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Time freedom is absolutely liberating!

If you are not aware of the concept of what time freedom is, then you are completely missing out.

This is something that you absolutely need to have in your life.

You need to learn how to design your life around this concept of time and freedom.

In our society, it is looked upon favorably that you are constantly busy; we are supposed to be busier than we were before. It is an accolade, it is a reward; you are given a pat on the back for being busy.

You’re doing a “great job” of living a busy life. But, those are also the same people that are busy hating life and completely stressed out. Is that really how you want to live life?

Today, I am going to challenge you to jump on the time freedom bandwagon.

This past year, I underwent major surgery; one that took months to recover from. As a result, I had a lot of time to think (flat on my back) without a whole lot to do. No to-do list, no driving children, no cooking dinner, no lifting, no nothing. Since I was recovering from the surgery and unable to do a lot of things, I had a lot of time to think.

One thing stuck out clearly… I do not live my life how I desire.

The way I actually spent my time pre-surgery did not align with my values, ethics, or my long-term vision for my life. I was wasting my life away by living the life that others believe that I am supposed to live.

Then, I began designing the life that I want to live. And that starts with time freedom.

Intrigued? Well, you should be… This will be a game-changer for you.

What Does Time Freedom mean?

Time freedom is exactly what you think it would be… have the freedom and the time to live life like you want to live.

  • You get to call the shots.
  • You get to do things that you want to do.
  • You don’t have to do things you don’t want to do.
  • You control your time.

By choosing time freedom, it gives you the flexibility to enjoy the life that you want to live.

Possibilities include spending time with your family, working on projects that you have passions about, spending time on hobbies that you are passionate about, or volunteering with causes you believe in.

So many opportunities present themselves once you carve out what time freedom means to you.

Think about these questions to help you define time and freedom for you:

  • If I was given an extra hour each day, how would I spend it?
  • If I was given an extra day in the week, how would I spend that time?
  • What is holding me back from living the life of my dreams?
  • Am I strong enough and have the conviction to say time freedom is more important than how others say I should dictate my time?
  • If I die today, what would I regret about how I spent my time?

Once you answer some of these questions, you will have a greater chance of figuring out what tiny meant freedom means to you.

While the overall definition of time freedom is the same for all of us; each person will have their individualized approach and personalization to what time freedom means to them.

How to Achieve Time Freedom?

This is something critical for you to dedicate time to think about.

As I said earlier in this post, this is something that I pondered on for a while. And it wasn’t until a couple of months later, once the hard part of my recovery was behind me and I could actually start doing things again that time freedom became even more important to me.

I am stingy. I am choosy with how I am going to spend my time and with who I am going to spend my time.

Time here on Earth is short; it is a speck on the horizon.

So choose to live life passionately and enjoy the journey.

This process of how to achieve time freedom will be fine-tuned as you go through the process. You can spend 10 minutes and think about it, but you really have to dig deep and make really tough choices. More than likely involve your family and close friends in your decision.

You need to define what time freedom means to you and how you are going to achieve it and more specifically why it is important.

1. Evaluate Your Real Life

You need to figure out what you were currently doing and how you are actually spending your time. This means for at least one week, you need to write down every single thing that you do.

For example, if you have to go pick up the kids, even though you know it is a seven minute drive to and from your house and school. It does not actually take you seven minutes; build in bluffer blocks to chat with your friends, talk to their teachers after school, and the whole event of picking up your kids. It is going to be longer than seven minutes.

So, you need to time block every single thing out. That will give you an idea of exactly how long it takes you to get stuff done.

While I am a believer in 30 Minute Meals and I love meals that are quick. I’ll be honest, I may be able to cook a meal in 30 minutes, but there is no way that I am able to cook a meal and clean up in 30 minutes (at least I am honest)! As a result, I need to make time for an hour to cook and clean up dinner.

How does this relate to time freedom? You need to see how you ACTUALLY spend your time.

Once you see how you spend your time, you can evaluate your true life, not the life that you believe is happening in your head.

You get to evaluate how you actually spend your time.

You may notice things like, wow, I spent 45 minutes or 90 minutes scrolling on Facebook and Instagram, and only 10 minutes talking to my children after

That could be an eye-opener for you to evaluate your life, and figure out what time freedom means for you.

2. Design the Life That You Want

This is the fun part!

As you are going through the week tracking down every single thing that you do and how you spend your time, you get to start thinking and dreaming about how you would spend your time differently.

Figure out how would you live your life differently.

Now that you know that time freedom is a possibility in your life. You get to start designing the life that you choose.

In order to do this, you need to evaluate what are the things that matter to you most.

If you died today, what would you regret most? Just writing that brings tears to my eyes, but you never know what the future holds.

That is why time and freedom are so liberating. You get to make sure that you get to tell those around you that you love them. They are important, and their life is worthwhile.

This step of designing the life that you want to live will probably take the longest because, over time, you will refine things that were important to you and realized others actually were not that important as you thought.

Refining what type of life you want to live will take time; so, please do not limit this soul-searching process.

Focus on time freedom and what it will mean to you.

3. Take Control of Your Time

Take control of your time and enough of the “busy life.”

