Get ready to discover Michigan, a state where college life is as varied as the wildlife wandering the Great Lakes. We’re about to embark on a tour of Michigan’s top college towns, where academic achievement meets exciting community life.
Whether you’re an undergrad hunting down the perfect apartment in Ann Arbor or a career academic searching for your forever home in Grand Rapids, you’ll find everything you need and more in the Mitten State.
Ann Arbor is home to the University of Michigan, known for its exceptional academics. The College of Engineering stands out with programs in aerospace, biomedical, and mechanical engineering. The medical school is top-notch, attracting future doctors and researchers from all over. Additionally, the Ross School of Business offers comprehensive programs in finance, marketing, and entrepreneurship, preparing students for the corporate world.
The University of Michigan and Ann Arbor share a strong bond. Many local businesses collaborate with the university, providing internships and job opportunities for students. The Michigan Medicine Health System, a major employer in the area, partners with the university on research and clinical training.
Apartments near University of Michigan | Houses for rent near University of Michigan
Michigan State University is the pride of East Lansing, especially noted for its agricultural and business programs. The College of Agriculture and Natural Resources offers cutting-edge research in sustainable farming and food science. The Eli Broad College of Business is renowned for its programs in supply chain management and hospitality management. MSU’s College of Communication Arts and Sciences is also highly regarded, with strong programs in journalism and media studies.
MSU’s connection with East Lansing is evident in various community partnerships. The Wharton Center for Performing Arts puts on professional productions and student performances. Local farms collaborate with the university’s agricultural programs, providing students with practical experience in sustainable practices.
Apartments near Michigan State University | Houses for rent near Michigan State University
Western Michigan University is known for its standout programs in aviation and engineering. The College of Aviation provides comprehensive training in pilot and technical operations, often collaborating with major airlines. WMU’s engineering programs, including electrical and mechanical engineering, are highly respected. The Irving S. Gilmore School of Music is another highlight, offering a range of programs from performance to music therapy.
WMU has deep roots in Kalamazoo, fostering numerous community connections. The College of Aviation partners with local airports and flight schools, giving students hands-on experience. Engineering students often engage in projects that benefit the local infrastructure and businesses. The university’s musical events, like the annual Gilmore Piano Festival, draw students and community members, promoting a shared appreciation for the arts.
Apartments near Western Michigan University | Houses for rent near Western Michigan University
Eastern Michigan University is a cornerstone of Ypsilanti, with highly regarded programs in education and business. The College of Education is known for producing skilled and prepared teachers and administrators. The College of Business offers diverse programs in accounting, management, and marketing. EMU’s nursing program also receives high marks, providing rigorous training for future healthcare professionals.
EMU’s relationship with Ypsilanti is strong. The College of Education partners with local schools to provide student teaching opportunities, enhancing the quality of education in the area. The College of Business connects with local startups and businesses through the Michigan Innovation HQ.
Apartments near Eastern Michigan University | Houses for rent near Eastern Michigan University
5. Marquette – Northern Michigan University
Population: 20,629 | Student population: 7,214| Average 1-bedroom rent: $850
Northern Michigan University is primarily known for education, nursing, and biology. The School of Education offers specialized programs in special education and early childhood education. The nursing program is highly rated, with state-of-the-art simulation labs. NMU’s biology department is known for its focus on environmental science and wildlife biology.
NMU’s connection to Marquette is integral to the town’s identity. The nursing program collaborates with local healthcare providers, enhancing practical training and community health. Biology students often work with local nature reserves and environmental organizations, gaining hands-on experience in conservation and research. The university’s Center for Rural Community and Economic Development helps drive local initiatives, fostering economic growth and sustainability.
Apartments near Northern Michigan University | Houses for rent near Northern Michigan University
Grand Valley State University has a significant presence in Grand Rapids. The Seidman College of Business offers robust programs in finance, entrepreneurship, and supply chain management. The College of Health Professions includes top-tier programs in physical therapy, physician assistant studies, and nursing. GVSU’s engineering program is also respected, with specializations in product design and manufacturing.
GVSU’s ties to Grand Rapids are extensive. The health sciences department collaborates closely with local hospitals and clinics, providing students with valuable clinical experience. Business students often intern with downtown companies, integrating their academic learning with practical work.
Apartments near Grand Valley State University | Houses for rent near Grand Valley State University
Central Michigan University is particularly well known for its strong education and journalism programs. The College of Education offers comprehensive training for future teachers and administrators. The School of Broadcast and Cinematic Arts is well known for its programs in journalism, broadcasting, and film production. Health sciences, including physical therapy and physician assistant programs, are also popular.
CMU’s partnership with Mount Pleasant is evident. The College of Education works with local schools to provide student teaching and professional development opportunities. Journalism students often help cover local news, producing content for the university and local media outlets.
Apartments near Central Michigan University | Houses for rent near Central Michigan University
Michigan Technological University is renowned for its engineering and computer science programs. The College of Engineering offers top-rated programs in mechanical, electrical, and civil engineering. The computer science department is known for its research in cybersecurity and software engineering. Michigan Tech also excels in environmental science, with a focus on sustainability and conservation.
Michigan Tech’s connection to Houghton is strong and multifaceted. Engineering students often work on local infrastructure projects, applying their skills to real-world challenges. The computer science department collaborates with local tech companies, providing students with internship and job opportunities. Environmental science students partner with nearby nature reserves and research facilities, contributing to conservation efforts and gaining practical experience.
Apartments near Michigan Technological University | Houses for rent near Michigan Technological University
Methodology
College towns are qualified as towns or cities with at least one college or university and fewer than 250,000 people according to U.S. Census data. Average rental data from Rent.com in May 2024.
This is not a comprehensive list of all of the towns and cities in the state meeting those requirements.
Inside: Learn what 35 an hour is how much a year, month, and day. Plus tips to budget your money. Don’t miss the ways to increase your income.
You’re probably wondering if I made $35 a year, how much do I truly make? What will that add up to over the course of the year when working?
Is my $35 an hour take-home pay compared to others in my industry? Is $35 an hour paycheck a good salary?
First of all, this is a wage you can actually live on and should be able to thrive and reach your financial goals. Annually $35 an hour should help you to breathe easier with your finances. You might wonder how can I start to increase my hourly wage to $40, $45 or $50 per hour?
Many of the hourly jobs that pay over $35 an hour do not require a degree, which is great news! Those paid on a salary basis tend to have a college degree and do not even calculate their hourly wage.
In this post, we’re going to detail exactly what $35 an hour is how much a year. Also, we are going to break it down to know how much is made per month, bi-weekly, per week, and daily.
That will help you immensely with how you spend your money. Because too many times the hard-earned cash is brought home, but there is no actual plan for how to spend that money.
By taking a step ahead and making a plan for the money, you are better able to decide how you want to live, make sure that you put your money goals first, and not just living paycheck to paycheck struggling to survive.
The ultimate goal with money success is to be wise with how you spend your money.
If that is something you want too, then keep reading. You are in the right place.
$35 an Hour is How Much a Year?
When we ran all of our numbers to figure out how much is $35 per hour is as an annual salary, we used the average working day of 40 hours a week.
40 hours x 52 weeks x $35 = $72,800
$72,800 is the gross annual salary with a $35 per hour wage.
As of June 2023, the average hourly wage is $33.58 (source).
Let’s break down how that number is calculated.
Typically, the average workweek is 40 hours and you can work 52 weeks a year. Take 40 hours times 52 weeks and that equals 2,080 working hours.
Then, multiply the hourly salary of $35 times 2,080 working hours, and the result is $72,800.
That number is the gross income before taxes, insurance, 401K, or anything else is taken out. Net income is how much you deposit into your bank account.
At this salary, you are just below $75000 salary which is above the average $60000 salary threshold. Also, you are slowly coming closer to a $90000 salary.
Work Part Time?
But you may think, oh wait, I’m only working part-time. So if you’re working part-time, the assumption is working 20 hours a week at $35 an hour.
Only 20 hours per week. Then, take 20 hours times 52 weeks and that equals 1,040 working hours. Then, multiply the hourly salary of $35 times 1,040 working hours, and the result is $36,400.
Part Time (20 hours) = $36400
How Much is $35 Per Month?
On average, the monthly amount would average $6,067.
Annual Amount of $72,800 ÷ 12 months = $6,067 per month
Since some months have more days and fewer days like February, you can expect months with more days to have a bigger paycheck. Also, this can be heavily influenced by how often you are paid and on which days you get paid.
This helps a financially stable person manage their finances without a bunch of stress. And if you are making above the average income worker and still stressing about money, then you need to learn to drastically cut your expenses.
Work Part Time?
Only 20 hours per week. Then, the monthly amount would average $3,033.
How Much is $35 per Hour Per Week
This is a great number to know! How much do I make each week? When I roll out of bed and do my job, what can I expect to make at the end of the week?
Once again, the assumption is 40 hours worked.
40 hours x $35 = $1,400 per week.
Work Part Time?
Only 20 hours per week. Then, the weekly amount would be $700.
How Much is $35 per Hour Bi-Weekly
For this calculation, take the average weekly pay of $1,400 and double it.
$1,400 per week x 2 = $2,800
Also, the other way to calculate this is:
40 hours x 2 weeks x $35 an hour = $2,800
Work Part Time?
Only 20 hours per week. Then, the bi-weekly amount would be $1,400.
How Much is $35 Per Hour Per Day
This depends on how many hours you work in a day. For this example, we are going to use an eight-hour workday.
8 hours x $35 per hour = $280 per day.
If you work 10 hours a day for four days, then you would make $350 per day. (10 hours x $35 per hour)
Work Part Time?
Only 4 hours per day. Then, the daily amount would be $140.
This post may contain affiliate links, which helps us to continue providing relevant content and we receive a small commission at no cost to you. As an Amazon Associate, I earn from qualifying purchases. Please read the full disclosure here.
e-Printables Free ebook
Curious about selling printables on Etsy but don’t know where to start?
Get the secret list of best-selling products by month and learn you how to capitalize on seasonal trends to make sales.
Download Now
$35 Per Hour is…
$35 per Hour – Full Time
Total Income
Yearly Salary(52 weeks)
$72,800
Yearly Salary (50 weeks)
$70,000
Monthly Salary (173 hours)
$6,067
Weekly Wage (40 Hours)
$1,400
Bi-Weekly Wage (80 Hours)
$2,800
Daily Wage (8 Hours)
$280
Net Estimated Monthly Income
$4,632
**These are assumptions based on simple scenarios.
Paid Time Off Earning 35 Dollars an Hour
Does your employer offer paid time off?
As an hourly employee, you may or may not get paid time off.
So, here are the scenarios for both cases.
For general purposes, we are going to assume you work 40 hours per week over the course of the year.
Case # 1 – With Paid Time Off
Most hourly employees get two weeks of paid time off which is equivalent to 2 weeks of paid time off.
In this case, you would make $72,800 per year.
This is the same as the example above for an annual salary making $35 per hour.
Case #2 – No Paid Time Off
Unfortunately, not all employers offer paid time off to their hourly employees. While that is unfortunate, it is best to plan for less income.
Life happens. There will be times you need to take time off for numerous reasons – sick time, handling an emergency, or even vacation.
So, let’s assume you take 2 weeks off without paid time off.
That means you would only work 50 weeks of the year instead of all 52 weeks. Take 40 hours times 50 weeks and that equals 2,000 working hours. Then, multiply the hourly salary of $35 times 2,000 working hours, and the result is $70000 per year.
40 hours x 50 weeks x $35 = $70,000
You would average $280 per working day and nothing when you don’t work.
$35 an Hour is How Much a year After Taxes
Let’s be honest… Taxes can take up a big chunk of your paycheck. Thus, you need to know how taxes can affect your hourly wage.
