How much unemployment will I get if I make $1,600 a week?
If you make $1,600 a week, your unemployment benefit amount will vary by state and depends on several things, including your work and income history and whether your employer pays into your state’s unemployment insurance benefits program.
Here are examples of a few different state unemployment benefits:
North Dakota Unemployment CalculatorSelect your state to calculate your weekly unemployment payment:
$1,600.00 a week is… |
|
| $1,600.00 a week (40 hours) | Income |
| Hourly | $40.00 |
| Daily (8 hours) | $320.00 |
| Biweekly (80 hours) | $3,200.00 |
| Monthly (173 hours) | $6,920.00 |
| Quarterly (3 months) | $20,760.00 |
| Yearly (52 weeks) | $83,200.00 |
How much is $1,600 per week?
Are you making $1,600 per week? No matter how much money you make, you probably feel like you know how much you’re making. After all, you see it on your paycheck. But do you really know? Part of getting to a better place financially is understanding how much you make every hour, every month, every quarter, every day, and of course, every year.
$1,600 a week is how much per hour?
Everybody works a different amount of hours every week. Typically self-employed people work around 60 hours per week, while employees usually work an average of 37.5 Let’s meet somewhere in the middle (more toward the employee side, honestly) and use 40 hours per week as our baseline.
$1,600 / 40 = $40 per hour
Not bad. 40 is a nice round number. Hey, wouldn’t you know it…if you’re working 40 hours, those numbers are the same. It all seems very balanced…40 hours each week, and a very decent $40 per hour—which is still $18 higher than the proposed federal minimum wage floating around. At this rate, you still have 128 hours left over to sleep and do whatever else you’d like. If you sleep 8 hours a day, you’ve got 72 hours to fill up with hobbies or family time. So far, so good…especially in terms of your work-life balance.
$1,600 a week is how much per month?
Hold your horses and don’t multiply $1,600 by four. That’s because no month actually has four weeks in it, starting with Sunday on the 1st of the month (maybe sometimes that happens with an odd February every so often, but we’re not astronomers). Instead, do this:
40 hours per week x 52 weeks = 2080 hours annually
2080 hours annually / 12 months = 173 hours per week (and some change)
Now go from there:
$40 per hour x 173 hours per week = $6,920
This number is also looking good. Even if you live in California, where the median average monthly housing payment is $2,421, you are still keeping that around the recommended (no more than) 33% of your total income.
$1,600 a week is how much per quarter?
Quarters involve splitting the year up into four sections, sort of like winter, spring, summer, and fall. Each season has its own expenses, so that’s important to consider. But quarters can also be useful stopping points for gauging how far along you are toward bigger financial goals…like saving up for a wedding or a trip to Europe.
$6,920 per month x 3 months = $20,760 per quarter
Now you will have a sense of how much closer you are moving towards that vacation package to Greece or renting that wedding hall and booking a caterer. You will still want to make sure you’re putting aside money every time you get paid, not just every three months. But every three months can be a little stopping point to take a small amount of money from the pot and reward yourself for your progress, like dinner out or some new clothes.
$1,600 a week is how much per year?
Your annual income is going to be important for your tax return, of course:
$1,000 per week x 52 weeks = $83,200 annually
In addition to helping with yearly taxes, knowing your annual salary is a useful professional gauge to see if you are where you want to be, or if you want to hunt for a better salary or source of income.
$1,600 a week is how much per day?
If you’re working the traditional 40 hour work week (as we’ve assumed so far for our math), then you are also probably looking at 5 work days each week, 8 hours each day.
$40 per hour x 8 hours per day = $320 per day
Of course, other arrangements exist. But even if you somehow cram 40 hours into three days (we don’t recommend it), you’re still looking at $533 per day, and nothing on the other days. It’s probably not worth picking up the extra shifts if it’s all the same at the end of the week anyway.
$1,600 a week is how much biweekly?
Biweekly might mean twice a week if you’re talking about taco night (Tuesdays and Thursdays for some who like tacos). But in terms of paychecks, it means every other week:
$1,600 per week x 2 weeks = $$3,200 biweekly
How To Budget If You Make $1,600 a Week
The question of how to budget is one that everyone needs to ask, whether they’re making $1,600 or $16,000 each week (yes, it may seem surprising). One way of thinking about this is applying the 50-30-20 rule. In other words, looking at $1,600 each week, you should spend around $800 (50%) of this money on needs, $480 per week (30%) on wants, and put $320 (20%) into savings toward the future. Looking at it like this, that will leave you with approximately $3,200 each month for essentials like your rent or mortgage, groceries, and bills. And within that number, if you’re keeping your housing costs down to 25% of your total income, that should leave you with at least $1,470 for needs like food and toilet paper.
Many Americans get trapped in debt because they use credit cards to purchase things that are slightly beyond their means. If you’re making $1,600 each week, you need to be honest with yourself just like someone who is making less and someone who is making more. If you already have a mortgage, student debt, and a family to support, leasing a Jaguar for your weekend car may not be the best idea (average leasing cost of $1,029 per month) but maybe you can still finance a new car. It all depends on you, your spending, and your living expenses. Does the Jaguar fit into the 30% number for wants…comfortably?
Beyond this basic advice of percentages, you’ve got to look at your spending habits and see if you’re living within or beyond $1,600 on a weekly basis. These days, most online banking apps will tell you that, with graphs and pie charts to make it more fun and easier to understand.