That is something of “busy” generations before. Going forward, you want to have space, flexibility, and freedom to live the life that you choose to live.

And that starts by taking control of your time.

Don’t let others dictate your life plan.

In advance, decide how and where you are going to spend your precious time. Block out times for rest, recuperation, reading, hanging out with the kids, working out, etc. Do not let whatever get into your blocked out time.

Do the same for your work time – the amount you get paid to work. I cannot stress this enough. If you are sick and tired of working 60 to 80 hours a week, yet you still do it, week after week, even though you were paid on a 40 hour a week salary that needs to stop today.

Enough is enough.

Stop being there for your employer and crumbling in your personal life.

You need to take control of your time and work is the number one thing that is a most for us (until you reach your money freedom) that we need to do, but it takes the most time out of your life.

If you are paid for 40 hours, then focus on getting your job done just as well in 40 hours, and not spend that extra 20 to 40 hours working overtime. You are not getting paid for overtime. And that doesn’t equate to your time freedom.

Enough is enough.

I know so many people that are tired and don’t want to work anymore because time freedom is more important to them than their paycheck and their sanity.

Start putting barriers in place – block your schedule. Define your working hours and stick to it. No logging in early and no checking emails before bed. You are in charge of your time.

You need to be more respectful of your wishes and your desires.

4. Drop the Things You Don’t Want

This one is hard for a lot of us because we feel like there is a mandatory checklist
as we go through the life of things that we are supposed to do. And especially if you’re a mom, you know that you’re supposed to do “mommy activities” like you get a badge of honor.

By participating in something, even though it is not something that you want to do, you are wasting your time freedom

Instead, you need to drop the things that you don’t want to do, and choose the things that you do want to do.

It is not rocket science, but it is hard.

It is hard the first time that you say no to a commitment.

Declare to yourself… I am not going to do this presented opportunity because it gives me the freedom of time to choose something else.

That, my friends, is why you were reading this post! You need the okay that you deserve more in life than being stressed out and running from place to place.

You need to find this time freedom!

5. Focus on Your Time & Desires

This is the step that you need to find clarity and personalization on what time freedom works for means for you.

This is something that is going to become a part of your nature.

It will take time to grow into your new self. It is not a process that is going to happen overnight.

However, I can tell you after going through this process of finding time freedom in my life, I am the happiest person now. What I have in my life is because I am choosing that. And I’m very picky about what I will do and what I won’t do.

Focus on the areas of life that fill your bucket, that energizes you, that makes you just want to keep going. And drop the things that demoralize you, exhaust you, and make you feel worthless.

While you may not be able to flip this overnight to drop everything draining you and add everything that you want. It will be a process, and it will slowly happen over time.

  • Say no to that friend that every time you leave after lunch, you feel down and depressed because there isn’t much you can offer. She sucks the living daylights out of you.
  • Block the person on Facebook, who was causing all the controversies. It is not worth it.
  • You get to choose what is worth it.

That is what time meant freedom is all about.

Time Freedom vs. Financial Freedom

First, let’s look at what financial freedom means.

Ultimately, financial freedom means that you have the money and the resources to do what you please to do and do not have to worry about making a consistent income and how you will pay your bills.

Most people believe that they will never reach financial freedom because they do not have enough money saved. In reality, all it takes is just start saving and begin investing, and eventually, make progress to financial freedom.

If you are not saving at least 20% of your paycheck today, then financial independence is going to take that much longer.

Now, the question remains… how do time freedom and financial freedom correlate?

You are trading time for money.

Time > Money

You value your time over money.

And the good news is you can have both! You just have to figure out your priorities first.

The closer you are to reaching financial independence means you are closer to stop working for a paycheck. Then, you have the flexibility to do what you want to do when you want to do it. That means you aren’t working a nine to five job.

Not everybody reading this post right now can quit their job, walk away, and enjoy time freedom and financial freedom.

It sounds enticing, right? So, what are you going to do about that?

Make a plan.

Figure out what needs to happen financially, so you can find more time freedom in your life.

Sleep takes up one-third of our day, and studies have proven we should not sleep less than the recommended amount.

It’s work. Trading money for a paycheck.

The next thing that has to change is how much time you spend working.

You need to find ways to make more money fast or spend less than you make.

If you are determined to find more time freedom in your life, you will make it happen.

Do everything you possibly can to make as much money in that short season, so you have time flexibility going forward. You dedicate three years of your life to be able to years of time freedom. I believe that’s a good trade-off, and that’s what you need to think about and focus on.

You can still have time freedom without reaching financial independence. You just have to be careful about how you choose to spend your time outside of work.

What is Location Freedom?

Location freedom means the ability to live where ever you want because you want to.

There is nothing holding you down to a particular city, state, or country.

You have the freedom to choose where you reside – simple as that.

Unfortunately, for most of us to find that independence to have location freedom is very difficult because we feel the constraints that we have to stay working in our particular city, we need to stay close to family. There is a list of excuses not to become location independent.

Whereas, my friends over at Tuppennys Fireplace decided that they were willing to move to have the location freedom that they desired. They put in the time and effort to choose the location that they chose to live in.

While this may not be appealing to everybody, there is something appealing about being able to travel the world.