Also, every single person’s tax situation is different.
On the basic level, let’s assume a 12% federal tax rate and a 4% state rate. Plus a percentage is taken out for Social Security and Medicare (FICA) of 7.65%.
Gross Annual Salary: $72,800
Federal Taxes of 12%: $8,736
State Taxes of 4%: $2,912
Social Security and Medicare of 7.65%: $5,569
$35 an Hour per Year after Taxes: $55,583
This would be your net annual salary after taxes.
To turn that back into an hourly wage, the assumption is working 2,080 hours.
$55,583 ÷ 2,080 hours = $26.72 per hour
After estimated taxes and FICA, you are netting $26.72 an hour. That is $8.28 an hour less than what you thought you were paid.
This is a very highlighted example and can vary greatly depending on your personal situation. Therefore, here is a great tool to help you figure out how much your net paycheck would be.
Plus budgeting on a just over $25 an hour wage is much different.
$35 an Hour Salary
Now, you get to figure out how much you make based on your hours worked or if you make a wage between $35.01-35.99.
If you make 70000 a year, learn how much house you can afford.
This is super helpful if you make $35.23 or $35.85.
You are probably wondering can I live on my own making 35 dollars an hour? How much rent or mortgage payment can you afford at 35 an hour?
Using our Cents Plan Formula, this is the best-case scenario on how to budget your $35 per hour paycheck.
When using these percentages, it is best to use net income because taxes must be paid.
In this example, above we calculated $35 an hour was $26.72 after taxes. That would average $4,631.90 per month.
According to the Cents Plan Formula, here is the high-level view of a $35 per hour budget:
Basic Expenses of 50% = $2316
Save Money of 20% = $926
Give Money of 10% = $463
Fun Spending of 20% = $926
Debt of 0% = $0
For someone making over $70K gross annually, this should be completely doable assuming there is no debt involved. The risk most people find themselves in is lifestyle creep and keeping up with the Joneses.
You can be strategic with your saving and investing to quickly become the millionaire next door. Then, that will allow a level of time freedom you have never experienced.
To further break down an example budget of $35 per hour, then using the ideal household percentages is extremely helpful.
recommended budget percentages based on $35 per hour wage:
Category
Ideal Percentages
Sample Monthly Budget
Giving
10%
$576
Savings
15-25%
$1031
Housing
20-30%
$1456
Utilities
4-7%
$243
Groceries
5-12%
$425
Clothing
1-4%
$27
Transportation
4-10%
$243
Medical
5-12%
$303
Life Insurance
1%
$21
Education
1-4%
$33
Personal
2-7%
$91
Recreation / Entertainment
3-8%
$182
Debts
0% – Goal
$0
Government Tax (including Income Taxes, Social Security & Medicare)
15-25%
$1435
Total Gross Income
$6,067
**This is a sample budget. You can adjust your categories based on your personal situation.
Can I Live off $35 Per Hour?
At this $35 hourly wage, you are making more than $70K per year. Slowly climbing to 6 figures and you should live comfortably on this annual salary.
This is well over the median income of $60,000 salary. That means you should be able to increase your savings percentage each year and live better than 80% of the world.
The question is, are you? Or are you straddled in debt? Struggling and living paycheck to paycheck?
Unfortunately, too many people are still struggling even though they are making nearly 4x the minimum wage.
Should living on $70K be doable? Absolutely.
Don’t be caught in a tough situation. You need to live below your means. If not, you are wasting too much of your hard-earned cash.
Can you truly live off $35 an hour annually?
Just like any wage… you must spend less than your income. Plus consistently save.
If you are constantly struggling to keep up with bills and expenses, then you need to break that constant cycle.
Be smart with money.
You need to do is change your money mindset.
This is what you say to yourself… Okay, I am blessed to make more than the average worker. So, I must live on that paycheck or find ways to start diversifying my income into multiple streams and start investing. Then, I am going to give back to what helped me to get where I am today.
In the next section, we will dig into ways to increase and diversify your income, but for now, is it possible to thrive on $35 an hour?
Yes, you can do it, and as you can see it is possible with the sample budget of $35 per hour.
Living in a higher cost of living area would be more difficult. So, you may have to get a little creative. For example, you might have to have a roommate. Move to a lower cost of living area where rent is cheaper.
Also, you must evaluate your “fun spending” items. Many of those expenses are not mandatory and will break your budget. You can find plenty of free things to do without spending money.
5 Ways to Increase Your Annual Salary
This right here is the most important section of this post.
Even though, you are making good money. You might have reached a maximum ceiling of income in your field. You may need to change companies.
More often than not, you need to find ways to diversify your income. One type of income will get you far in your personal finance journey, but to truly see faster progress you need multiple streams of income.
Finding ways to increase your monthly paycheck by $500 or $1000 will add up over the year.
At this point, you want to look for at least a $1 increase to $36 an hour, $37 an hour, $38 an hour, $39 an hour, or $40 an hour.
1. Find Alternative Ways to Make Money
In today’s society, you need to find ways to make more money. Period.
There is no way to get around it. You need to find additional income outside a traditional nine-to-five position or typical 40 hour a week job. You will reach a point where you are maxed on what you can make in your current position or title. There may be some advancement to move forward, but in many cases, there just is not much room for growth.
So, you need to find a side hustle – another way to make money.
Do something that you enjoy, turn your hobby into a way to make money, turn something that you naturally do, and help others into a service business. In today’s society, the sky is the limit on how you can earn a freelancing income.
Must Read: 20 Genius Ways on How to Make Money Fast
2. Earn Passive Income
This can be from a variety of ways including the stock market, real estate, online courses, book sales, etc. This is where the differentiation of struggling financially to becoming financially stable.
By earning money passively, you are able to do the things that you enjoy doing and not be loaded down, with having a job that you need to work, and a place that you have to go to. And you still make money doing nothing.
Here is an example:
You can start a brokerage account and start trading stocks for $50. You need to learn and take the one and only investing class I recommend. Learn how the market works, watch videos, and practice in a simulator before you start using your own money.
Related Reading: How Fast Can you Make Money in Stocks? The Real Answer
3. Become a Freelancer
When you make $35 an hour, you are good at your job. You know what you are doing and people are willing to pay you for it.
Pick up side jobs and spend your free time as a freelancer.
This is one of the best ways to make extra money without a lot of upfront effort or costs.
I know plenty of people who make a living as freelance writer.
The options are endless if you are willing to think outside of the box.
4. Ask for a Raise
The first thing to do is ask for a raise. Walk right in and ask for a raise because you never know what the answer will be until you ask.
If you want the best tips on how specifically to ask for a raise and what the average wage is for somebody doing your job, then check out this book. In this book, the author gives you the exact way to increase your income. The purchase is worth it or go down to the library and check that book out.
If that does not pan out, then look for a new job. Maybe a completely new industry.
It might be a total change for you, but many times, if you want to change your financial situation, then that starts with a career change. Maybe you’re stressed out at work. Making $35 an hour isn’t worth it for you if you’re not able to enjoy life; maybe changing jobs and finding another job may increase your pay, but it will also increase your quality of life.
5. Find a New Career
Because of student loans, too many employees feel like they are stuck in the career field they chose. They feel sucked into the job that they don’t like or have the potential they thought it would.
For many years, I was in the same situation until I decided to do a complete career change. I am glad I did. I have the flexibility that I needed in my life to do what I wanted when I needed to do it. Plus I am able to enjoy my entrepreneurial spirit.
Tips to Live on $35 an Hour
In this last section, grasp these tips on how to live on $35 an hour. On our site, you can find lots of money saving tips to help stretch your income further.
Here are the most important tips to live on $35 an hour. More importantly stretch how much you make, in case you are in the “I don’t want to work anymore” mindset. Highlight these!
1. Spend Less Than you Make
First, you must learn to spend less than you make.
If not you will be caught in the debt cycle and that is not where you want to be. You will be consistently living paycheck to paycheck.
In order to break that dreadful cycle, it means your expenses must be less than your income.
And when I say income, it’s not the $35 an hour. As we talked about earlier in the post, there are taxes. The amount of taxes taken out of your paycheck is called your net income which is $35 an hour minus all the taxes, FICA, Social Security, and Medicare is taken out. That is your net income.
So, your net income has to be less than your gross annual income.
2. Living Below Your Means
You need to be happy. And living on less can actually make you happier. Studies prove that less is better.
Finding contentment in life is one thing that is a struggle for most.
We are driven to want the new shiny toy, the thing next door, the stuff your friend or family member got. Our society has trained you that you need these things as well.
Have you ever taken a step back and looked at what you really need?
Once you are able to find contentment with life, then you are going to be set for the long term with your finances.
Here is our story on owning less stuff. We have been happier since.
3. Make More Money
If you want if you do not settle for less, then find ways to make more money. If you want more out of life, then increase your income.
You need to be an advocate for yourself.
Find ways to make more money.
It could be a side hustle, a second job, asking for a raise, going to school to change careers, or picking up extra hours.
Whatever path you take, that’s fine. Just find ways to make more money. Period.
4. Make Saving Money Fun
You need to make saving money fun. If you’re good, since you must keep your expenses low, you have to find ways to make your savings fun!
Find new ways of saving money and have fun with it.
Even better, get your family and kids involved in the challenge to save money. Tell them the reason why you are saving money and this is what you are doing.
Here are things to do with no money. Free activities without costing you a dime. That is an amazing resource for you and you will never be bored.
And you will learn a lot of things in life you can do for free. Personally, some of the best ones are getting outside and enjoying some fresh air.
5. No State Taxes
Paying taxes is one option to increase what you take home in each paycheck.
These are the states that don’t pay state income taxes on wages:
Alaska
Florida
Nevada
New Hampshire
South Dakota
Tennessee
Texas
Washington
Wyoming
It is very interesting if you take into account the amount of state taxes paid compared to a state with income taxes.
Also, if you live in one of the higher taxed states, then you may want to reconsider moving to a lower cost of living area. The higher taxes income tax states include California, Hawaii, New Jersey, Oregon, Minnesota, the District of Columbia, New York, Vermont, Iowa, and Wisconsin. These states tax income somewhere between 7.65% – 13.3%.
6. Stick to a Budget
You need to learn how to start a budget. We have tons of budgeting resources for you.
While creating a budget is great, you need to learn how to use one.
You do not have to budget down to every last penny.
You need to make sure your expenses are less than your income and that you are creating sinking funds for those irregular expenses.
Budget Help:
7. Pay Off Debt Quickly
The amount that you pay interest on debt is absolutely absurd.
Unfortunately, that is how many of these companies make their money is from the interest you pay on debt.
If you are paying 5% to even 20-21% or higher, you need to find ways to lower that debt quickly.
Here’s a debt calculator to help you. Figure out your debt-free date.
Make that paying off debt fast is your target and main focus. I can tell you from personal experience, that it was not until we paid off our debt that we finally rounded the corner financially. Once our debt was paid off, we could finally be able to save money and set money aside in separate bank accounts and pay for cash for things.
It took us working hard to pay off debt. We needed persistence and patience while we had setbacks in our debt-free journey.
Jobs that Pay $35 an Hour
You can find plenty of jobs that pay $35 per hour. Polish up that resume, cover letter, and interview skills.
Job Search Hint: Always send a written follow-up thank you note for your interview. That will help you get noticed and remembered.
First, look at the cities that require a minimum wage in their cities. That is the best place to start to find jobs that are going to pay higher than the federal minimum wage rate. Many of the cities are moving towards this model so, target and look for jobs in those areas.
Possible Ideas:
$35 Per Hour Annual Salary
In this post, we detailed 35 an hour is how much a year. Plus all of the variables that can impact your net income. This is something that you can live off.
