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How Much Is 23 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.

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\$23 per hour multiplied by 2,080 working hours per year is an annual income of \$47,840 per year.

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.

\$23 per hour multiplied by 2,000 working hours per year is an annual income of \$46,000 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 Weekdays104 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

\$23 an hour multiplied by 2,096 working hours is \$48,208 income per year

*This does not include any overtime hours worked

How Much Is \$23 An Hour Per Month?

If you want to see how much \$23 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:

\$23 an hour multiplied by 175 hours per month is \$4,025 per month income on average.

How Much Is \$23 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:

\$23 an hour multiplied by 40 hours per week is \$920 per week income.

How Much Is \$23 An Hour Per Day?

Let’s see how much you can make per day on \$23 an hour. Assuming you are working a typical 8-hour workday, here’s the answer:

\$23 an hour multiplied by 8 hours per day is \$184 per day income.

Comparison Table Of \$23 An Hour

\$23 An HourTotal Income
Yearly (52 weeks)\$47,840
Yearly (50 weeks)\$46,000
Yearly (262 Work Days)\$48,208
Monthly (175 Hours)\$4,025
Weekly (40 Hours)\$920
Daily (8 Hours)\$184
Monthly Take Home (175 Hours)\$3,215

Example Budget For \$23 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 \$23 per hour.

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

Taking the \$23 an hour monthly income of \$4,025, minus taxes, the estimated take home pay is \$3,215 (varies by state and paycheck deductions)

Sample Monthly Budget For \$23 An Hour:

Category Budget Percentage
Income\$3,215
Giving\$32210%
Saving\$32210%
Food\$32210%
Utilities\$32210%
Housing Costs\$80425%
Transportation\$32210%
Health\$1615%
Insurance\$32210%
Recreation\$1615%
Personal Spending\$1615%
Total Expenses\$3,215

This is a comfortable budget, and would be great for a single person or married couple, possibly renting an apartment.

If you are looking at buying a house on \$23 an hour, just make sure to put 20% down and keep your costs around \$800 per month. You can also still save over \$300 per month. I recommend that money go to your 401k, investing toward retirement with your company match.

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Don’t like the budget? Grab your own budget template below and plug in your numbers for your \$23 an hour budget. 