top of page
Search

What do you really get paid?

If you find a job that earns you 30 dollars an hour and you work a 40 hour week do you believe you would get paid 30 x 40 = $1,200.00 a week? ANSWER is NO! First thing that happens is taxes are taken out. (State and Federal). Other things are social security, medical, life insurance, 401k, etc. Since everyone's situation is different all the things taken out and the amounts will vary. So, let us pick a typical amount to come out. Say 40 percent. That would mean you would get a check for $720.00. My next question is: Is this the amount you get paid? The answer is....It Depends! If you are living on your own then you may be paying things like: rent, food, utilities, car insurance, etc. Let's say all of those things come up to $620.00. That means you are only getting paid $100.00 a week. OUCH! It also means you are actually getting paid $100.00 divided by the 40 hours you worked or $2.50 an hour. If you want to buy an item that costs $50.00 you need to work for 20 hours. Please do not wait till you are older to start your financial journey.

5 views0 comments

Recent Posts

See All

My Misconception # 1

When I was younger and was making money. I was paying my bills and had extra money. I wanted a life where I was dressed really nice with nice mens jewlery. So, I looked for nice clothing and jewelry.

Work smarter not harder. Really!

I hear the saying work harder not smarter. I personally believe that is a weak way to live life. People who say that usually (not all the time so you may be an exception) work smarter and then to make

Time and Money

What is most important time or money? Let's ask it this way. If you lose money you can get money back. If you lose time you can never get that back. Can you do things in such a way as to get to the sa

Comments


bottom of page