How much is 35 dollars an hour annually…
$78,200
Very close to earning a $80000 salary. In this post, we highlighted ways to increase your income as well as tips for living off your wage.
Use the sample budget as a starting point with your expenses.
You will have to be savvy and wise with your hard-earned income. But, with a plan, anything is possible!
Still thinking I don’t want to work anymore, you aren’t alone and need to start to plan for your early retirement.
Know someone else that needs this, too? Then, please share!!
Did the post resonate with you?
More importantly, did I answer the questions you have about this topic? Let me know in the comments if I can help in some other way!
Your comments are not just welcomed; they’re an integral part of our community. Let’s continue the conversation and explore how these ideas align with your journey towards Money Bliss.
Welcome to Florida, where you’ll find some of the top college towns in the country! Each town featured below provides students and locals with everything they need to thrive in their higher education journey and their lives afterward.
Whether you’re a student-athlete looking for a sweet apartment in Gainesville or a newly tenured professor hoping to find the perfect house in Tampa, Florida has you covered. So, let’s dive into eight standout college towns in the Sunshine State that are sure to impress.
The University of Florida is known for its engineering, business, and health sciences programs. These majors attract students from all over the country. The engineering program is particularly strong, with a focus on innovation and research. Business students benefit from a comprehensive curriculum that includes entrepreneurship and international business. Health sciences offer a range of specialties, from nursing to public health, preparing students for various careers in the medical field.
The university has strong ties with the Gainesville community. Students often intern at local tech companies and hospitals, making real-world connections early on. UF Innovate is a hotspot for startups, offering students a chance to work on cutting-edge projects. Local hospitals like UF Health provide hands-on experience for health science students.
Apartments near University of Florida | Houses for rent near University of Florida
Florida State University excels in criminology, psychology, and music programs. These programs are some of the best in the nation. The criminology program is renowned for its research output and comprehensive curriculum. Psychology students engage in various research projects, gaining a deep understanding of human behavior. The music program, with its state-of-the-art facilities, nurtures talent and creativity, attracting students who are determined to carve out a career for themselves in the arts.
FSU has deep roots in the Tallahassee community. Many students work with state government offices and local non-profits, gaining valuable experience. The university’s proximity to the state capitol provides unique opportunities for political science and public administration students.
Apartments near Florida State University | Houses for rent near Florida State University
The University of Central Florida boasts top programs in hospitality management, engineering, and computer science. The hospitality management program is one of the largest and most respected in the world. Engineering students have access to cutting-edge labs and research opportunities. The computer science program focuses on emerging technologies, preparing students for careers in a rapidly evolving industry.
Orlando offers UCF students internships and jobs at theme parks, tech companies, and hospitals. These opportunities give students hands-on experience. Companies like Disney and Universal Studios collaborate with UCF, offering internships and job placements. The city’s growing tech scene provides numerous opportunities for engineering and computer science students.
Apartments near University of Central Florida | Houses for rent near University of Central Florida
The University of Miami is renowned for its marine science, law, and business programs. The marine science program leverages Miami’s coastal location for hands-on research. Law students benefit from a curriculum that includes international law and human rights. The business school offers various specializations, from finance to marketing, preparing students for a range of career paths.
Coral Gables offers students internships and networking opportunities. The university’s connections with local industries are strong. Students often find internships at major corporations, law firms, and marine research institutes. Miami’s legendary nightlife also provides numerous opportunities for those interested in the entertainment industry. These connections help students build a professional network that can be invaluable after graduation.
Apartments near University of Miami | Houses for rent near University of Miami
The University of South Florida in Tampa is known for its medical, engineering, and business programs. These areas of study are highly rated. The medical program includes a leading research hospital, providing students with hands-on clinical experience. Engineering students have access to advanced labs and collaborative projects. The Muma College of Business offers a variety of concentrations, including entrepreneurship and global business, equipping students with a broad skill set.
USF students secure internships at local hospitals, engineering firms, and corporations. The university’s partnerships with these institutions are beneficial. Tampa General Hospital is a key partner, offering internships and research opportunities for medical students. Local engineering firms collaborate with USF on various projects, giving students practical experience. Needless to say, the business community in Tampa is supportive of the USF student body.
Apartments near University of South Florida | Houses for rent near University of South Florida
Florida Atlantic University excels in ocean engineering, business, and nursing programs. These majors are among the best in Florida. The ocean engineering program focuses on marine technology and research. Business students benefit from a curriculum that includes finance, marketing, and management. The nursing program is known for its rigorous training and high pass rates on certification exams.
FAU’s connections with Boca Raton’s tech companies and hospitals provide students with internships and job opportunities. The collaboration is significant. Students often intern at local tech firms, working on innovative projects. Boca Raton Regional Hospital offers clinical placements for nursing students, enhancing their practical skills. The business community in Boca Raton works hand in hand with FAU, offering coveted opportunities for students to gain real-world experience before their four years are up.
Apartments near Florida Atlantic University | Houses for rent near Florida Atlantic University
Flagler College in St. Augustine is known for its stellar programs in education, business, and graphic design. The education program focuses on preparing teachers for diverse classroom settings. Business students receive a solid foundation in various disciplines, including accounting and marketing. The graphic design program nurtures creativity, with students working on real-world projects and building impressive portfolios.
The college has partnerships with schools, businesses, and design firms all around St. Augustine. Students gain practical experience through these connections. Education students often intern at local schools, gaining valuable classroom experience. Graphic design students collaborate with design firms, working on actual projects that enhance their portfolios and practical skills.
Apartments near Flagler College | Houses for rent near Flagler College
Florida Gulf Coast University in Fort Myers offers top programs in environmental science, business, and nursing. The environmental science program emphasizes sustainability and conservation, preparing students for careers in these fields. The nursing program provides comprehensive training, ensuring graduates are well-prepared for the healthcare industry.
FGCU students frequently intern at local environmental organizations and healthcare facilities. The university’s ties to these institutions are strong. Internships at environmental agencies allow students to apply their knowledge in real-world settings. Local hospitals and clinics offer nursing students practical experience. The business community in Fort Myers also supports FGCU, providing numerous opportunities for internships and full-time jobs after graduation.
Apartments near Florida Gulf Coast University | Houses for rent near Florida Gulf Coast University
Methodology
College towns are qualified as towns or cities with at least one college or university and fewer than 450,000 people according to U.S. Census data. Average rental data from Rent.com in May 2024.
This is not a comprehensive list of all of the towns and cities in the state meeting those requirements.
Todman said the bulk of demand comes from millennials forming families, planning to own homes and not wanting to pay rent anymore. But they face competition from large institutional investors in the housing market.
“There’s been a fair amount of supply that’s been removed from inventory when we think about the large institutional investors who are buying and selling single-family homes. And that’s not a criticism but an observation,“ Todman said. “There is a number of the short-term rental market that has also taken a lot of typically available homes off the market as well.“
Adrianne Todman
Todman said that HUD has a role in incentivizing the private marketplace to build more starter homes through its programs and grants. It’s working in partnership with mayors and the U.S. Department of the Treasury. But there’s also a need to make sure people can access these homes, including “a whole generation of Black and brown people who are completely left out.“
Before joining HUD, Todman was the CEO of the National Association of Housing and Redevelopment Officials (NAHRO) from 2017 to June 2021. She also served as executive director of the District of Columbia Housing Authority (DCHA).
Todman is succeeding Marcia Fudge, who announced her resignation from office on March 11. Fudge has since joined law firm Taft as a partner and chair of public policy.
“I mentioned before: I’m a practitioner. I like to look at rules and make a determination on which ones make a whole lot of sense and which ones are just there for the sake of being a rule,“ Todman said. She added that she’s working with the Biden administration on streamlining things and having the rules either “harmonize together or just get out of the way.“
One of the most recent steps by HUD was to double the fee paid to servicers for assumable mortgages to $1,800. These government-backed loans allow qualified buyers to purchase a home by assuming responsibility for the sellers’ mortgage terms, including the current balance and interest rate. It can make sense in the current environment since a buyer can assume a seller’s 2% to 4% mortgage rather get a new one at 7%.
HUD is ensuring that “we’re getting our money out the door,“ Todman said.
But, according to Todman, the current problem is that “we’ve not had a housing strategy for this country,“ which is essential since the housing market has been “a roller coaster.“ The responsibility for this should be on the departments “with housing in their names,“ she added.
“One truth is that housing isn’t Democrat or Republican. Everybody needs it,“ Todman said. “There are questions about how to get there. But at the end of the day, when I talk to my conservative friends, I think that there’s more alignment about what we need for housing … and maybe disagreements about the product.“
Todman mentioned the Neighborhood Homes Tax Credit, which the Biden administration announced during the president’s State of the Union address in March. The credit would be directed to “build or renovate affordable homes for homeownership, which would lead to the construction or preservation of over 400,000 starter homes.“
This tax credit would be a “means to propel into a better supply situation,“ but we “can’t get a bill from Congress,“ Todman said.
Arizona isn’t just about stunning desert landscapes and soaring cacti. It’s also packed with some of the coolest college towns in the country. Whether you’re a tenured professor looking for your forever home in Tucson or a rising sophomore searching for the perfect apartment in Glendale, you’ll find what you’re looking for in the Grand Canyon State.
Ready to explore Arizona’s top college spots? Let’s dive in! From buzzing nightlife to quiet study spots, there’s something here for everyone.
Arizona State University is known for its engineering and business programs, making ASU a top choice for many students. The W.P. Carey School of Business consistently ranks among the best, offering extensive resources for budding entrepreneurs and future business leaders. The Ira A. Fulton Schools of Engineering also get a lot of attention, especially for their innovative research and hands-on learning opportunities.
Tempe and ASU have strong ties that benefit students and the community equally. Students often intern at local tech companies, gaining real-world experience that complements their studies. The Tempe Town Lake area offers recreational activities and job opportunities, making it a popular spot for students.
Apartments near Arizona State University | Houses for rent near Arizona State University
The University of Arizona is the heart of Tucson. UA’s College of Optical Sciences is world-renowned, attracting students from around the globe. The Eller College of Management also stands out, especially for its entrepreneurship program, which is designed to equip students with the skills needed to launch their own businesses.
Tucson and the University of Arizona share a close relationship that enhances the student experience. The city’s tech industry benefits from UA’s research initiatives, with many startups emerging from university projects. Plus, downtown Tucson is a hotspot for student-friendly activities and events, from music festivals to food truck rallies, ensuring there’s always something to do.
Apartments near University of Arizona | Houses for rent near University of Arizona
You’ll find Northern Arizona University in picturesque Flagstaff. NAU is famous for its forestry and environmental sciences programs, reflecting the surrounding natural beauty. The College of Health and Human Services also offers top-notch programs in nursing and physical therapy.
Flagstaff and NAU have a symbiotic relationship. Students often participate in local environmental projects, like forest restoration and water conservation efforts. The town is prime for outside activities, like hiking and skiing, complementing NAU’s emphasis on environmental studies outside of the classroom.
Apartments near Northern Arizona University | Houses for rent near Northern Arizona University
4. Prescott – Embry-Riddle Aeronautical University
Prescott is home to Embry-Riddle Aeronautical University, a leader in aviation and aerospace education. This university excels in aviation and aerospace engineering, with students often going on to work for major airlines and aerospace companies. The global security and intelligence studies program is also highly respected, preparing students for careers in national security and intelligence.
Prescott’s aviation industry benefits greatly from Embry-Riddle’s presence. Many students intern at local airports and aviation companies, gaining hands-on experience that is invaluable for their future careers.
