How much is a year $15 an hour? Working full-time (40 hours a week) at a $15 hourly wage for 52 weeks will make $31,200 a year.
Let’s Break It Down: How Much Is $15 An Hour?
Working 40 hours a week is considered full-time. $15 times 40 equals $600 per week. Multiply that by 52 weeks (52 weeks in a year), and it comes out to a yearly salary of $31,200 per year.
Forty hours times 52 weeks equals 2.,080 hours worked per year.
$15 an hour working 40 hours a week for 52 weeks per year make $31,200 a year, $2,400 a month, $1,200 biweekly, and $600 a week.

What is the take-home pay for $15 an hour?
Your employer will always take taxes out. They will deduct taxes and deductions at 17% from your paycheck, including federal, state, social security, and medicare.
For example, according to smartasset.com, in New York, if you were making $15 an hour, your estimated weekly take-home pay is $498 from the $600 earned. Your federal and state taxes are 8.99% or $54. Your FICA and state insurance taxes ( social security, medicare, state disability insurance tax, state unemployment insurance tax, and state family leave insurance tax) total 7.99% $37.
Your take-home salary if you earn $15 an hour would be $498 per week or $25,896 per year
If your company offers paid vacation time, your salary won’t be affected. However, if you choose to take a two-week vacation, your employer will deduct that.
Can You Live Off $15 An Hour?
$15 an hour is considered a living wage, which means you can live without welfare or food stamps.
$15 an hour would cover basic rent, utilities, transportation, and food.
After taxes, that leaves about $1,200 per month for other necessities such as clothing and healthcare. And if you work full-time for 52 weeks at $15 an hour, you’ll make about $31K a year – not counting any bonuses or benefits like health insurance or paid holidays.
But there are challenges to earning this amount of money. Employers who refuse to provide benefits, jobs that don’t offer any compensation, and transportation and housing (which can vary widely around the country) make even $15 an hour hard to live.
CNBC reports that people can not live on $15 an hour in most areas of the United States.
If you want to make your money go a little further, there are areas of this country that do not collect a state income tax adding a little more to your take-home pay each check.
- Alaska
- Florida
- Nevada
- New Hampshire
- South Dakota
- Tennessee
- Texas
- Washington
- Wyoming
How To Live On $31,200 A Year
Can you live on $15/hour? Yes. But it depends on which area of the country you’re living in and the cost of living.
It’s important to live below your means. It doesn’t matter how much money someone earns; what they do with the money counts. Whether rich or poor, people can often find themselves in a financial mess by spending more than their income.
Jobs That Earn $15 an Hour
Here are a few jobs that will pay around $15 an hour. These are jobs found in my area and posted on job sites like Indeed.com. Positions in this pay range seem to be bountiful.
- Caregiver
- Grocery or Retail Cashier
- Store Associate
- Customer Service Representative
- Amusement Park Team Members
- USPS Mail Sorter
- Mental Health Workers
- Grounds Keepers
- Fast Food Workers
- Warehouse Specialist
- Hospital Greeter

What’s The Average Salary In The USA?
According to the Social Security Administration, the US’s average annual wage in 2019 was $51,916.27, and the median yearly salary was $34,248.45. The median household income is in the middle of the lowest and highest reported, while the average is all the wages divided by the number of asked people.
According to ASPE, in 2021, the poverty line will be below $12,800 per year for one person living in the US. That means $15 per hour is above the poverty line and slightly below the median.
5 Ways To Secure Your Paycheck
One goal for people to work toward is financial security. While not always attainable, you must have a plan in place so that your finances will be set and stable through any unexpected events or circumstances when the time comes.
Financial freedom is unlikely unless you live within your means. However, living in the moment and freely spending may not secure a good life.
Some people view budgeting as somewhat boring or restricting—saying no to oneself from enjoying things that money can afford.
It becomes clear when one lives by these principles: financial security doesn’t happen with just a complete bank account but also through discipline. Being prudent about purchases will give them more peace of mind than ever before when worrying over tomorrow’s expenses or bills.
Here are seven ways to secure your paycheck with a steady income.
1. Create A Budget
A budget is a financial plan that helps you know your money’s going. So, if you learn to live within the means it brings into your life, including all expenses and income, you won’t have to worry about living beyond your necessities or needs.
What are some benefits of sticking to a budget?
a. It is a living plan that helps you and your spouse keep track of and manage expenses and income– not worry about what’s ahead
b. Knowing where every dollar goes helps to save for the future
c. You can set financial goals and then work toward them instead of just wondering how you’ll get there
d. Create a plan for the future to ensure sufficient financial security and stability, so you don’t spend beyond your means
e. It makes it easier to save for emergencies, long-term goals such as buying a house or saving for retirement, and helps set up savings accounts to help with finances in case of unforeseen circumstances.