Being location independent, whether you are working or not working, may feel like a dream. But, you can actually make it a reality.

Are you Ready for Time Freedom in Your Life?

Well, we have reiterated that time freedom is the most amazing experience to have.

You may be terrified, and possibly even bored when you learn how time freedom changes your life.

With time freedom, you will have more time to spend on the things that you are passionate about, and less time on the things that suck you dry.

Day after day, you have the choice of how you choose to spend your time. That freedom is up to you to determine; as I have said, this is not an overnight process. This isn’t going to happen on a weekend.

It will take time to design the life that you want to live.

If you want to make drastic changes, then sit down over a weekend and really spend deep, quality time, thinking through this concept of time freedom. You will walk away a new person.

Most people will be jealous. Some people will hate you.

While true friends will stand beside you, and jump on the bandwagon to learn more about freedom of time.

Don’t care what other people think.

This is your life! You have one life to live. Live the best life that you can!

With time freedom in mind, you can design your life and truly understand what freedom of time will change you from the inside out.

If you are intrigued about time freedom, then here are the best time freedom books.

These books will help you build habits to find time in your life. Then, you can begin designing the life you want.

As an Amazon Associate and member of other affiliate programs, I earn from qualifying purchases.

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.


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The longer you live in your house, the more obvious it may become that you could use more living space — perhaps for a guest bedroom, home office, or workout space. Your first thought might be to build an addition, but the sticker shock may cause you to shelve that idea and instead consider an attic conversion.

Fortunately, an attic conversion is an idea that may be more economical than a complete home addition. Read on for a full breakdown of the cost to finish an attic.

Should You Convert Your Attic Space?

There are many benefits of converting an attic into usable space, including:

•   The space already exists in your home, making this choice both cost- and time-effective.

•   You don’t need to pour a foundation, again making it a more viable and economical option.

•   Wiring is likely already in place and can be modified to suit your needs.

An attic conversion also allows you to use the entire envelope of your home, rather than wasting potential living space.

Before you fully commit to your attic remodel, though, it’s crucial to make sure your attic has the potential to become a usable living space (more on that below).

Tips on Converting an Attic

One of the first things you might do before converting your attic is to see if your roof is being supported by W-shaped trusses in your attic. If so, building an addition might be a better choice. If your attic contains A-shaped rafters, though, that’s a plus; if there’s enough open space beneath the rafters, then you can potentially convert your attic into usable space.

Other steps to take before an attic remodel include:

•   Check your local building codes to make sure your remodel will fit. The rules vary by area but a typical requirement is that the attic space must be at least 7.5 feet high and over 50% of the floor area. The thickness of the material will also factor into the final headroom and ceiling height. The quickest way to add significant costs to your attic remodel is to be forced to change course mid-project because of a code violation.

•   Determine how you’ll get into the space. Will you need to add a staircase or expand the current one? Stairs that go straight up will need more floor space than, say, spiral staircases. Or perhaps your only option is a pull-down access point; this will limit what furniture and materials you can fit into your attic conversion and how utilitarian the new living space might be.

•   Consider whether you’ll need to add windows. If you’re creating an additional bedroom, codes may require an egress window in case of fires. But even if they aren’t required, you might consider adding windows or punching skylights that open to brighten the space with natural light.

•   Decide how much flooring needs to be reinforced, along with any electrical or plumbing issues. If you ultimately decide that your attic has what’s needed for a successful conversion, it’s time to think both practically and creatively to shape what may well become the most interesting — and potentially challenging — room in your house.

•   Consider your priorities and budget. Once you get a sense of costs (listed below) and what’s most important to you, you’ll want to come up with a budget and a plan for how you’ll pay for the upgrade. If you don’t have enough cash to cover the project, you may want to explore financing. Funding options for finishing an attic include using a credit card (generally the most expensive route), getting a home improvement loan (a type of unsecured personal loan designed for small to mid-sized home renovations), or applying for a home equity loan or line of credit (which uses your home as collateral for the loan).

•   Consult with a professional unless you’re already an experienced builder. Ask friends, family members, and building associations for recommendations and referrals, then request quotes from at least three contractors to understand both possibilities and associated costs. When you contact contractors, ask them for credentials. Compare bids and, tempting as it may be, don’t automatically choose the lowest one. Make sure the contractor describes what will be provided as well as the estimated time frame.

Want to know how much value your attic conversion will bring to the table? Check out SoFi’s Home Project Value Estimator.

How Much Does It Cost to Finish an Attic per Square Foot?

On average, you can expect to pay between $10,600 to $50,000 — or $50 and $150 per square foot — to refinish your attic, according to Angie (formerly Angie’s List). A specialized or high-end attic conversion can cost as much as $200 per square foot.

Overall, costs vary depending on the overall square footage and the materials you use.

How Much Does It Cost to Finish an Attic per Task?

If you hire individual contractors for each aspect of your attic remodel, then it’s easy to see what each portion of the remodel is costing you. However, if you hire a contractor to manage the entire project, you likely won’t receive the project broken down into great detail.

What follows is a breakdown of common costs involved in an attic renovation.

