Hourly pay: ($ 19.75). Monthly take home: ($ 2,725) The Federal Paycheck Calculator (https://openstax.org/r/smartasset) was used to
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Hourly pay: \(\$ 19.75\). Monthly take home: \(\$ 2,725\)
The Federal Paycheck Calculator (https://openstax.org/r/smartasset) was used to estimate monthly take-home pay. The hourly pay, before taxes and deductions, is provided. Then, the monthly take-home pay after taxes and deductions is given (which means the monthly take-home pay is not just the hourly pay times 174 hours!). In each case, apply the 50-30-20 budget philosophy to the monthly take-home income. Note: These are based on living in Tempe, Arizona, unmarried and with no dependents.
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