2. Lower All Expenses
Part of managing your income and budget is to lower all expenses– not just the ones you can cut off.
Living financially secure doesn’t happen overnight or only cutting off a few monthly bills. It takes discipline and sound management over time, but it can be done if one allows for an organized financial plan that is flexible to change.
What are some ways to lower your expenses?
a. Look at your income and see where you can cut costs such as cable, gym memberships, subscriptions
b. Consider the pros and cons of owning a car as opposed to using public transportation or other means
c. Pay off debts that might be weighing you down or are challenging to pay off over time
d. Find ways to save on groceries by purchasing what you need—not extras and be sure to track what’s coming in versus going out
e. Be creative about reducing your bills if nothing else seems feasible.
3. Stop Eating Out
Eat-in meals save you immediate cash, but they’re also more nutritious. So, if you can cut back on or stop eating out altogether, that will help lower your expenses month to month, allowing for some spending money in other areas.
What are some benefits of eating at home?
a. Your grocery bill will be less than what you would spend at restaurants
b. You’ll eat healthier food than if you bought take-out or ate out
c. It will save your body from the harmful effects of eating unhealthy, cheap, processed foods. If nothing else, cutting back on these kinds of foods can improve your day-to-day well-being by allowing your body to function more effectively and at its total capacity
4. Develop Financial Security Over Time
Just because you don’t have thousands of dollars saved up doesn’t mean your finances aren’t correct.
What are some benefits of working toward financial security?
a. You can build credit history over time, so you don’t have to worry about loans, credit cards, car payments
b. As your income increases and you cut back on expenses, it will be easier to pay off debts and save for emergencies
c. You can have peace of mind knowing that any unforeseen circumstances won’t cause significant financial problems because you have a plan in place to weather through them
d. Developing your finances takes time and patience, but if you stick with it and don’t give up, it will pay off in the long run
e. Using a plan and making financial goals is a rewarding experience that can help you be more organized and prepared.
5. Downsize Expenses
Suppose you’re already using your budget and still coming up short every month. There are many ways to downsize expenses, and they’re all around you if you open your mind. That can include moving to a smaller place with cheaper rent or utilities, getting rid of the car and resorting to public transportation or even walking and biking, and reducing entertainment spending.
Consider getting financial counseling, rent assistance, low-cost medical or dental care, or food stamps.
Ask for help
Use the Internet and libraries as research tools to find out about programs in your community that can give you a helping hand. Government organizations often have these types of resources available, and they’re free and accessible for those who qualify.
Take advantage of these opportunities to help yourself and your family. If you’re struggling financially but have the will to turn things around, know that people are ready to help you if you ask for it.