Cost of Walls and Ceilings

New walls and ceilings can effectively transform an unfinished attic into a space that’s both comfortable and livable. Although prices vary by where you live, attic drywall can cost an average of $1,000 to $2,600 to install, with ceilings costing anywhere from $200 to $12,000.

Other aspects to consider: Will you paint the walls and ceilings? Add wallpaper? Do you need trim and crown molding? All of these features will be additional costs and can quickly cause your project budget to skyrocket.

Cost of Flooring

Flooring is another important consideration, so first think about what’s located directly below the attic space. Do you need soundproofing? If a bedroom is located below the attic space, you’ll likely want some sound control. Insulation provides that to some degree, and carpeting adds even more dampening.

The cost of attic flooring will depend on the current state of the attic and what materials you choose. Replacing floor joists to beef up the strength will cost anywhere between $1,000 and $10,000, while installing subfloor will run between $500 and $800. Installing the flooring itself averages between $1,531 and $4,848, depending on material and square footage.

Recommended: Renovation vs. Remodel

Cost of Windows and Skylights

If there currently are no windows in your attic, you may want to add an egress window, which will run you between around $800 and $2,400, as a safety precaution. You also might want windows or skylights to brighten the space with natural light. Expect to pay an average of $2,500 – $5,500 to install an attic window, and $1,000 to $2,400 to add a skylight.

Recommended: How Much Does It Cost to Replace Windows?

Cost of Heating and Cooling

Your attic conversion might require additional heating and cooling. The price to install an attic fan is around $400 to $900, and a standard window AC costs about $150 to $800 per unit. A skillful contractor could also potentially tie in your current climate control system.

For heat, baseboard heaters run $942 on average. If you need to add HVAC ductwork and vents to extend your home’s AC and central heating systems to the attic, you can, expect to pay anywhere from $1,000 to $5,000.

If your attic is difficult to access during the renovation period, contractors may tack on a surcharge. To get an idea of how much your attic renovation will cost, you may want to use an online home improvement cost calculator.

How Much Does It Cost to Finish an Attic Yourself?

It’s generally cheaper to go the DIY route than to hire a professional — though you will need some know-how. If you’re making minor improvements to your attic space (such as adding an attic fan and cleaning it up, you may be looking at an attic remodel cost as low as $300. However, if you’re looking to make a total transformation, your costs for materials could run as high as $50,000.

Though you’ll certainly save on labor costs, make sure to take into account the time involved if you decide to do it yourself as opposed to bringing in a professional.

Recommended: Four Ways to Upgrade Your Home

How Much Does It Cost to Finish an Attic by Type?

How much it costs to finish an attic will also vary depending on the type of attic space you’re creating. Here’s a look at how much an attic remodel costs by attic type.

Cost of Finishing a Walk-Up Attic

The cost of finishing a walk-up attic generally ranges anywhere from $8,100 and $26,000. Large portions of the costs are typically adding a staircase and installing flooring.

Finishing an Attic as a Storage Space

If you’re finishing an attic to serve as a storage space, your costs are generally a little lower as there isn’t as much polishing involved. Generally, the attic remodel cost for a storage space runs from $4,600 for a simpler setup to $18,900 if the space is larger and you opt for more elaborate storage systems.

Cost to Finish an Attic With a Dormer

Installing a dormer — a window that juts out vertically on a sloped roof — can add in some ceiling height and natural sunlight into an attic. However, it will set you back. On average, the cost to add in a dormer along with finishing the attic can run between $8,800 and $32,400.

Cost to Finish an Attic Above a Garage

The cost to finish an attic above a garage can vary widely depending on what’s involved, such as the installation of heating, insulation, or ventilation. You can typically expect to pay anywhere from $4,600 up to $24,000.

Recommended: Garage Conversion Ideas Worth the Effort

What Factors Influence the Cost of Finishing an Attic?

As you may have guessed from the wide-ranging estimates above, the cost of finishing an attic can vary a lot depending on what’s involved and what materials you use. Here a look at some major factors that can affect how much it costs to finish an attic.

•   Square footage: How large your attic is will play a big role in the total costs involved in remodeling. The bigger an attic is, the more materials required and the more time it will take to finish it, which translates to additional labor costs.

•   Need for structural changes: You’ll also pay extra if your attic is an odd shape or difficult to access. These challenges could call for structural updates, such as the addition of height, the expansion of space, or the creation of a staircase.

•   Intended use: Your planned purpose for your attic will also influence cost. If you just want to add in some additional storage space, you’ll pay a lot less than if you plan to install a full suite complete with a bedroom, bathroom, and closet.

•   Extra features desired: Perhaps unsurprisingly, the more features you want in your newly remodeled attic, the more it will cost you. Big-ticket items include windows, electricity, plumbing, and heating and cooling.

Of course, another factor that influences your cost is whether you need to get financing for the project and, if so, what terms you’re able to secure.

Awarded Best Online Personal Loan by NerdWallet.
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The Takeaway

An attic conversion can be one way to create a unique room and add more usable space to your home. It also tends to be more economical than adding an addition to your house. There are a lot of technical aspects to consider, and before getting started, it’s best to check with your local building department so you know any building or permit requirements upfront. You can then come up with a project wishlist and start soliciting bids from at least three contractors.

