Budgeting for A Truck Driver
Being a trucker can be an expensive job, especially for an owner operator. Budgeting for a truck driver on the road can be difficult. When it comes to food, the occasional hotel expenses, and random purchases, it’s a lot to manage. The expenses don’t just come when out on the road. Truckers also go home to a mortgage/rent, everyday expenses, utilities, and even may have payments for their truck.
Lawrence Transportation is one of the top pay carriers in the country. We want to ensure that our drivers are getting the most bang for their buck. Whether it’s cutting down on food expenses, budgeting income or being more efficient with money. Lawrence Transportation wants its drivers to be successful and happy. Here are a few tips for budgeting for a truck driver:
Cut Down on Food Expenses
Some budget tips to follow when selecting a meal are:
- Truck Stops– Order off the menu. It’s cheaper than paying for the buffet. After tax and tip, a buffet can end up costing $15 or more. Plus, the menu portions are generous and can provide leftovers for later.
- Fast Food– Aim for the dollar menu. There are plenty of options that are cheap, and it’s better than paying $8 for a burger that isn’t worth $8.
- Groceries– Always stock up when possible. Sandwiches, snacks, and microwavable meals are storable and are cheaper than buying a meal in a restaurant each time.
Make a Budget
A budget will help ensure that a trucker knows where his or her money is going. Here are a few items that should be on a trucker’s budget:
- Rent/Mortgage– Factor in major expenses first so that handling the finances of smaller expenses will be easier.
- Truck Expenses-For Owner Operators, expenses such as truck payments, fuel charges, and repair work are common. They need to consider these on a budget, so they don’t come as a surprise.
- Food– Make a budget for daily food expenses. A food budget will make the decision of where to eat on the road much easier.
- Other Expenses– It’s important to factor in expenses such as insurance, clothes, car payments, electricity, cable, and more.
When making a budget, it’s important to stick to it. A budget will ensure that you know how much money is going where, which makes for no surprises. A budget will also help in stretching a paycheck. It’s important to analyze a budget and reduce expenses where necessary. Reductions will allow for more money to go where needed. Lawrence Transportation strives to provide the best resources for its drivers.