4. Develop Financial Security Over Time
Just because you don’t have thousands of dollars saved up doesn’t mean your finances aren’t on the right track.
What are some benefits of working toward financial security?
a. You can build credit history over time, so you don’t have to worry about loans, credit cards, car payments
b. As your income increases and you cut back on expenses, it will be easier to pay off debts and save for emergencies
c. You can have peace of mind knowing that any unforeseen circumstances won’t cause significant financial problems because you have a plan in place to weather through them
d. Developing your finances takes time and patience, but if you stick with it and don’t give up, it will pay off in the long run
e. Using a plan and making financial goals is a rewarding experience that can help you be more organized and prepared for the future.
5. Downsize Expenses
If you’re already using your budget and still coming up short every month, you might need to consider downsizing expenses. This can include moving to a smaller place with cheaper rent or utilities, getting rid of the car and resorting to public transportation or even walking and biking, and reducing entertainment spending. There are many ways to downsize expenses, and they’re all around you if you open your mind.
Consider getting financial counseling, rent assistance, low-cost medical or dental care, or food stamps if you qualify.
Ask for help
Use the Internet and libraries as research tools to find out about programs in your community that can give you a helping hand. Government organizations often have these types of resources available, and they’re free and accessible for those who qualify.
Take advantage of these opportunities to help yourself and your family. If you’re struggling financially but have the will to turn things around, know that there are people ready to help you if you ask for it.
6. Use Cash Only
Cash only is a great way to spend less. If you feel the need to spend money on something, make sure it’s cash because even seeing all that green in your wallet might be enough for you to wait. Don’t get bogged down with the idea of everyday purchases because there are many other ways to spend your money on more important things.
Switch to using a cash-only lifestyle. If you don’t trust yourself to spend cash wisely, then designate a certain amount of money each month and promise never to go over. Treat this cash just like the money you put toward rent and other bills—meaning, it is for bills or savings only.
What are some benefits of using cash only?
a. You’ll be less likely to overspend because you can physically see how much you have left after each purchase
b. It forces you to buy what you need, not want
c. Using cash will make you stop and think because you won’t be able to swipe a card or write a check
d. You won’t get hit with interest rates for not paying your bills on time; the payment will be due when it’s due

7. Learn New Frugal Living Tips
Dig deep into the research on how to live a more frugal life. Resources like this article on frugal living tips will help. Consider what you need and what you don’t need. Decide to replace items you use daily with cheaper alternatives or go without them.
Some frugal living tips to consider:
a. Buy produce in season.
b. Sign up for Rakuten. They will give you a percentage of your purchase back.
c. Hit farmer’s markets right before closing to snag discounted deals on produce. Nobody wants to haul their produce home.
d. Start having meatless Mondays. Meat is the most expensive ingredient in a dish; eliminating that cost and replacing it with cheaper protein sources once a week makes a big difference.
e. Utilize a capsule wardrobe, saving the costs of an extensive wardrobe.
Do You Need to Make More Money?
If you’re already hitting your income limit, it may be time to consider increasing your earning potential.
Increasing your earnings doesn’t mean quitting your job and getting another one that pays more. It could mean improving skills for better-paying positions or even going back to school to get a degree or certification that qualifies you for more. Or, you could find a way to make money on the side, such as getting another job or starting up an online business.
Raising The Federal Minimum Wage To $15 An Hour
Raising the minimum wage to $15 an hour is being tossed around. But what does it mean to raise the wage? How much more would someone make if they were making $15 an hour instead of the current minimum wage?
The minimum wage in the United States is $7.25 an hour, which means that if you work a full-time job of 40 hours per week, you will make only $15,080 a year before taxes and other deductions.
If we raised the minimum wage to $15 an hour, workers would earn at least double that amount or $31,200 annually (based on 52 weeks – no vacations), moving us closer to a living wage. Imagine how much your life could change with more income!
That doesn’t consider any bonuses or benefits like health insurance or paid holidays. That also doesn’t take into consideration taxes and deductions.
Final Thoughts On How Much A Year Is $15 An Hour
Based on a 40-hour workweek and 50 weeks of employment, you can make $31,200 annually. People who work full-time should live on what they make, and depending on the area you live in and whether you’re the sole provider in the house, it might not be enough.
The goal is not always the same for everyone, but we agree that $15 an hour and a living wage are good starting points. If you’re looking for ways to increase your income and maintain your lifestyle by spending less money, you might find some helpful tips!