$11 an Hour is How Much a Year [Is it enough in 2024]

$11 an hour is how much a year? The annual salary is approximately $22,880 if you work 40 hours a week for the entire year (52 weeks) before any taxes have been deducted from your paycheck. You will bring home approximately between $19,000 and $21,000 per year after taxes are taken out. This depends on the actual number of workdays in the given year. Get the details: Is this enough money to pay your bills, grow your savings, invest in your future, and enjoy fun activities?

What You Need to Know

Calculations are based on a work year of 2,080 hours. A full-time job is typically 40 hours per week, and 20 hours a week is part-time. However, 30+ hours is considered full-time employment. Breakdown of income making $11 an hour: $62.68 daily $440 weekly $880 biweekly $1,906 monthly $22,880 yearly

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Are you in the market for a new job and looking for an answer to the question, “$11 an hour is how much a year?”

Knowing exactly how much money you have to spend simplifies the process of creating a budget.

When paid an hourly wage your paycheck can be less consistent than earning a salary because the number of hours you work may not be exactly the same every week.

Once you know how much money you will make each month (which depends on your hourly wage,) it is simple to plan for typical living expenses such as housing, utilities, insurance, food, and retirement savings.

There are several variables to take into consideration when figuring out how much money you will take home on an hourly wage of $11.

For example, the average person that works a full-time job works 40 hours per week. However, 30+ hours is considered full-time employment so the working hours and yearly income would be different if you work less than 40 hours at the same hourly pay.

Also, keep in mind the following calculations do not include the deduction of federal or state taxes, or other employer deductions (unless otherwise stated.)

Keep reading for our ultimate guide that breaks down the most-asked questions on this topic with step-by-step details on how much you will earn each week, month, and year both before and after taxes are deducted.

Take note that the numbers can vary slightly depending on the method of calculation used. This is because there are several ways to calculate income. You may see this in our figures as well as the calculations you do on your own.

For example, the average month of income will vary depending on if it is figured using 4 weeks in a month or the total number of days and hours worked in a month (this is the method we use because it is recognized by the federal government in the U.S.)

Over the course of a year, your annual income can vary from year to year depending on the total number of days in the given year (this number can be different each year.)

It also depends on the accuracy of your tax deduction figures and if social security and medicare deductions are included.

Let’s dive in!

$11 an hour is how much a year?

$11 an hour is $22,880 per year.

The following information was used to arrive at the calculation:

Hourly wage = 11 dollars an hour

Workweek (full-time) = 40 hours

Weeks in a year = 52 weeks

Hours worked per year = 2,080

Following is a detailed breakdown of how much you will make earning this hourly wage:

Hourly wage (Yearly Salary / 2,080 Hours): $11 per hour

Daily earnings (Yearly Salary / 365 Days): $62.68 per day

Weekly earnings (40 Hours x Hourly Salary): $440 per week

Biweekly earnings (Yearly Salary / 26): $880 biweekly

Monthly earnings (Yearly Salary / 12): $1,906 per month

Yearly earnings (2,080 Hours x Hourly Rate): $22,880 per year

The following table provides a breakdown of the average salary for a person earning $11 an hour.

$11 an Hour Wage Breakdown

11 an hour is how much a year part-time?

If you work part-time that means you are working between 20-30 hours per week.

Therefore, your income will change based on the exact number of part-time hours you are working. If we calculate based on the typical 20-hour workweek being part-time, you would make approximately $9,500 to $10,500 a year.

$11 dollars an hour is how much every two weeks?

This is considered being paid biweekly and your paycheck is $880 every two weeks if you are making $11 an hour (before taxes.)

How much is $11.00 an hour weekly?

If you want to create a weekly budget from the start, these are the calculations you need to start an example budget (then turn it into your actual budget.)

With hourly pay of $11 an hour, working full-time at 40 hours will give you $440 a week. For two weeks, the pay would be $880.

If your job offers overtime hours and you agree to work more hours that week, your income will be more.

However, if your job does not offer paid vacation time or paid time off, yet you still take time off, your weekly income will decrease (be less.)

How much is $11 an hour per day?

If you are curious how much money you make per day on this hourly wage, that total is $62.68

Therefore, each day you go to work you know how much you will make that day.

This is how we did the calculation:

Assuming you work 8 hours each day and 2080 hours a year, earning an hourly rate of $11 would put your income for the day at $62.68

(Yearly Salary / 365 Days): $62.68 per day

11 Dollars an Hour 40 Hours a Week after Taxes

When you work 40 hours a week that means you are employed full-time. Any number of hours over 30 per week is considered full-time employment.

When taxes are taken out of your check, they reduce your take-home salary even though your hourly wage doesn’t change.

