Useful Tips for Finding your Annual Income
Securing employment that can be the source of income you need to for survival and other investments is everyone’s objectives, most of them not caring about how much they will be making in a year as shown here! But it is good to have an idea of how much money you make in a single year and this information can be beneficial in more ways than you imagine. For someone who has zero ideas regarding the money they make in a year, click this homepage. Keep reading to learn how to find your annual income.
You cannot find out your annual income if you don’t know how much money you are making in an hourly; your hourly rate, which is usually listed on the paystub is the first piece of information you need. By figuring out the accurate amount you make every time you work for an hour, you are already halfway to figuring your annual income; you just have to factor in the number of hours you work in a week, and the total number of workweeks in one year, and you have the total amount in dollars that you make annually.
For someone who works overtime, the calculation of the annual income is a bit different because you have to factor in the additional payment; your payment is usually one and a half times or double on holidays. If you have a work schedule that is not the same every week and some weeks, you have to do te above calculations weekly, and keep your records to be used at the end of the year.
If you wait for your numbers to add up to know your weekly income, there is a high chance of being confused and ending up with an inaccurate figure especially if you are working for different hours every week, hence the importance of making weekly calculations. Make a list of all your income sources and be sure to include everything; the total amount you make from tips, commissions, are a part of the money you make annually and should be included.
As you can see from this guide, all you need is accurate figures that you have to put together to know how much you make in a year, and it is especially easily if you are paid by the hour and you have impeccable record keeping skills. Even if you don’t know how to calculate how much you make in a year or have never thought about, now is the time to take control of your finances and never lose track of your total income. You can find out your annual income with the help of these tips.