Apartments near Embry-Riddle | Houses for rent near Embry-Riddle
Midwestern University is renowned for its health sciences programs. This includes osteopathic medicine and pharmacy, both of which are excellent. The veterinary program is also a standout, attracting students who are passionate about animal care.
Glendale and Midwestern University collaborate extensively to benefit students and the community. Students often intern at local clinics and hospitals, gaining practical experience. The city’s community health initiatives frequently involve the university, with students participating in health fairs and educational outreach programs.
Apartments near Midwestern University | Houses for rent near Midwestern University
Scottsdale Community College is known for its excellent programs in culinary arts and hospitality management. The college also offers solid programs in business and computer science. SCC’s hands-on approach to learning ensures that students are well-prepared for their future careers.
Scottsdale and SCC are deeply connected through various partnerships and community initiatives. The local hospitality industry thrives on SCC graduates, with many students finding internships and jobs in the city’s renowned restaurants and resorts. Community events, like food festivals and cooking competitions, often feature SCC’s culinary students, showcasing their skills and creativity.
Apartments near Scottsdale Community College | Houses for rent near Scottsdale Community College
Arizona Western College is known for its strong agriculture and nursing programs. AWC’s emphasis on practical, hands-on learning ensures that students gain the type of valuable skills and experience that make finding a job possible.
Yuma and AWC have strong connections that benefit students and the local community. The city’s agricultural industry commonly hires AWC students, providing them with real-world experience and job opportunities. Local hospitals and clinics offer internships for nursing students, allowing them to apply their classroom knowledge in a clinical setting.
Apartments near Arizona Western College | Houses for rent near Arizona Western College
Methodology
College towns are qualified as towns or cities with at least one college or university and fewer than 650,000 people according to U.S. Census data. Average rental data from Rent.com in May 2024.
This is not a comprehensive list of all of the towns and cities in the state meeting those requirements.
Welcome to the charming city of Bend, Oregon, where the stunning Cascade Mountains provide a breathtaking backdrop for outdoor enthusiasts and nature lovers. With its vibrant arts scene, thriving craft beer culture, and an abundance of outdoor recreational activities, Bend offers a unique blend of urban amenities and natural beauty. Whether you’re drawn to an apartment in Bend’s bustling downtown area or a rental home in the serene neighborhoods nestled along the Deschutes River, Bend has something to offer for everyone.
In this Apartment Guide article, we’ll cut to the chase, breaking down the pros and cons of moving to Bend, Oregon. Let’s get started and see what awaits in this outdoor paradise.
Pros of living in Bend, OR
1. Outdoor paradise
Bend is a haven for outdoor enthusiasts, with its proximity to the Cascade Mountains and the Deschutes River. Drake Park, which stretches 13 acres along the banks of the Deschutes through downtown Bend, is a highlight. Residents can enjoy a wide range of outdoor activities, including hiking, mountain biking, skiing, and rock climbing. The city’s numerous parks and trails offer breathtaking views and opportunities for adventure, making it an ideal location for nature lovers.
2. Craft beer scene
With numerous breweries offering a diverse selection of locally brewed beers, Bend has a thriving craft beer scene. Residents can explore the Bend Ale Trail, which features over 20 breweries, each with its own unique atmosphere and flavors. The city’s beer culture fosters a sense of community and provides a vibrant social scene for beer enthusiasts.
3. Vibrant arts and culture
Bend boasts a vibrant arts and culture scene, with numerous galleries, art festivals, and live music venues. The city’s First Friday Art Walk allows residents to explore local art and connect with the creative community. Additionally, the Tower Theatre hosts a variety of performances, from live music to theater productions, providing residents with diverse cultural experiences.
4. Thriving food scene
Bend offers a diverse and thriving food scene, with a wide range of restaurants, food carts, and farmers’ markets. Residents can savor farm-to-table dining experiences, sample international cuisines, and enjoy local specialties at restaurants like Dear Irene and Ariana. The city’s culinary landscape reflects its commitment to sustainability and quality, making it a paradise for food enthusiasts.
5. Strong sense of community
Bend fosters a strong sense of community, with residents actively participating in local events, volunteer opportunities, and community initiatives. The city’s friendly and welcoming atmosphere creates a supportive environment for individuals and families, promoting a sense of belonging and connection.
6. Abundance of outdoor recreation
Bend offers an abundance of outdoor recreation opportunities, with access to world-class skiing, snowboarding, and snowshoeing in the winter, and hiking, fishing, and paddleboarding in the summer. The city’s natural beauty and diverse landscapes provide endless possibilities for adventure and exploration, making it an ideal location for outdoor enthusiasts.
Cons of living in Bend, OR
1. Limited job opportunities
One of the challenges of living in Bend is the limited job opportunities, particularly in certain industries. The city’s economy is primarily driven by tourism and outdoor recreation, which may not offer as many career options for professionals in other fields. Residents may need to explore remote work or consider commuting to nearby cities for employment.
2. Seasonal tourism impact
Bend experiences a significant influx of tourists during peak seasons, which can impact the local infrastructure, traffic, and availability of resources. Residents may find it challenging to navigate crowded areas and may experience fluctuations in the availability of services and amenities during peak tourist periods.
3. Harsh winter weather
Bend’s winter weather can be harsh, with heavy snowfall and cold temperatures. The city gets an average of 30+ inches of snow annually. While this may be appealing to winter sports enthusiasts, it can also pose challenges for daily commuting, outdoor activities, and overall comfort during the colder months. Residents need to be prepared for the winter climate and its potential impact on daily life.
4. Distance from major cities
Bend is located at a distance from major cities, which may result in longer travel times for residents needing access to specific amenities, services, or entertainment options. Travel from Bend to major cities such as Salem and Portland takes more than 2 hours. While the city offers a unique and serene environment, the distance from larger urban centers may pose challenges for those seeking a more metropolitan lifestyle.
5. Limited public transportation
Bend’s public transportation system is relatively limited, which may pose challenges for residents who rely on public transit for their daily commute or travel needs. The city’s infrastructure primarily caters to private vehicles, and residents may find it challenging to navigate the city without access to a personal vehicle.
6. Water scarcity concerns
Bend faces water scarcity concerns, particularly during dry seasons, which may impact water usage and conservation efforts. Residents need to be mindful of water consumption and adhere to local regulations to ensure sustainable water management in the region.
7. Cost of living
The cost of living in Bend is high compared to other cities in Oregon. The city has been growing in popularity over recent years, as renters flock to Bend for its access to stunning natural beauty and year-round recreational opportunities. The average rent for a 2 bedroom apartment in Bend is $2,175, higher than nearby Sisters ($1,295) and even Portland ($1,887).
Inside: Making money is one thing, but saving it is another. Learn how to save 10000 in a year using the following steps. Plus download your free printable!
The number of people who do not save money is growing at a rapid pace. The economy has changed and many families are struggling to make ends meet, even with two incomes.
That is why saving $10,000 in one year can seem like an impossible goal for some people.
You can save $10,000 in a year.
This has been proven over and over here at Money Bliss.
This has happened because my readers dedicated themselves to one of our money savings challenges.
A lot of people are interested in saving more money right now, but not everyone can afford to save a lot of money. You do not need a ton of income to be successful, you just need to dedicate yourself to new habits of saving.
The thing is – money doesn’t grow on trees, and I wouldn’t recommend waiting for one either if you want your savings plan to be successful.
Are you ready to be the next Money Bliss success story to save 10000 dollars in a year?
If so, then you are in the right place. Let’s create your 10000 saving plan.
How to Save $10000 in One Year
It’s not as difficult to save $10,000 in one year as you may think. All it takes is a few small changes, creating a plan, and some careful budgeting.
The first step is to start saving money.
This can be done by paying yourself first. Decide on the amount you want to save each pay period. Then, you prioritize your savings before all of your expenses and money runs out
Next, you have to decide where to save your money.
Will you put the money into an online savings account where the temptation goes away?
Or invest in your future with a Roth IRA and/or 401k?
Where can you grow your savings over time?
Do not underestimate the power of your employer match contribution. If they offer this option for retirement savings or another type of investment account like Roth IRA or 401K, take advantage by contributing the maximum your plan allows each pay period.
Finally, you have to make sure you are living below your means with your increased saving rate.
These are all the fine details to make sure you learn how to save $10,000 in one year with cutting expenses.
Don’t forget to set up automatic transfers for all of your savings so they’ll be taken care of even when you don’t do it!
Shortly, you will find savings tips to help you save $10,000. The exact steps you need to do to save your first $10K or whether you want to do it again.
Breakdown How to Save 10000 Dollars in a Year:
But, first how much do you have to save to hit that 10K milestone in a year?
To save $10,000 in one year, you must set aside an average of $833.33 per month for 12 months.
Don’t quit reading now and walk away! You are reading this post for a reason. So, you will reach your saving challenge goal.
Let’s break that monthly number down into bit-size chunks.
Daily:
$27.40
Weekly:
$192.31
Bi-Weekly:
$384.62
Monthly:
$833.33
Bi-Monthly:
$416.67
Quarterly:
$2,500.00
Places to Save $10K in a Year
Your goal for the year is to save $10,000.
First, decide where you want to put this dollar bump in savings.
Everyone is at a stage in their financial journey, so what you choose will be completely different than someone else.
Here are some ideas:
Also, you may likely divide up your $10K savings into more than one bucket!
What are the ways you plan on saving $10,000?
Tips to help you Save $10000
According to the Federal Reserve, only half of Americans have retirement accounts.1
This means that most people will retire broke. Yikes!
The only way to achieve a comfortable lifestyle is by saving, investing, and planning for your future.
You can save $10,000 in one year if you make a goal and try your best. It will take some effort as it is not easy to do so, but the rewards are worth it.
If there’s anything that we know for certain about living life well, then this is: “you must be willing to work hard.”
So, what are some practical steps that you can take to save money? Let’s start with the first one.
1. Mindset
The purpose of this personal challenge is to help you save $10,000 in one year.
To save $10,000, you probably cannot continue doing what you are already doing when it comes to saving money.
You need to change your money mindset and your money habits.
There are a few key steps you need to take in order to save money. The first step is to have a proper mindset towards your savings – figure out where all of your money is going, then figure out whether or to what degree you’re living as you can afford it.
The next step is you believe that you are capable of saving money. That is the bigger part of the battle for most. It is believing that are incapable of saving that much money.
If you haven’t heard of a vision board, then you must create one ASAP. And don’t forget those money affirmations.
2. Automate Savings
Automating savings is a great way to save money.
It can be done by setting up automatic transfers from your checking account or even transferring funds from your paycheck into an emergency fund that you will never touch.
This allows for more freedom in spending without having to think about if you saved your goal for that pay period.
With direct deposit, you will save money automatically and the temptation to spend drastically goes down.
If direct deposit is unavailable, you could set up an automatic transfer with your bank.
3. Focus on Saving Goal
All of your money decisions revolve around your goal of saving 10000 dollars.
That is the smart financial goal you have created for yourself. Now, that is your #1 focus.
Here is how to believe you will save $10k before you start:
Tell yourself over and over that you will save $10K by (insert your date).
Post reminders about your goal.
Put a sticky note on your debit or credit cards and/or cash envelopes.
Find an accountability partner.
Review your habits that make saving more different.
All in all, you have to stay dedicated and commit to your saving goal.
4. Budgeting
Budgeting allows you to save money and reduce stress.
It is important to take the time and create a budget that works for your needs to minimize spending and maximize savings.
When you sit down and take a hard look at your budget, it is easier to make cuts and prioritize what needs the most attention.
In this case, your goal for the next year is to save 10000 dollars!
Don’t skip this step! You must pay yourself first to reach your 10k goal.
