americans receive the health care they are entitled to, the wildland firefighters who defend American forests and local communities, the nursing assistants who look after veterans, and the workers who construct and maintain federal buildings. Biden released a statement through the White House website regarding the raise. However, there are no insights into raising the minimum wage to above $19 as of yet.
Currently, the minimum wage for people not in a federal role is $7.25. $19 an hour is more than twice the average salary. And would make a significant difference in people’s lives, especially in today’s climate.
So, $19 An Hour Is How Much A Year?
Let’s find out…
How Much Would You Earn a Year on a $ 19-per-Hour Salary?
There are 52 weeks in a year. Most people work around 40 hours per week, so assuming this, you would be working 2080 hours per year. So, $19 an hour means earning $39520 per year, working 40 hours a week.
$19 an hour can break down to look like this:
- $152 per day ($19 x 8 hours)
- $760 per week ($19 x 40 hour work week)
- $1520 bi-weekly ($760 x 2)
- $3293.33 per month (Annual income / 12)
- $39520 per year ($19 x 2080 hours)
However, we have to include taxes depending on the state you live in. For example, the income tax in California is 13.3%. In comparison, Colorado has a 4.4% income tax. After tax, $19 will leave you earning around $16.17 per hour. This means your annual salary after tax would be $33636 per year.
How Do Your Wages Look After Tax?
- Hourly Pay: $16.17
- Daily Pay: $129.37
- Weekly Pay: $646.85
- Biweekly Pay: $1293.70
- Monthly Pay: $2803.03
That’s a loss of $5884 per year. Depending on your state, this figure could also be higher. But don’t lose hope or feel down. A few places don’t have income tax at all in the states. These places include; Alaska, Florida, New Hampshire, Nevada, South Dakota, Tennessee, Texas, Washington, and Wyoming.
Cost of living in various states…
We must remember, though, that the cost of living in different states can also determine whether looking for a no-income-tax state would work out better for your circumstances. If you want to work out your yearly salary after tax, you can use an online tax calculator or look at your paycheck for reference.
We know that Biden raised the federal minimum wage to $15 this year. But what about jobs that pay even more than that? Are there many opportunities for $19 per hour job roles when the minimum wage is more than half of that? Let’s take a look…
- Customer Service Representative
- Warehouse Worker
- Dental Hygienist
- Amazon Employee
- UPS Driver
A quick google search will bring you to work websites. Most of these share an average salary; some roles could be $12-$19. However, plenty of roles advertise a wage of $19 and above.
Is $19 An Hour a Good Wage?
Let’s put it this way; it’s still not an excellent salary. At the end of the day, we all want more, and no one would refuse to earn more money (as long as it was within their moral code). There are many factors to think about too. How old you are, your family situation, and where you live.
For example, $19 an hour for a fresh out of high school teen, living with parents, with no car and no children, would likely make them very happy. However, this wouldn’t be seen as much for a family of four with two young children, one parent on maternity, and one income, especially with bills to pay, car payments, phone payments, food, etc.
It’s always better to budget…
Everything is relative and comes down to our situation. $19 is undoubtedly much better than the current minimum wage of $7.25. If someone earns $7.25 per hour, that’s $15,080 a year, which is a massive difference if you make $19 an hour, earning $39,520.
It is also important to budget, especially if you are a family struggling with a salary like this. Let’s take a look at what it means to budget…
How To Live On $19 An Hour?
It doesn’t matter if you’re making $10 an hour or $1000 an hour. We must be responsible and not overspend and almost live below our means. The main reason why people end up in sticky situations and with lots of debt is because they’re spending more than they earn.
Simply put, make sure you can afford and will be able to with what you spend your money on. Don’t take out a finance car if you’re on a temporary job contract; what happens when the money stops? Big trouble. This is why budgeting and being responsible with cash will lead you to live a life of financial freedom and security.
Create a budget
This doesn’t mean to say that you must budget and go without. Make a plan that is doable for you and your family. Some people use folders, withdraw cash for each occasion, and plan for the month. Others do it a little less strictly and use a card to track spending and show where you’re spending more. Do it in a way that works for you. There are many helpful videos online where you can learn how to budget effectively.
This could be putting $20 away weekly or investing money into a cash ISA. Put money away where you can’t touch it and use it for specific future things. Whether it be your child’s first car or a holiday, you’ve always dreamed of. Having savings gives you a sense of security too.
Reconsider your expenses
Make sure you’re not spending money where you don’t need to. Check your direct debits and card payments. No longer using DisneyPlus, delete your account. Otherwise, it’s just a waste!
Pay off Your Debt
Debt doesn’t come interest-free, unfortunately. That means the quicker you can pay off your debt, the faster you are free from the burden. Prioritize this, especially if the interest is high.
Housing Costs are one of the most significant debts we will have. When you own a property, most people borrow money from the bank. When you rent a property, you pay someone’s mortgage and more. Therefore choosing where you live wisely can be one of the most sensible ways to manage your money.
Living beyond your means…
After all, who needs a five-bedroom house for two people? It just adds more cleaning, costs, and maintenance. You may live in a smaller home, live outside the city, and cut costs by commuting or renting out a smaller room to save some extra cash.
Hourly And Yearly Salary Info
If you are interested in hourly and yearly salaries, then take a look at the difference between Salary vs Hourly Pay, or compare $19 an hour with 13 An Hour Is How Much A Year or even 18 Dollars An Hour Is How Much A Year and $20 An Hour Is How Much A Year?
For the higher earners, find out more about $30,000 a Year is How Much An Hour, $36,000 a Year is How Much An Hour and $47000 a Year is How Much An Hour, as well as 60k A Year Is How Much An Hour, and finally, $75000 A Year Is How Much An Hour?
Are you looking for your first job, then you might want to know the difference between Part Time And Full Time Hours, followed by the best 15 Part Time Jobs That Pay More Than 40 Per Hour and the best 20 Part Time Jobs That Pay More Than 20 Per Hour in 2023.
Effectively $19 an hour is not an insufficient salary considering the minimum wage is $7.25. However, in today’s current situation, living on $7.25 puts you in the poverty bracket.
Unless your significant other or you have family support with a higher earner to level out. $19 an hour after tax still leaves you with a healthy salary of $33636 after tax. Around 63% of Americans earn $30,000 or more, so $19 an hour puts you into the top two-thirds of the employees in the nation.
Finding jobs paying $19 per hour without qualification may be difficult in lower-paid states. However, in states like California and New York, you can likely find a job.
All the very best in finding a great job!