How much unemployment will I get if I make $15 an hour?
Do you need unemployment benefits? We can help you estimate your weekly benefits amount. Discover much unemployment you can get if you make $15 per hour. The amount of money you can receive is different depending on which state you live in.
Check out these examples that show how state unemployment benefits can vary:
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$15.00 an hour is… |
|
| $15.00 an hour | Income |
| Daily (8 hours) | $120.00 |
| Weekly (40 hours) | $600.00 |
| Biweekly (80 hours) | $1,200.00 |
| Monthly (173 hours) | $2,595.00 |
| Quarterly (3 months) | $7,785.00 |
| Yearly (52 weeks) | $31,200.00 |
How much is $15 per hour?
How much is $15 an hour, really? Well, it’s a ten and a five, or three fives, or maybe fifteen ones, you might say. But in terms of daily, weekly, and monthly income, how much is it? Let’s do some math and find out.
$15 per hour is how much per month?
Most Americans are working around 40 hours each week, so that’s what we will use in our math. But before we get there, we need to actually figure out how many hours you work in any given month. There are a few steps to figuring that out, the first of which is seeing how many hours you work in a given year.
40 x 52 = 2080 hours annually
Now you will divide that by the number of months.
2080 hours per year / 12 months = 173 hours per month
While it’s true that not every month has the same number of days, 173 hours can be your baseline for estimating your monthly income.
$15 x 173 hours = $2,595
$15 per hour is $2,595 per month.
You can compare your fixed monthly expenses against this number to see how much you’ll have left over for things like gas and groceries.
$15 an hour is how much per week?
This math just involves taking your work hours each week and multiplying them by $15.
40 x $15 = $600
$15 an hour is $600 per week.
According to the USDA, everybody needs between $300 and $500 for groceries every month. That means if you have a family of three, for instance, $600 will cover your groceries, with perhaps a few hundred left over for your other expenses. Don’t forget that you have monthly expenses such as rent and mortgage, though.
$15 an hour is how much per year?
All you need to do is take your weekly income and multiply it by 52 weeks.
$600 x 52 = $31,200
$15 per hour is $31,200 per year.
There are many places around the United States where this amount of money would be sufficient enough to cover the living expenses of one or perhaps two people (with some tight budgeting). However, there are also many locations where this amount would only be halfway there, realistically speaking.
$15 an hour is how much per day?
Do you ever wonder how much you’re walking away with at the end of a workday? Of course, knowing that information depends on how many hours you work each day. For the average American, it’s going to be somewhere around 8 hours in a five-day work week.
Take 8 hours and multiply it by $15 to get…
8 hours x $15 = $120
$15 per hour is $120 per day.
This is not a bad amount of money to walk away with at the end of your shift…essentially a Benjamin and a Jackson. Remember, however, that every dollar needs to be carefully considered and spent wisely. It can be tempting on the way home to grab a Starbucks, but sometimes that can eat into your expenses. Or maybe it won’t, if you use the budgeting method we highlight in our conclusion.
$15 an hour is how much per quarter?
To get a quarterly calculation, take your monthly amount and multiply it by the number of months in a quarter, which is 3.
$2,595 x 3 months = $7,785.00
$15 per hour is $7,785 per quarter.
This is a good number to consider in terms of planning ahead for seasonal expenses like holiday travel.
$15 an hour is how much biweekly?
The biweekly pay period is fairly standard in the American workforce. Payday for many is a nice day, especially when that money hits your bank account or you get a paper check to cash. To find out your biweekly number, just multiply your weekly number by two:
$600 each week x 2 = $1,200
$15 per hour is $1,200 bi-weekly.
To put things in perspective, this is the amount of money it would take to rent a two bedroom apartment in a number of states including Maryland, Rhode Island, Alaska, New Hampshire, and Colorado.
What Is the “No Budget” Budget?
Do you struggle with a monthly budget? If so, you aren’t alone. Many people who make $15 an hour are interested in finding a good way to budget. Some people find success with “No Budget” budget.
“Anyone who lives within their means suffers from a lack of imagination,” the poet Oscar Wilde once said…which essentially means “budgeting is boring.” Nobody likes to budget because it feels very constricting. But what if budgeting felt free and easy? Let’s talk about the “No-budget” budget method (sounds weird, we know).
In order to follow the no-budget budget, you will have to keep an eye on how much you’re spending, in real time. That means having a banking app you can access on the go, so you can see your checking account and how much is in there. You will also need to know (and have it cemented in your mind) when recurring expenses like rent, utilities, car payment, and insurance are taken out of your account.
That’s really all there is to it. For example, if you have $3,452 in your checking account, and you know that your rent is $1,200, and your car payment is $300, and you’ve set up both to happen on the 15th of the month, and that date is only three days away…you know that you’ve got $1,952 left in your checking account. Can you afford some Starbucks on the way home, and still have money left over for gas, groceries, and other needs for the second half of the month? It would certainly seem so.
As you can see, the no-budget budget still requires some self control. And in some ways, it requires even more cognizance than a regular budget, because you constantly have to have your fixed expenses on radar. You also have to leverage your discretion. Starbucks might be fine, but a gazebo for the backyard is going to make things tight as the month winds down.
Another thing the no-budget budget requires is more proactivity in terms of setting money aside for saving. That’s because instead of relying on a set list of spending and dumping the change into a piggy bank, the no-budget budget gives you greater flexibility. To avoid falling behind on saving goals, you need to do them up front, perhaps by putting 10% away. You can easily set this up with your HR department or do it yourself when you get paid.