At the same time, you’ll want to determine if you’ll pay cash or finance all or some of the project. One financing option you might consider for an attic renovation is an unsecured personal loan. Offered by banks, credit unions, and online lenders, rates are typically lower than credit cards. And unlike a home equity loan or home equity line of credit (HELOC), you don’t need to use your home as collateral to qualify.

SoFi’s Personal Loan was named NerdWallet’s 2024 winner for Best Personal Loan overall.

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Non affiliation: SoFi isn’t affiliated with any of the companies highlighted in this article.

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Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

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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.

Do you really do need to know how much you make in a year?

When you are an hourly employee, you understand what your hourly rate is, but when you try to translate that into a weekly, monthly, or even yearly amount is may be a struggle.

That is totally fine. In this post, you are going to get the math behind exactly how much do I make per year.

All you have to do is follow a simple equation and plug in your numbers for your personal situation. The end result is you will know how much do I make per year.

Right now, there is not going to be a super fancy calculator to help you all through this. (Just kidding… We have calculators below for you!) In all honesty, though, this is something very basic for you to figure out.

You will figure how do I calculate how much I earn a year.

At the end of the post, we are going to go into detail about ways to increase how much you make per year, as well as tips to thrive on your current salary.

Calculating an Annual Salary from an Hourly Wage

When you are an hourly employee, there are many variables that can go into your annual salary or annual income. Primarily, the first variable is how many hours do you work in a given week. Next, is how many weeks do you work in the year. Finally, if you get paid time off.

For example, you may work less all year, but then in the busy season around Christmas, you might increase the number of hours you work. Or vice versa, if you are in the landscaping business, you are more likely to work more hours during the summer, and less in the winter (unless you find other jobs off-season of your main job like snow shoveling duties).

To calculate your annual wage, you need to multiply your hourly pay times by the number of hours that you work in a day.

Then, take that number and multiply it by the number of days that you work in a week. Next, take that number times the number of weeks that you work per year.

The most you can work in a year is 52 weeks. Do you know how many work days in a year you work? This answer may surprise you.

Steps to Calculate an Annual Salary from an Hourly Wage…

  1. Write down your hourly rate (before taxes, FICA, 401k contributions, etc)
  2. Figure out how many hours you work in a week.
  3. Figure out how many weeks you work per year.

Hourly Rate * (weekly hours worked x weeks worked per year) = Annual Salary

– or –

Hourly Rate * weekly hours worked = Weekly Salary
Weekly Salary * weeks worked per year = Annual Salary

**Either formula will get you to the right answer.**

Example #1

Your hourly wage is $14.26 that is before anything is taken out like FICA, taxes, insurance, or 401k contributions. In a typical work week, you work 34 hours. You receive paid time off, so you can count working 52 weeks per year.

$14.26 * (34 x 52) = $25,211.68

– or –

$14.26 * 34 = $484.84
$484.84 * 52 = $25,211.68

Example #2

Your hourly wage is $22.70 that is before anything is taken out like FICA, taxes, insurance, or 401k contributions. In a typical work week, you work 45 hours. You receive do not receive paid time off, so you can plan on working 48 weeks per year.

$22.70 * (45 x 48) = $49,032

– or –

$22.70 * 45 = $1,021.50
$1,021.50 * 48 = $49,032

Calculating an Hourly Wage from an Annual Salary

A lot of salaried people do not take into account how much they make per hour because they just are paid a flat salary rate. That salary is divided up by the number of paychecks over the course of the year.

You need to take your full yearly salary and divided it by the number of weeks per year, and then, divide it by the number of hours worked per day.

This will give you an estimate of your hourly pay as a salaried employee.

Steps to Calculate an Hourly Wage from an Annual Salary…

  1. Figure out how many hours you work in a week.
  2. Figure out how many weeks you work per year.
  3. Write down your annual gross salary (before taxes, FICA, 401k contributions, etc)

Annual Salary / (weekly hours worked x weeks worked per year) = Hourly Wage

Example #1

Your annual salary before anything is taken out like FICA, taxes, insurance, or 401k contributions is $76,500. In a typical work week, you work 52 hours. You receive paid time off, so you can count on =working 52 weeks per year.

$76,500 / (55 x 52) = $26.75 per hour

Example # 2

Your annual salary before anything is taken out like FICA, taxes, insurance, or 401k contributions is $42,800. In a typical work week, you work 45 hours. You receive do not receive paid time off, so you can plan on working 49 weeks per year.

$42,800 / (45 x 49) = $19.41 per hour when working

How to calculate how much you make a year?

As presented above, figuring how much I make per year is fairly straightforward.

A little math won’t hurt anyone. Plus it makes the money earned more real and difficult not to spend.

But, here is a calculator to help you out.

This will show you how to calculate how much you make a year.

There are two versions based on if you are starting with hourly wage or annual salary.

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When budgeting your income, it is always better to underestimate how much you can make in a year.

For tax purposes, choose to overestimate your income, and then you won’t have big surprises come tax time.

Overtime can influence these numbers if you are paid time and half. In that case, run your numbers without overtime and gain just for overtime pay. Then, add those numbers together.

