Money doesn’t buy happiness, but it does give you more freedom to live the life you want.

How do you make money? Getting a job or starting a business is step one.

For example, let’s say have a job where you work 40 hours a week and get paid $20 an hour. So that means you’ll make $800 a week…right?

Wrong, because taxes.

Here’s a look at what your paycheck would actually look like after taxes are taken out.

Taxes are a pain and there’s nothing you can do about them.

Why? Because when you drive on a road, walk on a sidewalk or use public services, that’s the government giving your taxes back to you.

Certain states have no state income taxes (including Texas and Florida), while other states can be upwards of 10% of your income—something to consider when moving or starting a business.

Creating a budget

A monthly budget helps ensure you can pay your bills and still have money left over. Start with your take home pay total for the month and then subtract your regular expenses to see how much money you’ll have left over.

Key Points

1. Make money by getting a job or starting your own business.
2. Don’t forget to account for taxes when you’re thinking about your paycheck.
3. Creating a budget of all your expenses can help ensure you have spending money left over.