5. Biggest Expenses
We are talking about your biggest fixed expenses – housing, transportation, and food.
Big moves are difficult, but they produce big results. Downsizing or moving to a cheaper place is drastic, but it can save you thousands of dollars in the long run.
Other options include renting out space in your home on Airbnb, negotiating with your landlord, and taking other measures to reduce housing expenses.
Although it is now more uncommon for families to have only one car, that is a great way to save money on a depreciating asset and ongoing maintenance costs.
Refinancing a car payment or trading in your set of wheels for an affordable ride will help you keep up with the latest trends without breaking the bank. You could also save on gas by doing your own maintenance.
In order to save some money, you should start meal planning and save money on food. You can also eat out less and use coupons or cash back apps for your grocery shopping.
Buying in bulk is a great way to get cheaper prices on certain items, but it might be too much of a hassle if you’re unsure about what kind of foods work best with each other–and there’s always the possibility that they’ll go bad before their expiration date!!
6. Increase Your Income
When you increase your income, the sky is virtually your limit. There are various ways to accomplish this goal but each way comes with its own set of risks and rewards.
The best way to increase your income is by taking on a second job. Even better, negotiate or find a new job that pays more and increases your income.
The next possible way to make money is from a side hustle or an online business, such as Amazon FBA, Etsy, eBay flipper, Rover, or affiliate marketing. This will allow you to be your own boss and work from home.
Check out the best ways to make money online for beginners.
People who want to save $10,000 in a year should increase their income. To do that, you must find ways to earn more money.
Don’t forget that you always want your money to make money! This is called passive income.
It is possible to make more money on your business than you make more money in your current job or career.
7. Track Progress
It’s important to track progress with goals. This will help you see the journey and milestones of your savings.
To track progress, download our free $10000 printable and check off boxes as you hit milestones.
Before you can reach $10,000 in savings, you must first reach smaller amounts such as $500, $1,000, or $5,000.
8. Celebrate Milestones
You can decide what to reward yourself with, but it’s important to celebrate each win by rewarding yourself somehow.
Plan your milestones and rewards in advance.
That way you have the motivation to keep going and know that you can afford your milestone.
Some examples:
$500 = Ice cream treat out
$1000 = Take out from your favorite place
$2500 = Something you want, but haven’t wanted to splurge.
$5000 = Halfway point! Celebrate with dinner out.
$7500 = Plan an experience gift like ziplining or rock climbing.
$10000 = A hotel night and dinner to celebrate with your significant other or friends.
Now, come out with your own milestones and rewards that match your lifestyle and desires.
Bonus Tip – Get Out of Debt
Saving money becomes way easier once you have paid off all debts (excluding mortgage).
This can be accomplished by prioritizing your loans, paying down the highest-interest loan, and then moving on to the next one.
Once you’re free from debts, it’s time for some simple adjustments in your spending habits that will help save thousands over a year.
Debt will always hold you back on your financial journey until you enjoy a debt free life!
How to save $10000 fast
So, you want to save $10,000 in a year?
Many of the methods listed above will help you save $10,000. But, let’s add ways to get your results faster!
You can do it!
At first glance, this might seem like an impossible task but with these tips and tricks, it’s not too hard to set your budget up so that you’ll be able to afford everything from a vacation abroad in your future.
The key is finding ways around spending money on things such as coffee, clothes, and other small luxuries so you can save the most money.
Here is a list of ways to save $10,000 in one year:
Cut your spending on coffee by 90%
Eliminate cable TV from your life for a month
Stop using taxis or public transportation when possible
Avoiding credit card debt.
Living with roommates instead of buying a house.
Get rid of all unnecessary subscriptions
Stop buying coffee at Starbucks or other coffee shops
Don’t buy anything with coupons unless it’s something you really need
Stop eating out
Cook your own food at home
Figure out what you spend the most on in a month and cut back by 20%
Sell any unused items you have in your home
Spend $5 per meal. Frugal meals are good!
Creates grocery list to limit eating out
Live like a thrifty person
Try a no spend challenge
Compare what is happening with your savings goals
Eliminate fees
Be careful with your money. Stop buying things that you don’t need and start living more simply. Do you really need that new iPhone?
Think about purchases over $25, specifically whether or not it’s worth it
Save for a set purchase instead of buying things as you go
Limit all impulse buys
For more ideas, check out our 200+ Frugal Living Tips.
There are some faster methods above that will get the job done quicker than just saving for 12 months.
Saving money isn’t as hard as you think it is. All it takes is some creativity and a little bit of willpower.
How to Save $10000 in a Year with Envelopes
Envelopes are a great way to save money. They allow you to collect interest on the cash you have saved in your account. Envelopes make it easy for people without much financial knowledge to save.
Since you are saving such a large amount of money, it is best to use an online budgeting app that works well with the envelope method.
To save money, you need to know how much you have saved with the 10k in 100 days challenge.
Tracking your progress is a good way of doing this and can be done by using envelopes with the amount inside that corresponds to what total savings count towards each goal.
Download Your 10000 Dollars Printable
Saving up $10,000 can be difficult and it’s not easy to know what to do. The tricky part is learning how to sustain those savings for the long run.
To help you show you how to save on a consistent basis, you can download one of our free $10000 printables.
When you sign up, you will have access to these free money saving challenge printables!
How to Save 10000 in 6 Months
Okay, you are determined to speed up your $10k savings!
That is awesome!
All you have to do is double how much you are saving each pay period.
To save $10,000 in 6 months, you must set aside an average of $1,666.67 per month for 6 months.
Daily:
$54.65
Weekly:
$384.62
Bi-Weekly:
$769.23
Monthly:
$1,666.67
Bi-Monthly:
$833.33
Quarterly:
$5,000.00
How to Save $10000 in 3 Months
Saving $10,000 in 3 months is a difficult task but not impossible. Here are some suggestions:
-Start saving money as soon as you can and work your way up to $10,000.
-House hacking is a must. Buy a house and rent out the rooms for extra income. Live with parents. Another great option is house sit and be paid for your housing!
-Rent out your car (or sell it) in order to save on gas costs.
If your goal is to aggressively save $10000 in three months, then you must drastically reduce all expenses.
To save $10,000 in three months, you must set aside an average of $3,33.33 per month for three months or in a period of 90 days.
Daily:
$111.11
Weekly:
$833.33
Bi-Weekly:
$1,666.67
Monthly:
$3,333.33
Bi-Monthly:
$1,666.67
Quarterly:
$10,000.00
How to Save $10000 in 2 Years
Saving 10000 dollars in a year is a little more aggressive than you believe possible. That is completely okay.
It does not matter how long it takes you to save $10000 as long as you complete the saving money challenge!
To save $10,000 in two years, you should start by saving at least 10% of your income every month. Then you can invest that money into index funds or other investment options to maximize your wealth.
To save $10,000 in 2 years you must set aside an average of $416.67 per month for two years or $5000 per year.
Daily:
$13.70
Weekly:
$96.15
Bi-Weekly:
$192.31
Monthly:
$416.67
Bi-Monthly:
$208.33
Quarterly:
$1,250.00
Are you Ready to Save 10000 Dollars?
A money saving challenge is a competition with the goal of finding ways to save money.
The best way to save money is through baby steps.
To start, you can take a look at your current financial situation and identify the areas of opportunity for savings. For example, if you’re struggling with debt or have an expensive monthly budget, then it’s time to find ways to reduce spending in these areas.
Once you’ve identified some opportunities for savings and created a plan accordingly, make sure that your progress doesn’t slow down by using tools like automatic saving plans and paperless billing.
Money saved in the long run will be worth it and you should participate in any of our money saving challenges.
The key point about saving money is not having too many goals as it will make it difficult to prioritize which ones are more important than others when trying to save more.
This is a simple guide for saving money, and it’s designed to help you save $10,000 in a year. Next up, is learning how to save 20000 in a year.
We have included tips on how to save money, but more importantly, change your finances for the long term.
Related Money Saving Challenges:
Source
Federal Reserve. “Changes in U.S. Family Finances from 2019 to 2022.” https://www.federalreserve.gov/publications/october-2023-changes-in-us-family-finances-from-2019-to-2022.htm. Accessed January 22, 2024.
Know someone else that needs this, too? Then, please share!!
Did the post resonate with you?
More importantly, did I answer the questions you have about this topic? Let me know in the comments if I can help in some other way!
Your comments are not just welcomed; they’re an integral part of our community. Let’s continue the conversation and explore how these ideas align with your journey towards Money Bliss.
Do you want to learn how to turn $10,000 into $100,000? Growing $10,000 into $100,000 might seem kind of impossible or far-fetched, but with the right mindset and plans, it could be a reality. Whether you want to make extra income, run a full-time business, or if you are just looking to learn how to…
Do you want to learn how to turn $10,000 into $100,000?
Growing $10,000 into $100,000 might seem kind of impossible or far-fetched, but with the right mindset and plans, it could be a reality.
Whether you want to make extra income, run a full-time business, or if you are just looking to learn how to turn your $10K into $100K quickly, there are many options that may interest you.
Best Ways To Turn $10,000 Into $100,000
Below are the best ways to turn $10,000 into $100,000.
Recommended reading: How To Turn $1,000 Into $10,000
1. Start an online business
Starting an online business could be a game-changer in growing your $10,000 to $100,000.
I started an online business years ago, and it has paid me well over $100,000 over the years, so I know that this is possible.
Here are some ideas for online businesses:
Here are some ideas for in-person businesses that you advertise for online but still get to work from home or on your own schedule:
Sell dog treats – Sell baked dog treats that you make. Learn more at How I Earned Up to $4,000 Per Month Baking Dog Treats (With Zero Baking Experience!).
Car detailing – Sell a mobile car-cleaning service where you go to the customer.
Meal prep – Help people eat healthily with pre-prepared meals that you deliver or they pick up.
Lawn care – Sell gardening or landscape services.
Dog walking – Take care of pets for busy owners. Learn more at 7 Best Dog Walking Apps To Make Extra Money.
Tutoring – Share your knowledge in a subject and teach others online or in person.
Local tour guide – Use your local knowledge to guide visitors around your town.
Starting a business doesn’t have to be expensive either. Typically, all you need for most of the businesses listed above is small affordable pieces of equipment or a few supplies (like a laptop or cleaning tools).
2. Start a blog
Starting a blog can be a great option if you’re looking to grow your $10,000 into $100,000.
A blog is a website where you can share your thoughts, knowledge, or experiences. You write posts that people can read, interact with, and share. And yes, you can make money from blogging!
I make money online by blogging, and I actually didn’t spend any money to start. It took me about 2 years to begin earning $10,000 every month.
And, I have now earned over $5,000,000 with my blog over the years.
I began my website, Making Sense of Cents, in 2011, and I started my blog without much planning, just wanting to share my own money journey, not even realizing that people could make money with websites.
So, how do you earn money through a blog? Here are some ways:
Ad revenue – Place ads on your blog and earn every time a reader clicks or views the ad.
Affiliate marketing – Recommend products and earn a commission if your readers buy through your links.
Selling products – Create and sell your ebooks or courses.
Services – Sell your expertise as a service such as consulting or coaching.
Blogging is a process that requires patience, but with consistent effort, making $100,000 from your blog may be possible.
You can learn how to start a blog with my free How To Start a Blog Course (sign up by clicking here).
3. Invest in real estate
There are many ways to turn $10,000 into $100,000 in real estate.
I’ve done some real estate side hustles myself, and I know many others who do too. Getting into real estate doesn’t have to cost a lot, and there are several side hustles in real estate that you can start even if you’re new or have limited money to work with.