How much Do I Make per Year Before Taxes or After Taxes

Income taxes is one of the biggest culprits of reducing your take-home pay as well as FICA and Social Security. This is a true fact across the board with all salary ranges

The amount of taxes taken out hurts your hourly wage.

Every single tax situation is different.

On the basic level, let’s assume a 12% federal tax rate and 4% state rate. Plus a percentage is taken out for Social Security and Medicare (FICA) of 7.65%.

Thus, on average you can take out 23.65% just for taxes!!

Your gross salary is before taxes are taken out. Your net salary is when taxes are taken out.

Since every tax situation is different and varies greatly depending on your personal situation and potential deductions. Therefore, here is a great tool to help you figure out how much your net paycheck would be.

Un-Factored Costs of How Much Do I Make per Year

One factor that does not come up in this calculation is everything required for you to get to your job. In these examples, the assumption is you are getting paid for every hour that you are actually working.

However, you should take into account everything that needs to happen for you to actually get to your job.

Some examples include getting ready in the morning, driving to and from work, attending the “must-attend” social events after work, the amount of time to decompress from your day, etc.

It is important to know how much do you make after you account for those variables, because the answer may be surprising to you!

Here is an example…

Your workday is normally a 10 hour day, but you have an hour commute on each side. It takes you an hour to get ready in the morning and two hours to decompress from your day.

Thus, you have already added on an extra five hours of your workday on top of your normal 10 hour workday.

So, in essence, you are working 15 hours a day in order to be able to do your job and function as a human being.

That is much less than the 10 hours per day that you thought you were putting in.

Once you account for those variables, many people may realize the extra hours to make life bearable at their job or their commute is not worth it.

Here is a great calculator to figure out your true hourly wage.

So, they make look at changing jobs, even though they will be paid less per hour, they gain an extra three hours back in their life. Making their real workday just 12 hours. So, even though the pay is less, they are actually earning more when you account for these additional variables.

This is called time freedom.

3 Ways to Increase Income

While it is great to know how much do I make per year, it is more exciting and more enticing to actually figure out ways to increase your income.

Even better if you can find ways to increase your net worth.

By increasing the types of income sources that you have, you are going to fast-track your net worth. Then, you can look at retiring early or finally enjoy your work.

There are plenty of ways to increase your income, but we are going to focus on the ones that will make the most impact right now.

1. Ask for a Raise

Too many people are afraid to ask for a raise because they are nervous they may actually lose their job.

When in reality, if you believe that you are underpaid and overworked, then ask for a raise – especially if you do a great job!

There is no reason that you shouldn’t ask for a raise.

While your raise may not be huge, it may only be 50 cents an hour. That adds up to an extra $1,000 over the course of the year! That is still more income in your pocket than you had by not asking.

Don’t settle for the average cost of living increase that most companies typically give out; you deserve more for your continued years of work. Even worse, do not accept that getting the minimum wage increase is enough because it is just not fair. You need to find a new employer ASAP.

You work hard, so you should be paid for your hard work.

2. You Gotta Hustle (Like Another Job or Side Hustle)

In today’s society, you cannot have just a paycheck as earned income.

You must diversify your income sources to more than just trading your time for money.

You would be pleasantly surprised by the increase in TOTAL income at the end of the year.

If you want to make progress further this is something that you need to start doing today.

You can do simple side hustles, such as walking somebody else’s dogs, pet sitting, house sitting, watching somebody else’s kids, or cleaning somebody’s house. Basic skills.

It may not be a huge amount, but let’s say your side hustle made you an extra $100 a week. That right there will help increase your income over the course of the year to over $5,000!

That makes a solid difference on your bottom line.

Let’s say you want to hire out your specialized skills… You make $250-500 per gig and can handle four per month. That is an extra $1000-2500 a MONTH!

Passive income is one of the best ways to increase your income on a consistent basis. You put the hard work in upfront and then you get to reap the rewards, aka the money that flows in without you actually having to work on that. Possibilities include rental income, affiliate marketing, or online courses.

3. Start Selling Stuff

One of my good friends makes at least $500 each month by flipping kid’s toys and clothes. Yes, you read that right. She buys used clothes and toys and resells them for a profit. She has become very good at what she does and is well known in the local market for her items always being quality and at a fair price.

She is increasing her income by doing flipping stuff. It’s not a hard concept.

There are people that will go into goodwill and buy designer brand clothes with the tags still on them for a fraction of the price and flip it on Poshmark. The next day for a profit of over 900%.

I am not joking with you; you can sell things to increase your income.

And all of this selling is during your free time, so it should not take up a whole lot of your time. Maybe an extra hour a day, maybe four hours on the weekend, but would you be happy to walk away with little extra cash in your pocket.

Watch this free course on how to make money flipping stuff.

There are so many options for you to increase your income.

How to Live on what I Make per Year

These money management tips are simple to embrace.

That is because you can focus on a few key areas and not be distracted by every piece of financial advice.

Pick up one new habit and focus on building another on top of it. Slowly and surely, you are more likely to make long-term progress.

1. Spend Less

The formula for this one is the same regardless if you were making minimum wage, or if you are making over $100,000 per year.

You have to live on less than you make.

That is the simple thing. It does not matter what your situation is or how much income you make.

