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## How Much Is 31 Dollars An Hour Per Year?

To calculate how much you will get paid per year, let’s assume you work 52 weeks of the year (with 2 weeks paid time off). If you are working a full-time job, you will be working 40 hours per week on average.

40 hours multiplied by 52 weeks is 2,080 working hours in a year.

\$31 per hour multiplied by 2,080 working hours per year is an annual income of \$64,480 per year.

## What If You Don’t Get Paid Time Off?

If you don’t get paid vacation, let’s assuming you are working 50 weeks of the year (with 2 weeks unpaid time off). And we’ll assume you work an average of 40 hours per week.

40 hours multiplied by 50 weeks is 2,000 working hours in a year.

Now simply multiply your hourly rate by the number of working hours in the year.

\$31 per hour multiplied by 2,000 working hours per year is an annual income of \$62,000 per year.

## How Many Working Days Are In A Year (2020)?

For a more accurate calculation, you can calculate EXACTLY how many working days are in the year.

For the year 2020, it’s a leap year, so there are 366 days in the year. Here’s how the days break down:

262 Weekdays104 Weekend Days (woohoo!)

Assuming your are working each weekday, 8 hours per day, here is how many hours you will work:

262 work days multiplied by 8 hours per day is 2,096 working hours in 2020

\$31 an hour multiplied by 2,096 working hours is \$64,976 income per year

*This does not include any overtime hours worked

## How Much Is \$31 An Hour Per Month?

If you want to see how much \$31 an hour is a month, we need to know how many working hours there are in a month.

If we divide the total working hours in a year by 12 (months), we can see how many working hours are in a month.

2,096 hours a year divided by 12 is about 175 working hours per month on average.

So to calculate your monthly income, see below:

\$31 an hour multiplied by 175 hours per month is \$5,425 per month income on average.

## How Much Is \$31 An Hour Per Week?

If you want to break it out by week, let’s assume your working a normal 40-hour week.

So to calculate your weekly income, see below:

\$31 an hour multiplied by 40 hours per week is \$1,240 per week income.

## How Much Is \$31 An Hour Per Day?

Let’s see how much you can make per day on \$31 an hour. Assuming you are working a typical 8-hour workday, here’s the answer:

\$31 an hour multiplied by 8 hours per day is \$248 per day income.

## Comparison Table Of \$31 An Hour

\$31 An HourTotal Income
Yearly (52 weeks) \$64,480
Yearly (50 weeks) \$62,000
Yearly (262 Work Days) \$64,976
Monthly (175 Hours) \$5,425
Weekly (40 Hours) \$1,240
Daily (8 Hours) \$248
Monthly Take Home (175 Hours) \$4,162

## Example Budget For \$31 Per Hour

Now that you know how much you can make per year, per month and weekly, let’s see how a typical budget can look making \$31 per hour.

Remember, for your budget, you need to calculate the estimated take-home pay.

Taking the \$31 an hour monthly income of \$5,425, minus taxes, the estimated take home pay is \$4,162 (varies by state and paycheck deductions)

Sample Monthly Budget For \$31 An Hour:

Category Budget Percentage
Income \$4,162
Giving \$416 10%
Saving \$416 10%
Food \$416 10%
Utilities \$416 10%
Housing Costs \$1,041 25%
Transportation \$416 10%
Health \$208 5%
Insurance \$416 10%
Recreation \$208 5%
Personal Spending \$208 5%
Total Expenses \$4,162

As you can see, this budget allows for saving a decent amount (over \$400 per month), and would be great for a young couple, possibly renting an apartment. I recommend putting the \$400 per month into your work 401k account for best results.

If looking at buying a house on \$31 an hour, make sure you can put 20% down and keep monthly housing costs under \$1,100 per month.

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Don’t like the budget? Grab your own budget template below and plug in your numbers for your \$31 an hour budget.