These include:
House hacking – Buy a home, live in part of it, and rent out the rest. This could include renting out a duplex (and living in the other half) or even just a spare room in your house. This way, the rent you receive helps pay your mortgage. Look for multi-unit properties where you can live in one part and rent out the others.
Long-term rental property – You could buy a property and rent it out to long-term renters, such as for a year or longer.
REITs (Real Estate Investment Trusts) – Invest in REITs, which are companies that own and manage real estate properties. By investing in REITs, you can spread your money across different properties without having to manage them yourself.
Airbnb rentals – Rent out a spare room or your entire place to travelers through Airbnb. Make your space cozy and welcoming to attract guests. Make sure to check local laws about renting out your place and set a competitive price.
Rent out storage space – Rent out any unused land or space for storage. Whether it’s a parking spot, closet, basement, attic, or any unused area, people are willing to pay for storage. List your space on platforms like Neighbor to earn extra income.
Flip homes – While flipping homes usually requires more than $10,000 to start, it’s a popular way to turn a small investment into a larger profit. If you’re skilled and enjoy renovation projects, buy a house, fix it up, and sell it for a higher price.
Recommended reading: 23 Best Real Estate Side Hustles To Make Extra Money
4. Invest in the stock market
Investing in stocks means buying a piece of a company like Walmart, Apple, or Amazon. The price of individual stocks can go up or down, and if it goes up, you might turn $10,000 into $100,000.
I, for example, prefer long-term investing. I diversify my investment portfolio, meaning I spread it out across different companies. This way, if one company doesn’t do well, I don’t lose all my money.
One way to diversify is by investing in funds like exchange-traded funds or mutual funds. These are collections of stocks bundled together, which can lower your risk compared to investing in individual stocks.
How quickly you can turn $10,000 into $100,000 depends on the market and the stocks or funds you choose. It could take a year or decades. Patience is key.
This is a screenshot I took from Investor.gov of their compound interest calculator.
If you are wanting to invest in the stock market, with an average return of 8%, it might take about 30 years to reach $100,000 without additional contributions. You may be able to shave some years off that by automatically reinvesting dividends, though (if you are invested in dividend stocks). This is great, though, and shows the power of compound interest.
Note: Some people choose short-term investing to make money quickly in the stock market. However, this approach requires thorough research on your investment decisions, understanding various fees, knowing your risk tolerance, and more before opening a brokerage account. While the right strategy can sometimes lead to profits, the wrong one can mean that you lose a lot of money.
Recommended reading: How To Start Investing For Beginners With Little Money
5. Flip items for resale
Turning $10,000 into $100,000 might seem impossible, but one way to work toward this goal is by flipping items for profit. You can start by looking around your home for things you no longer use or even items that people are trying to get rid of.
You might be surprised by how much money you can make by selling items like old phones, laptops, clothes, and even furniture that you no longer need.
I’ve personally flipped many items for resale over the years, and it can be a good way to earn extra cash!
Here are some ideas:
Sell electronics and furniture – Websites like Craigslist and Facebook Marketplace are great for selling bigger items like furniture because you can arrange easy local pickups.
Fashion and accessories – Platforms like eBay or Facebook Marketplace are good for selling clothes, especially if they’re branded. These sites help you reach a wide audience and make shipping easy. For jewelry you don’t wear, sites like Worthy can help you find them a new home.
Yard sales – Yard sales can be a fast way to earn money, especially if you have many items to sell. While you might not make as much money for each item, the total can still add up nicely!
If you want to take it a step further, you can start buying items to flip for a profit. Look for furniture that needs a bit of cleaning, high-end clothing that needs repair, or appliances that need new parts. Fix them up and sell them for a higher price.
I have a friend who does this for a living, and some of their best flips include:
Buying an item for $10 and selling it for $200 just 6 minutes later.
Purchasing a security tower for $6,200 and selling it for $25,000 just one month later.
Buying a prosthetic leg for $30 at a flea market and selling it for $1,000 on eBay the next day.
They’ve even found a free chair and eventually did so many flips directly from that free chair and made over $100,000! You can learn more at How We’ve Turned A Free Chair Into $103,000.
10
This free workshop will teach you how to get into the flipping business. It will teach you how to resell furniture, electronics, appliances, and anything else you can find.
6. Buy an established business
One way to possibly turn $10,000 into $100,000 is by buying a business.
Investing $10,000 in buying an existing business could potentially grow your investment to $100,000. When you buy a business, you’re entering into an established cash flow and you don’t have to start from scratch because the business already has customers, a recognized name, and ongoing operations.
And, you might find a business where you can see clear ways to improve it, which means that you can improve your investment.
This is actually close to the line of work I was in before I started Making Sense of Cents – I was an investment analyst and valued businesses (among other investments) for a living. So, I saw a lot of businesses be bought and sold over the years.
Here are some steps to start with when it comes to buying a business:
Look around – Search for businesses on sale.
Ask questions – Why is the owner selling?
Research – Look for businesses that match your interests and talents. You will do better in a business you like!
Talk money – See if the numbers make sense.
Get help – A business adviser can help you understand the details.
Make a deal – If it looks good, start the buying process.
Buying a business is a BIG decision, but with the right one, your $10,000 investment could turn into $100,000. I do highly recommend getting professional advice from a financial advisor before making a business or asset purchase to make sure you make a smart choice.
Recommended reading: Are Laundromats Profitable? How Much Do Laundromats Make?
7. Sell on Etsy
Etsy can be a great place for you to turn your $10,000 into $100,000 by selling items online.
You can start your own Etsy store with products you make or find. People love buying unique things like handmade crafts, vintage items, and custom art.
Selling digital products is one of my favorite ways to make money because it requires much less than $10,000 to start. Creating digital products is a way to possibly even earn passive income. By designing products that people can download and use, you enter a market with very low overhead costs.
Some digital product ideas include templates for social media branding, weekly routine printables, printable wall art, and more.
Do you want to make money selling printables online? This free training will give you great ideas on what you can sell, how to get started, the costs, and how to make sales.
8. Peer-to-peer lending
When you have $10,000 that you want to grow, you might want to consider peer-to-peer (P2P) lending. This is when you lend your money online and receive it back with interest. It’s similar to being a bank, but you’re lending to individual people instead.
Starting with peer-to-peer lending works like this:
Find a reputable P2P platform that suits your needs.
Deposit your $10,000 to fund loans.
Before committing, make sure to read and understand all terms and conditions, such as the potential earnings, risks, and interest rates.
The interest you earn from these peer-to-peer loans becomes your profit over time.
Remember, investing involves risks, and loans may not be repaid, which can affect your return.
9. Invest in crypto
Cryptocurrency, like Bitcoin, is not something that I personally invest in, but it can be a way to possibly grow your money.
Remember:
To use money you’re okay with risking
That there’s no guaranteed win
To always play it safe with your hard-earned cash
This digital money can sometimes be like a roller coaster – sometimes it goes up, sometimes it goes down. But if you make wise decisions, it could help grow your cash.
10. Flip websites for profit
Flipping websites can be a way to increase your $10,000 into a much larger amount. It’s similar to renovating and selling houses, but it’s done online.
I know several people who have bought websites with the goal to flip too!
You can start by searching for a website to purchase, such as by searching listings on Flippa. Look for sites with potential but require improvement. They should cover a solid topic but may need improvements in things like content, design, or improving page views.
Recommended reading: How I’ve Made $80,000 Selling Blogs
11. Start a YouTube channel
Starting a YouTube channel can be a fun and creative method to grow your $10,000 investment. It will most likely cost you less than $10,000 to start a YouTube channel, but there are ways to spend that amount of money to get started faster (such as buying a course on YouTube or buying expensive camera equipment).
Let’s simplify the process into easy steps:
Choose a topic – Pick something you love or know a lot about.
Create your channel – Sign up on YouTube and set up a channel for free.
Make videos – Use a camera or smartphone to record your videos.
Grow your channel – Post regularly, share your videos on social media, and more.
Monetize your channel – When you get 1,000 subscribers and 4,000 hours of watch time, you can apply for the YouTube Partner Program.
Recommended reading: 22 Ways To Make Money Online Without Paying Anything
12. Turn $10K into $100K through education
One great way to turn your money into more is to learn through higher education, whether that be college, a certificate, or learn a trade.
You can start by looking for jobs with a strong outlook and high salaries, and even by using online resources or talking to a career advisor to find the best fit for you.
Then, you’ll want to pick a reputable college or trade school. You’ll want to factor in the cost and the potential return on your investment. Community colleges or public schools can be more affordable, for example.
Now, there are many costs when it comes to going back to school. There is tuition, books, lab fees, parking, and more. It most likely may end up costing you more than $10,000 to go back to school, but if you choose a solid career path and are smart with your college costs, then it could be a wise step.
Frequently Asked Questions
Below are answers to common questions about how to turn $10,000 into $100,000.
How long does it take to turn $10,000 into $100,000?
The time it takes to turn $10,000 into $100,000 depends on your investment strategy and the rate of return. If you are wanting to invest in the stock market, with an average return of 8%, it might take about 30 years to reach $100,000 without additional contributions. But, if you buy an existing business, go back to school and get a higher-paying career, or start your own business, then you may be able to turn $10,000 into $100,000 even quicker.
What is the fastest way to turn $10K into $100K?
The fastest way to multiply your money could be high-risk investments like day trading stocks or real estate flipping. Remember, high rewards come with high risks, so be careful with any fast-growing strategies.
How to turn $10K into $100K in a month?
Turning $10K into $100K in a month is extremely risky and unlikely. Most investments that promise such quick returns are highly speculative, so you could lose your money just as fast. I highly recommend that you be careful if someone tells you that they can help you turn $10,000 into $100,000 in one month.
How to turn $10K into $100K in a year?
Turning $10K into $100K within a year involves high risk and aggressive investment approaches as well, but it is possible. This may include buying an existing business and really putting in some hard work to improve it.
How to turn $10K into $100K in 2 years?
Yes, you can be able to turn $10,000 into $100,000 in 2 years. This could be through ways such as starting your own online business (such as by selling digital products or a blog), buying an existing business, or even going back to school to get a higher-paying job.
How to turn $10K into $100K in 5 years?
Yes, you can potentially turn $10,000 into $100,000 in 5 years. This could be achieved through different methods such as starting your own online business (like selling digital products or creating a blog), purchasing an existing business, or even furthering your education to find a higher-paying job.
Can you turn $10K into a million?
Yes, you may be able to turn $10,000 into $1,000,000, but this will most likely take a lot of time. So, patience is key!
How to Turn $10,000 into $100,000 – Summary
I hope you enjoyed this article on how to turn $10,000 into $100,000.
To make more money from your $10,000 investment, you may want to think about using the internet to start a business. Websites like Etsy can help you sell handmade items, or you can make money from a blog or YouTube channel. You can also try traditional ways of investing, like buying stocks or real estate. You can be very involved, like flipping houses, or less involved, like putting money into peer-to-peer lending or high-interest savings accounts.
As you can see, there are many different investment options and business models depending on your financial goals and risk tolerance.
Indiana is home to more than a few great college towns. Each one has its own unique charm and character. Whether you’re an undergrad looking for an apartment in South Bend or a newly tenured professor hoping to find a house in Muncie, Indiana has something for everyone.
In this guide, we’ll take a virtual tour of 11 of the top college towns in Indiana. This will provide a comprehensive look at the standout programs and local connections that make these towns so special.
Bloomington is home to Indiana University (IU). IU is primarily known for the Kelley School of Business and Jacobs School of Music. The Kelley School of Business offers top-ranked undergraduate and MBA programs, drawing students interested in finance, marketing, and entrepreneurship. The Jacobs School of Music is one of the best in the country, attracting talented musicians from around the world.