If you are spending more money and have greater expenses than your income, you will never get ahead. Period. You will be on a hamster wheel and living paycheck to paycheck, and for what my readers say – they don’t enjoy that life.

Also, I know many of my readers that they have broken that paycheck to paycheck cycle. They followed the Money Bliss Steps to Financial Freedom.

You need to live below your means.

2. Save more

Save for the future now; stop delaying saving for tomorrow.

Because when tomorrow comes, you are not going to feel like saving money; thus, you are not going to have any more money than you do today. Start saving.

Even if you start right now with saving 5% of your paycheck, that is a WIN!

Make sure your saving is set aside in a separate bank account. Even better, open an investment account and begin your saving journey.

If you know you are a natural spender, then save more money than the minimum of 20%. If you consistently save 20% of your paycheck by the time you retire, or maybe even sooner, you will become a millionaire.

It doesn’t matter how much you make per year if you do not prioritize saving sooner than later.

3. Set Goals

First, you will never make any progress if you do not set goals.

Yet, most people say they will start setting goals tomorrow; and tomorrow comes and no goals are set.

Carve out time to set goals in all areas of your life – personal, professional, health, wealth, family.

Create a bucket list for your long-term goals and make smaller short-term goals to make sure you reach those big goals.

As with anything in life, if you set a goal, you’re more likely to achieve it.

If you write down a goal, you have a greater probability of achieving your goal.

When it comes to your money and your finances and your income, you need to set smart financial goals.

You have to drive and decide what you want to do in your future.

If your goal is to have more time in life then you need to figure out how to make time freedom a priority. If your goal is not to work until you are 65 and afraid to learn what happens if you don’t save for retirement, then start putting money into a retirement account.

You have to put the plan together to reach your goals. Focus on taking action, not being in motion.

4. Positive Mindset

There are two ways that you can go in life:

  1. You can control your future.
  2. You can let your situation pass you by and let life get in the way.

It is totally up to you what you want to do, but you need to have the mindset that you choose to make the most out of this life here now, and that all starts today.

You make be wondering… what does this have to do with how much I make per year?? Well, if you are focused on that number not being enough, then you will struggle to get pay raises and increase your income.

Your mind is a powerful thing. Stay positive.

5. This is Your Journey

Lastly, this is one we tend to forget. Count your blessings.

Be grateful for what you have today as well as the opportunities in front of you.

Don’t worry about what the future holds today.

Be reminded that this is your journey with twists and turns, hills and valleys. Every step you take is guided on a path only made for you.

How Much Do I Make Per Year:

How Much Do I Make Per Hour:

One of the best ways to improve your personal finance situation is to increase your income. Here are a variety of side hustles that are very lucrative. With time and effort, you can start enjoying the lifestyle you want.

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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.


Apache is functioning normally

Pursuing a nursing program can lead to a rewarding career, but as the cost of higher education grows, paying for nursing school might just cause your blood pressure to rise.

Financial aid, including nursing student loans, can help fill the gap between money on hand and education costs, but it’s good to think about your future pay compared with the debt you’re willing to take on.

Keep reading to learn more on nursing school loans, the different types of student loans available, and alternative ways to pay for nursing school.

What Are Nursing School Loans?

Nursing school student loans are a type of financial aid available to eligible college students who are enrolled in a program for licensed practical or vocational nurses, registered nurses, nurse practitioners, or nurse anesthetists.

Depending on the loan program, federal student loans for nursing degrees can either be need-based or not. Another option to fill in gaps in need: private student loans.

Unlike grants and scholarships, nursing school loans must be repaid, though special programs like the Nurse Corps Loan Repayment Program and National Health Service Corps Loan Repayment Program offer loan forgiveness.

Most loan programs, federal and private, have a grace period during school and after graduation before repayment must begin.

Types of Loans Available for Nursing School Students

The Department of Education provides options for federal nursing student loans under the William D. Ford Federal Direct Loan Program.

Eligible borrowers can also explore private student loans for additional funding, if needed.

If you do borrow, you’ll be in good company. Take a guess at how many people have student loans. The answer is about 45 million Americans; the vast majority have federal student loans.

And the cost of nursing school? It varies by institution and length of study. Getting a Bachelor of Science in Nursing generally costs the same as most bachelor’s degrees.

Direct Subsidized Loans

A Federal Direct Subsidized Loan is available to undergraduate students who are enrolled at least half-time at a participating school. Students are required to demonstrate financial need to qualify.

If a nursing student qualifies for a Direct Subsidized Loan, the school determines how much they can receive for that academic year. The government pays the interest that accrues on the loan while the student is enrolled at least half-time, during a six-month grace period after leaving school, and during any deferment granted for economic hardship, cancer treatment, or a few other reasons.

In comparing subsidized vs. unsubsidized loans, the first type favors borrowers more, thanks to how accrued interest is paid.

Direct Unsubsidized Loans

Federal Direct Unsubsidized Loans are available to undergraduate and graduate students. These loans are not based on financial need, but schools still decide how much students can borrow toward an academic year.

The key difference with this nursing loan option is that students are responsible for interest charges as soon as the loan funds are disbursed.

Direct PLUS Loans

Another federal option for nursing student loans is the Direct PLUS Loan. Grad PLUS Loans are available to graduate students who are pursuing an advanced degree like a Master of Science in Nursing.