Our approximate guess is that 15% of your paycheck will be deducted to cover income tax, social security, and medicare (in the United States), but this will vary from person to person and state to state.

Go to the Federal Government tax website to get your personal tax bracket.

Earning an $11 hourly rate, your approximate annual salary will be $19,000 to $21,000 per year after the taxes are deducted.

Even though the actual wage is 11 dollars an hour, your per hour wage earnings fall to approximately $9.13 to $10.10 after tax deductions.

The state you live in determines your state tax rate.

For example, Colorado’s taxes are 4.63%, California’s taxes range between 1% and 12.3%, Georgia’s taxes range between 1% and 5.75%, and Kentucky’s taxes range 5%.

According to AARP, there are also 9 states that don’t tax their residents, including Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington, and Wyoming.

Is $11 an hour good pay?

$11 an hour can be good pay for one person, and not enough to live on for another person.

There are several factors that play a role in determining if you can live comfortably on this hourly wage:

• What is the cost of living in your location?
  • The cost of  living is often called the ‘living wage’
• How much debt do you have?
• How many family members does your paycheck support?
• Do you have an effective budget in place and do you follow it?

If your goal is to achieve financial freedom, don’t just focus on how much money you make but also on how you spend your money down to each dollar.

Curious if how much money you make is comparable to others in a similar job? Find out how you stack up in the post What is Considered a Good Hourly Wage Today

Ways to Make More Money if $11 an Hour isn’t Enough

• Start a side business online that allows you to earn extra (such as selling things on eBay, Amazon, or Etsy)
• Sell your used items using the internet, such as selling an old cellphone on eBay, Craigslist, or Facebook Marketplace
• Get steady part-time work opposite of your current job
• Find opportunities in your community by volunteering either individually or with groups like churches and schools
• Ask your supervisor for a raise
• If your job is part-time, ask your supervisor if you can work full-time
• Find a flexible side hustle so you can do as little as you want, such as babysitting, cleaning houses, walking dogs or pet-sitting, becoming an Instacart, Uber, or food delivery driver, etc.
• You can even sell pictures of your feet and earn a full-time income
  • Be sure to read this article on why you shouldn’t use Instafeet to sell your foot pics if you start doing this

If you work 50 weeks a year in your full-time job with 2-weeks of vacation, you can also pre-plan ways to earn extra income during this paid time off.

Can you live off 11 dollars an hour?

Living on $11 an hour is tough if you have debt and a family to support.

When you take into consideration basic living expenses, they can add up quickly. These are needs such as clothing, housing, food, healthcare, etc. At $11 there isn’t a lot left over for an emergency if you can even pay all the required bills on this wage.

The bottom line is it comes down to your living wage rate, which takes into account your location and other important expense factors in your area.

You might also like: How to Sell Feet Pics Online for Cash Today

Ways to Save Money

• Get rid of debt payments
• Spend less than you make (often called ‘living below your means’)
• Follow frugal living habits
• Create and follow a budget
• Put cash in a savings account every month
• Set a goal for what you consider good pay and consistently work toward it
• Know and keep track of your financial situation at all times

Ideas to Cut Housing Expenses

• Move into more affordable living spaces such as a one-bedroom apartment or even go smaller to a studio.
• Share a house with roommates to split the rent in half or three ways.
• Offer to do simple upgrades on a rental house in exchange for rent, such as painting or landscaping.
• Ask your landlord if he/she is willing to negotiate your rent. If you have always paid on time and proven you’re a responsible tenant it is possible they prefer to lower the rent to keep you living in the property instead of taking a chance with a new renter.

Ways to Lower Living Expenses

• Buy food from the grocery store to cut the added expense of eating out.
• If you live in a place that offers free grocery pickup, opt for this so you are purchasing exactly what you need and not going inside the store.
• Reduce entertainment costs such as skipping movies, concerts, etc.
• Split cable or TV plans with a friend or family member.

If your goal is to achieve financial independence, keep working on increasing your income by gaining new skills, and spending each hard-earned dollar wisely.

Be smart about finding the right side hustles to earn extra money, and do your research before starting any gig.

Seeing how much of a difference your hourly wage can make in speeding up (or slowing down) your personal finance goals can help keep you motivated and on track.

Do you make enough money in your state to not only live comfortably but also have the option to focus on saving, investing, and enjoying fun activities?

How does the state where you live stack up in comparison to other states?

Find out in the detailed post What is Considered a Good Hourly Wage?

Looking for more information on hourly wages and how to translate other amounts into a yearly salary? Find all the details on the Wages category page that includes a list of your hourly pay and how much you are making a year.

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• 20 Free Printable Budget Templates for 2024 (no email signup required!)

Sources

• IRS tax brackets 2022 (see in Marginal Rates bullet)
• 9 states that don’t tax

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