The university has strong ties to the town, creating a buzzing community. Local businesses often partner with IU for internships and job placements, providing students with valuable work experience. The town’s bustling downtown area is filled with student-friendly spots, from cafes to bookstores, making it easy for students to integrate into the community and stick around for the summer.
Apartments near Indiana University | Houses for rent near Indiana University
West Lafayette is where you’ll find Purdue University. Purdue is renowned for its engineering and agriculture programs. The College of Engineering is highly respected, offering programs in aerospace, mechanical, and electrical engineering. The College of Agriculture is a leader in agricultural research, with programs that address global food security and sustainability. Purdue’s emphasis on research and innovation attracts students who are passionate about making a difference in their fields.
Many local tech startups are founded by Purdue graduates, contributing to the town’s economic growth. West Lafayette hosts university events, like career fairs and tech expos, which strengthen the bond between students and the local community.
Apartments near Purdue University | Houses for rent near Purdue University
South Bend is famous for the University of Notre Dame. Notre Dame excels in law and business programs. The Law School is competitive and prepares students for successful careers in various legal fields. The Mendoza College of Business is highly rated, providing programs in finance, management, and entrepreneurship. These prestigious programs attract students who are committed to academics and professional success.
The university’s impact on the town is significant. Notre Dame supports local schools and community projects, contributing to the town’s development. The university’s football games and concerts draw large crowds, benefiting local businesses. This strong connection between Notre Dame and South Bend fosters a palpable sense of community support.
Apartments near Notre Dame | Houses for rent near Notre Dame
Indiana State University is known for its education and nursing programs. The Bayh College of Education offers comprehensive teacher preparation programs, while the College of Health and Human Services provides top-notch nursing education. These programs equip students with the skills needed to succeed in their chosen careers, making ISU a top choice for aspiring educators and healthcare professionals.
The university and Terre Haute collaborate on many levels, creating a supportive environment. ISU students often volunteer in local schools and hospitals, gaining practical experience while helping the community.
Apartments near Indiana State University | Houses for rent near Indiana State University
Muncie is home to Ball State University. Ball State’s architecture and telecommunications programs are highly respected. The College of Architecture and Planning offers innovative programs in urban planning, landscape architecture, and interior design. The College of Communication, Information, and Media provides cutting-edge programs in journalism, telecommunications, and public relations.
Ball State has a close relationship with Muncie, fostering a strong sense of community. Students often engage in community projects for classes or on their own accord, gaining hands-on experience while making a positive impact.
Apartments near Ball State University | Houses for rent near Ball State University
The University of Evansville has stellar physical therapy and business programs. The Doctor of Physical Therapy program is highly regarded, preparing students for successful careers in healthcare. The Schroeder School of Business offers comprehensive programs in accounting, finance, and marketing. These programs provide students with a solid foundation and the skills needed to excel at the next level.
The connection between UE and Evansville is evident. Local businesses partner with the university for internships, giving students practical experience and job opportunities. Community members participate in campus events, like lectures and performances, creating a progressive and cohesive community.
Apartments near University of Evansville | Houses for rent near University of Evansville
Fort Wayne is home to Purdue University Fort Wayne. The university is known for its nursing and business programs. The College of Health and Human Services offers comprehensive nursing programs, while the Doermer School of Business provides programs in management, marketing, and finance.
Fort Wayne benefits from its relationship with the university, creating a collaborative atmosphere. Local healthcare facilities often hire graduates, providing them with valuable career opportunities. Community projects frequently involve university students and staff, fostering a sense of teamwork and civic engagement.
Apartments near Purdue University Fort Wayne | Houses for rent near Purdue University Fort Wayne
Richmond hosts Earlham College. Earlham is known for its liberal arts and social sciences programs. The college offers highly rated programs in psychology, sociology, and political science, encouraging critical thinking and social responsibility. These programs attract students who are passionate about understanding and addressing societal issues.
Earlham and Richmond have a symbiotic relationship, creating a close-knit community. Students often get local internships and do volunteer work, gaining practical experience while contributing to the betterment of the town.
Apartments near Earlham College | Houses for rent near Earlham College
Crawfordsville is home to Wabash College. Wabash is an all-male school that offers rigorous programs in history, English, and pre-medical studies, providing students with a well-rounded education.
The college and Crawfordsville support each other, creating a strong community bond. Wabash students volunteer in local organizations and the town enjoys participating in college events.
Apartments near Wabash College | Houses for rent near Wabash College
DePauw University is known for its music and communication programs. The School of Music offers comprehensive programs in performance, music education, and composition. The Media Fellows Program provides hands-on experience in journalism, broadcasting, and public relations.
DePauw and Greencastle share a strong connection. Students frequently volunteer in the community, make connections with local professionals, and often stay in the area after their four years are up.
Apartments near DePauw University | Houses for rent near DePauw University
Hanover College is known for its political science and environmental science programs. The college offers comprehensive programs that prepare students for careers in public policy, law, and environmental management.
Students take part in local environmental projects, gaining practical experience while contributing to sustainability efforts. Hanover locals participate in college events, like lectures and workshops, boosting the bond between locals and students.
Apartments near Hanover College | Houses for rent near Hanover College
Methodology
College towns are qualified as towns or cities with at least one college or university and fewer than 300,000 people according to U.S. Census data. Average rental data from Rent.com in May 2024.
This is not a comprehensive list of all of the towns and cities in the state meeting those requirements.
Inside: Learn what 24 an hour is how much a year, month, and day. Plus tips to budget your money. Don’t miss the ways to increase your income.
You’re probably wondering if I made $24 a year, how much do I truly make? What will that add up to over the course of the year when working? Is $24 an hour good?
Is this wage something that I can actually live on? Or do I need to find ways that I can increase my hourly wage? How much more is $24.50 an hour annually?
When you finally start earning $24 an hour, you are happy with your progress as an hourly employee. Typically, this is when many hourly employees start to become salaried workers.
In this post, we’re going to detail exactly what $24 an hour is how much a year. Also, we are going to break it down to know how much is made per month, bi-weekly, per week, and daily.
That will help you immensely with how you spend your money. Because too many times the hard-earned cash is brought home, but there is no actual plan for how to spend that money.
By taking a step ahead and making a plan for the money, you are better able to decide how you want to live, make sure that you put your money goals first, and not just living paycheck to paycheck struggling to survive.
The ultimate goal with money success is to be wise with how you spend your money.
Knowing 24 dollars an hour is how much a year will help you manage money wisely.
If that is something you want too, then keep reading. You are in the right place.
$24 an Hour is How Much a Year?
When we ran all of our numbers to figure out how much is $24 per hour is as an annual salary, we used the average working day of 40 hours a week.
40 hours x 52 weeks x $24 = $49,920
$49,920 is the gross annual salary with a $24 per hour wage.
As of June 2023, the average hourly wage is $33.58 (source).
Let’s break down how that number is calculated
Typically, the average workweek is 40 hours and you can work 52 weeks a year. Take 40 hours times 52 weeks and that equals 2,080 working hours. Then, multiply the hourly salary of $24 times 2,080 working hours, and the result is $49,920.
That number is the gross income before taxes, insurance, 401K, or anything else is taken out. Net income is how much you deposit into your bank account.
That is just under the $50000 salary threshold, but lower than the 60K salary, which is desired to become middle-income worker.
Work Part Time?
But you may think, oh wait, I’m only working part-time. So if you’re working part-time, the assumption is working 20 hours a week at $24 an hour.
Only 20 hours per week. Then, take 20 hours times 52 weeks and that equals 1,040 working hours. Then, multiply the hourly salary of $24 times 1,040 working hours, and the result is $24,960.
How Much is $24 Per Month?
On average, the monthly amount would average $4,160.
Annual Amount of $49,920 ÷ 12 months = $4,160 per month
Since some months have more days and fewer days like February, you can expect months with more days to have a bigger paycheck. Also, this can be heavily influenced by how often you are paid and on which days you get paid.
Plus by increasing your wage from $20 an hour, you average an extra $8320 per year. So, yes a few more dollars an hour add up!
Work Part Time?
Only 20 hours per week. Then, the monthly amount would average $2,080.
How Much is $24 per Hour Per Week
This is a great number to know! How much do I make each week? When I roll out of bed and do my job, what can I expect to make at the end of the week?
Once again, the assumption is 40 hours worked.
40 hours x $24 = $960 per week.
Work Part Time?
Only 20 hours per week. Then, the weekly amount would be $480.
How Much is $24 per Hour Bi-Weekly
For this calculation, take the average weekly pay of $960 and double it.
$960 per week x 2 = $1,920
Also, the other way to calculate this is:
40 hours x 2 weeks x $24 an hour = $1,920
Work Part Time?
Only 20 hours per week. Then, the bi-weekly amount would be $960.
How Much is $24 Per Hour Per Day
This depends on how many hours you work in a day. For this example, we are going to use an eight-hour workday.
8 hours x $24 per hour = $192 per day.
If you work 10 hours a day for four days, then you would make $240 per day. (10 hours x $24 per hour)
Work Part Time?
Only 4 hours per day. Then, the daily amount would be $96.
This post may contain affiliate links, which helps us to continue providing relevant content and we receive a small commission at no cost to you. As an Amazon Associate, I earn from qualifying purchases. Please read the full disclosure here.
$24 Per Hour is…
$24 per Hour – Full Time
Total Income
Yearly (52 weeks)
$49,920
Yearly (50 weeks)
$48,000
Monthly (173 hours)
$4,160
Weekly (40 Hours)
$960
Bi-Weekly (80 Hours)
$1,920
Daily Wage (8 Hours)
$192
Net Estimated Monthly Income
$3,176
**These are assumptions based on simple scenarios.
Paid Time Off Earning 24 Dollars an Hour
Does your employer offer paid time off?
As an hourly employee, you may or may not get paid time off.
So, here are the scenarios for both cases.
For general purposes, we are going to assume you work 40 hours per week over the course of the year.
Case # 1 – With Paid Time Off
Most hourly employees get two weeks of paid time off which is equivalent to 2 weeks of paid time off.
In this case, you would make $49,920 per year.
This is the same as the example above for an annual salary making $24 per hour.
Case #2 – No Paid Time Off
Unfortunately, not all employers offer paid time off to their hourly employees. While that is unfortunate, it is best to plan for less income.
Life happens. There will be times you need to take time off for numerous reasons – sick time, handling a family emergency, or even vacation.
So, let’s assume you take 2 weeks off without paid time off.
That means you would only work 50 weeks of the year instead of all 52 weeks. Take 40 hours times 50 weeks and that equals 2,000 working hours. Then, multiply the hourly salary of $24 times 2,000 working hours, and the result is $48000.
40 hours x 50 weeks x $24 = $48,000
You would average $192 per working day and nothing when you don’t work.
$24 an Hour is How Much a year After Taxes
Let’s be honest… Taxes can take up a big chunk of your paycheck. Thus, you need to know how taxes can affect your hourly wage.
Also, every single person’s tax situation is different.
On the basic level, let’s assume a 12% federal tax rate and a 4% state rate. Plus a percentage is taken out for Social Security and Medicare (FICA) of 7.65%.
Gross Annual Salary: $49,920
Federal Taxes of 12%: $5,990
State Taxes of 4%: $1,997
Social Security and Medicare of 7.65%: $3,819
$24 an Hour per Year after Taxes: $38,114
This would be your net annual salary after taxes. Less than $40000 per year!
To turn that back into an hourly wage, the assumption is working 2,080 hours.
$38,114 ÷ 2,080 hours = $18.32 per hour
After estimated taxes and FICA, you are netting $18.32 an hour. That is $5.68 an hour less than what you thought you were paid.
This is a very highlighted example and can vary greatly depending on your personal situation. Therefore, here is a great tool to help you figure out how much your net paycheck would be.