Parents of an undergraduate student can help fund their child’s education through a Parent PLUS Loan; undergrads don’t have direct access to this loan option.

Direct PLUS Loans are non-need based and require a credit check. Borrowers are responsible for all interest that accrues. They can receive up to the school’s cost of attendance minus any other financial aid received.

Private Student Loans

Nursing students who need funding beyond federal student loans can consider private student loans. Private student loans are offered by private financial institutions like banks, credit unions, and online lenders.

Each lender has its own eligibility requirements, interest rates, and loan terms. If you’re eligible for a private student loan, your interest rate and loan details will depend on various factors, including your credit score. Most lenders welcome your bringing a solid cosigner aboard.

Pros and Cons of Loans for Nursing School

The average student loan debt among all health care professionals can be eye-opening, yet healers usually feel the need to heed the call, no matter the cost.

Nursing student loans can be a fast way to finance your college education. However, before jumping in, weigh the benefits of student loans against their disadvantages.

Pros Cons
Quick financing for college costs Will make years of payments after leaving school
Some student loans let you borrow up to the cost of attendance Can cause borrowers to postpone other life goals during repayment
Can make paying for higher education possible for those who are ineligible for other types of financial aid You may need a cosigner to qualify
Repaying student loans on time can help build your credit history Defaulting on student loans can harm your credit and result in additional financial hardship

Applying for Nursing Student Loans

The process to apply for nursing student loans depends on the loan option chosen.

Comparing Loans

If you’re thinking about taking out student loans, you might want to compare federal student loans you might be offered in your aid package, as well as private student loans.

Prioritizing federal student loans before private student loans can be a good idea, since federal loans offer advantages like income-driven repayment plans and Public Service Loan Forgiveness, which forgives any remaining federal student loan balance after certain borrowers make 120 qualifying payments.

If private nursing student loans are still needed to pay for college, check offers across multiple private lenders. Comparing a handful of private student loan offers can help you find competitive rates and terms.

Applying for Loans

Federal nursing student loans and private student loans have distinct application processes. You must submit a Free Application for Federal Student Aid (FAFSA®) before the academic year to see if you’re eligible for federal aid.

Private student loans don’t require the FAFSA. Instead, private nursing student loan applications can be submitted online, in person, or by mail, depending on the lender. They require the would-be borrower, or a cosigner, to meet credit and income requirements.

After Applying

It’s a good idea to start the process early when seeking federal student loans for your nursing education. The time between submitting the FAFSA and disbursement of the loan funds to your school can be months.

The turnaround time after applying to receive private student loan funds can be notably shorter. Getting pre-qualified for a loan can take just minutes.

In general, if you’re approved for a private nursing student loan, you can expect to wait up to 10 weeks after your loan is approved to receive the funds.

Alternative Financing Options for Nursing Students

Securing nursing school student loans is only one of many ways to finance your higher education. Other options include personal loans, grants, and employer sponsorship.

Personal Loans

Personal loans are a general-purpose loan option that can be used toward nursing school. A credit check is required.

Repayment begins as soon as funds are disbursed. Check your rate and decide if a personal loan makes sense. One perk of personal loans is you could get funding within 24 hours of loan approval.


Grants are provided through the federal government, state, your school, nonprofit entities, and private organizations. Since grant funding doesn’t need to be paid back, this aid alternative lets nursing students leave school with less student debt.

Employer Sponsorship

If you plan on working while you’re enrolled in nursing school, you can ask if your company has a sponsorship program. Generally in this situation, your employer will send funds directly to your school.

Private Student Loans From SoFi

If you’ve exhausted all federal student aid options, no-fee private student loans from SoFi can help you pay for school. The online application process is easy, and you can see rates and terms in just minutes. Repayment plans are flexible, so you can find an option that works for your financial plan and budget.

Cover up to 100% of school-certified costs including tuition, books, supplies, room and board, and transportation with a private student loan from SoFi.


How do nursing students get loans?

Nursing students can see if they’re eligible for federal student loans by submitting the FAFSA. Private nursing student loans are also available through various private lenders.

Can nursing school loans be forgiven?

Nursing professionals might be eligible for loan forgiveness through federal programs like Public Service Loan Forgiveness and the Nurse Corps Loan Repayment Program.

What is the average student loan amount for a nurse?

The median student loan debt among nurses ranges from $40,000 to $55,000, according to the most recent report by the American Association of Colleges of Nursing. Those who pursue a Master of Science in Nursing are often left with more than $47,000 in student loan debt, according to NurseJournal.

For perspective, in terms of educational investment and earnings, registered nurses earned a median annual wage of $86,070 in 2023, according to the Bureau of Labor Statistics. RNs usually have earned an associate’s or bachelor’s degree in nursing or a diploma from an approved nursing program.

Licensed practical and licensed vocational nurses, who complete a state-approved educational program that typically takes about one year, had median pay of $59,730 per year.
Nurse anesthetists, nurse midwives, and nurse practitioners, who must earn at least a master’s degree, had median pay of $129,480 per year.

Photo credit: iStock/erdikocak

SoFi Private Student Loans
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