$15 an Hour

How much is $15/hour as an annual salary?

$15 per hour working 40 hours a week, 52 weeks a year equals $31,200 annually, or about $2,600/month before taxes. After federal and state taxes, expect to take home roughly $26,000-28,000 depending on your state. This is close to minimum wage in many states and cities. At this wage, budgeting carefully is essential. The 50/30/20 rule suggests spending no more than $1,300/month on needs (rent, utilities, food), $780 on wants, and saving $520.