Plus budgeting on a just over $18 an hour wage is much different.
$24 an Hour Budget – Example
You are probably wondering can I live on my own making 24 dollars an hour? How much rent or mortgage payment can you afford on 24 an hour?
Using our Cents Plan Formula, this is the best-case scenario on how to budget your $24 per hour paycheck.
When using these percentages, it is best to use net income because taxes must be paid.
In this example, we calculated $24 an hour was $18.32 after taxes. That would average $3,819 per month.
According to the Cents Plan Formula, here is the high-level view of a $24 per hour budget:
Basic Expenses of 50% = $1588.08
Save Money of 20% = $635.23
Give Money of 10% = $317.62
Fun Spending of 20% = $635.23
Debt of 0% = $0
Obviously, that is not doable for everyone. Even though you would expect your money to go further when you are making double the minimum wage. So, you have to be strategic in ways to decrease your basic expenses and debt. Then, it will allow you more money to save and fun spending.
To further break down an example budget of $24 per hour, then using the ideal household percentages is extremely helpful.
recommended budget percentages based on $24 per hour wage:
Category
Ideal Percentages
Sample Monthly Budget
Giving
10%
$308
Savings
15-25%
$666
Housing
20-30%
$1,019
Utilities
4-7%
$208
Groceries
5-12%
$333
Clothing
1-4%
$42
Transportation
4-10%
$166
Medical
5-12%
$208
Life Insurance
1%
$17
Education
1-4%
$23
Personal
2-7%
$62
Recreation / Entertainment
3-8%
$125
Debts
0% – Goal
$0
Government Tax (including Income Taxes, Social Security & Medicare)
15-25%
$984
Total Gross Income
$4,160
**In this budget, prioritization was given to basic expenses. Thus, some categories like giving and saving were less.
24 an hour Salary
Many times, you don’t make exactly 24/hr. You may make $24.08 or $25.61. So, here is a handy calculator to figure out your exact hourly salary wage.
At this $24 hourly wage, you are more than likely double the minimum wage. Things should be easy to live off this $24 hourly salary.
Even though this is over $47000 salary, which means it can still be a tough situation.
Is it doable? Absolutely.
In fact, $24 an hour is higher than the median hourly wage of $19.33 (source). That seems backward, but typically salaried workers earn more per hour than hourly workers.
Can you truly live off $24 an hour annually?
You just have to have the desire to spend less than your income. Plus consistently save.
If you are constantly struggling to keep up with bills and expenses, then you need to break that constant cycle. It is possible to be smart with money.
You need to do is change your money mindset.
This is what you say to yourself… Okay, I have aspirations and goals to increase how much I make. This is the time to start diversifying my income into multiple streams and start investing. I am going to stretch my 24 dollars per hour.
In the next section, we will dig into ways to increase your income, but for now, is it possible to live on $24 an hour?
Yes, you can do it, and as you can see it is possible with the sample budget of $24 per hour.
Living in a higher cost of living area would be more difficult. So, you may have to get a little creative. For example, you might have to have a roommate. Move to a lower cost of living area where rent is cheaper.
Also, you must evaluate your “fun spending” items. Many of those expenses are not mandatory and will break your budget. You can find plenty of free things to do without spending money.
5 Ways to Increase Your Hourly Wage
This right here is the most important section of this post.
You need to figure out ways to increase your hourly income because I’m going to tell you…you deserve more. You do a good job and your value is higher than what your employers pay you.
Even an increase of 50 cents to $24.50 will add up over the year. An increase to $25 an hour is a milestone!
1. Ask for a Raise
The first thing to do is ask for a raise. Walk right in and ask for a raise because you never know what the answer will be until you ask.
If you want the best tips on how specifically to ask for a raise and what the average wage is for somebody doing your job, then check out this book. In this book, the author gives you the exact way to increase your income. The purchase is worth it or go down to the library and check that book out.
2. Look for A New Job
Another way to increase your hourly wage is to look for a new job. Maybe a completely new industry.
It might be a total change for you, but many times, if you want to change your financial situation, then that starts with a career change. Maybe you’re stressed out at work. Making $24 an hour is too much for you and you’re not able to enjoy life, maybe changing jobs and finding another job may increase your pay, but it will also increase your quality of life.
3. Find a New Career
Because of student loans, too many employees feel like they are stuck in the career field they chose. They feel sucked into the job that they don’t like or have the potential they thought it would.
For many years, I was in the same situation until I decided to do a complete career change. I am glad I did. I have the flexibility that I needed in my life to do what I wanted when I needed to do it. Plus I am able to enjoy my entrepreneurial spirit.
4. Find Alternative Ways to Make Money
In today’s society, you need to find ways to make more money. Period.
There is no way to get around it. You need to find additional income outside a traditional nine-to-five position or typical 40 hour a week job. You will reach a point where you are maxed on what you can make in your current position or title. There may be some advancement to move forward, but in many cases, there just is not much room for growth.
So, you need to find a side hustle – another way to make money.
Do something that you enjoy, turn your hobby into a way to make money, turn something that you naturally do, and help others into a service business. In today’s society, the sky is the limit on how you can earn a freelancing income.
Must Read: 20 Genius Ways on How to Make Money Fast
5. Earn Passive Income
The last way to increase your hourly wage is to start earning passive income.
This can be from a variety of ways including the stock market, real estate, online courses, book sales, etc. This is where the differentiation between struggling financially to becoming financially sound.
By earning money passively, you are able to do the things that you enjoy doing and not be loaded down, with having a job that you need to work, and a place that you have to go to. And you still make money doing nothing.
Here is an example:
You can start a brokerage account and start trading stocks for $50. You need to learn and take the one and only investing class I recommend. Learn how the market works, watch videos, and practice in a simulator before you start using your own money.
One gentleman started with $5,000 in his trading account and now has well over $36,000 in a year. Just from practice and being consistent, he has learned that passive income is the way for him to increase his income and also not be a slave to his job.
Tips to Live on $24 an Hour
In this last section, grasp these tips on how to live on $24 an hour. On our site, you can find lots of money saving tips to help stretch your income further.
Here are the most important tips to live on $24 an hour. More importantly stretch how much you make, in case you are in the “I don’t want to work anymore” mindset. Highlight these!
1. Spend Less Than You Make
First, you must learn to spend less than you make.
If not you will be caught in the debt cycle and that is not where you want to be. You will be consistently living paycheck to paycheck.
In order to break that dreadful cycle, it means your expenses must be less than your income.
And when I say income, it’s not the $24 an hour. As we talked about earlier in the post, there are taxes. The amount of taxes taken out of your paycheck is called your net income which is $24 an hour minus all the taxes, FICA, Social Security, and Medicare is taken out. That is your net income.
So, your net income has to be less than your gross income.
2. Living Below Your Means
You need to be happy. And living on less can actually make you happier. Studies prove that less is better.
Finding contentment in life is one thing that is a struggle for most.
We are driven to want the new shiny toy, the thing next door, the stuff your friend or family member got. Our society has trained you that you need these things as well.
Have you ever taken a step back and looked at what you really need?
Once you are able to find contentment with life, then you are going to be set for the long term with your finances.
Here is our story on owning less stuff. We have been happier since.
3. Make Saving Money Fun
You need to make saving money fun. If you’re good, since you must keep your expenses low, you have to find ways to make your savings fun!
It could be participating in a no spend challenge for the month.
It could be challenging friends not to go to Target for a week.
Maybe changing your habits and not picking up takeout and planning meals.
Whatever it is challenge yourself.
Find new ways of saving money and have fun with it.
Even better, get your family and kids involved in the challenge to save money. Tell them the reason why you are saving money and this is what you are doing.
Here are 101 things to do with no money. Free activities without costing you a dime. That is an amazing resource for you and you will never be bored.
And you will learn that a lot of things in life you can do for free. Personally, some of the best ones are getting outside and enjoying some fresh air.
4. Make More Money
If you want if you do not settle for less, then find ways to make more money. If you want more out of life, then increase your income.
You need to be an advocate for yourself.
Find ways to make more money.
It could be a side hustle, a second job, asking for a raise, going to school to change careers, or picking up extra hours.
Whatever path you take, that’s fine. Just find ways to make more money. Period.
5. No State Taxes
Paying taxes is one option to increase what you take home in each paycheck.
These are the states that don’t pay state income taxes on wages:
Alaska
Florida
Nevada
New Hampshire
South Dakota
Tennessee
Texas
Washington
Wyoming
It is very interesting if you take into account the amount of state taxes paid compared to a state with income taxes.
Also, if you live in one of the higher taxed states, then you may want to reconsider moving to a lower cost of living area. The higher taxes income tax states include California, Hawaii, New Jersey, Oregon, Minnesota, the District of Columbia, New York, Vermont, Iowa, and Wisconsin. These states tax income somewhere between 7.65% – 13.3%.
6. Stick to a Budget
You need to learn how to start a budget. We have tons of budgeting resources for you.
While creating a budget is great, you need to learn how to use one.
You do not have to budget down to every last penny.
You need to make sure your expenses are less than your income and that you are creating sinking funds for those irregular expenses.
Budget Help:
7. Pay Off Debt Quickly
The amount that you pay interest on debt is absolutely absurd.
Unfortunately, that is how many of these companies make their money is from the interest you pay on debt.
If you are paying 5% to even 20-21% or higher, you need to find ways to lower that debt quickly.
Here’s a debt calculator to help you. Figure out your debt-free date.
Make that paying off debt fast is your target and main focus. I can tell you from personal experience, that it was not until we paid off our debt that we finally rounded the corner financially. Once our debt was paid off, we could finally be able to save money. Set money aside in separate bank accounts and pay for cash for things.
It took us working hard to pay off debt. We needed persistence and patience while we had setbacks in our debt-free journey.
Here are resources now for you to pay off your debt:
Jobs that Pay $24 an Hour
You can find jobs that pay $24 per hour. Polish up that resume, cover letter, and interview skills.
Job Search Hint: Always send a written follow-up thank you note for your interview. That will help you get noticed and remembered.
First, look at the cities that require a minimum wage in their cities. That is the best place to start to find jobs that are going to pay higher than the federal minimum wage rate. Many of the cities are moving towards this model so, target and look for jobs in those areas.
Possible Ideas:
Virtual Assistant – Get free training NOW!
Freelance writer
Class A Truck Driver
Managers
Entry Level Marketing Jobs
Data Entry Clerks
Customer service managers
Bank tellers
Maintenance workers
Freight broker – Learn how easy it is to start!
Administrative assistants
Athletic Trainers
Event Planners
Security guard
Movers
Warehouse workers
Companies that pay more than $24 per hour: Costco, Wayfair, Amazon, Best Buy, Target, Wells Fargo, Disney World, Disney Land, Bank of America, JP Morgan, Cigna, Aetna, etc
$24 Per Hour Annual Salary
In this post, we detailed 24 an hour is how much a year. Plus all of the variables that can impact your net income. This is something that you can live off.
How much is 24 dollars an hour annually…
$49,920
In this post, we highlighted ways to increase your income as well as tips for living off your wage.
Use the sample budget as a starting point with your expenses.
You will have to be savvy and wise with your hard-earned income. But, with a plan, anything is possible!
Still thinking I don’t want to work anymore, you aren’t alone and need to start to plan for your early retirement.
Learn exactly how much do I make per year…
Know someone else that needs this, too? Then, please share!!
Did the post resonate with you?
More importantly, did I answer the questions you have about this topic? Let me know in the comments if I can help in some other way!
Your comments are not just welcomed; they’re an integral part of our community. Let’s continue the conversation and explore how these ideas align with your journey towards Money Bliss.