Ever have a good day and then turn to the radio to The Ramsey Show? Let’s just put an end right now to that happiness you thought you had. Dave Ramsey is a money management coach, here to verbally slap purchases from your clutching hands and take you on guilt trips longer than the Mississippi River. But, he’s onto something we all need, and that’s to take control of our spending. To that end, Eagle Logistics wants to offer some budgeting tips for truck drivers.
We all know convenience stores make a great deal of money by selling you things you should have bought anywhere else. At least with stadium food or airport food, we all know we don’t need what they have, but with convenience stores, they sell what you HAVE to have, like motor oil and caffeine.. And about coffee specifically, did you know coffee in all forms creates one of life’s best forms of cheap entertainment? People watching. Ever watch an uncultured man try to order a plain coffee at a fancy coffee dispensary like Starbucks? Now that’s a good time. Want to see a put-together adult shaking like a bobble head doll waiting for the first drop of coffee to reach her lips like water from an aqueduct in a parched desert? Priceless.
Anyway, the key to this game is to prepare ahead of time. Making a trip to a grocery store for ingredients for simple meals can save you hundreds of dollars a month. Just don’t get stuck behind the lady with coupons or go to the lane with a cashier who is really young or really old. We’ve made a scientific study of this. Just looking out for you. But little things like double checking to make sure you’ve brought every essential with you such as phone chargers can make a big difference as well. We’ve heard that at some convenience stores on the coasts the prices are so high you have to make an offer on an item and then the clerk says, “Let me talk to my Sales Manager.” That may not be true, just a heads up.
For amenities, there are lots of small ways to save money that may add up. One example is using rest areas to avoid convenience stores when all you really need is a restroom break or to stretch your legs. Some convenient stores are so nice now and with so much to tempt you that they are like casinos. You want a quick bit of stimulation and you leave with a damaged credit score. Cheap showers and exercise rooms are also great ways to save money because they keep you healthy, and health care is very expensive. Programs like fuel savers, cash back rewards, price comparison apps like GasBuddy are all great for shaving off some fat from the ledger. There are plenty of others that will help you record expenses to make sure you get the maximum amount of tax deductions.
Be careful when choosing your programs, though. Not all are friendly. Cash advances and credit cards you can’t pay off monthly are not your friend. If you can’t trust yourself to use a program in the best manner, just switch to paying in cash. Statistically, paying cash will save you approximately 10 percent on your total expenses. That number comes from Dave Ramsey’s materials, who, as we have already discussed, has little interest in what is easy or fun. However, the man does know a thing or two about how to save money, so maybe look into his envelope budgeting system.
We know, you’ve heard it all before. It’s too difficult, or maybe you’re hitched to a partner that thinks buying a four-pack of Worcestershire Sauce for a family of two is saving you money. Perhaps you’ve failed many times and you know you have a shortage of will power. Well, the good news is there are some new products that make keeping a budget much easier than it used to be.
There are mobile versions of some pretty hefty money management software now. There are also linked accounts so you and your cohabitants can enter purchases for record keeping and the budget is updated instantly on all the attached devices. Some eliminate the paper trails and most will categorize the expenses automatically. These are wonderful advancements that behoove us to take advantage of them.
Avoiding the evils of compounding interest is another of the great budgeting tips for truck drivers. The advertised interest rate on a credit card is misleading. That interest rate is charged every day, as opposed to monthly or yearly in many other loans. That means that each day’s interest collected is part of the new balance that will be taxed the next day, so the amount you need to pay off grows very rapidly. Avoiding those balances is paramount, and you do that by reducing outgo and increasing the inflow through the tips above.
These tips are not exhaustive. There are many others. For example, you can reduce the number of romantic endeavors by having poor hygiene, avoid buying gifts for family by discussing politics beforehand, save on a gym membership by lowering your standards for yourself, and avoid the cost of therapy by bottling everything up until you die, and let’s not forget the most fundamental of the budgeting tips for truck drivers - prevent costly accidents on the highway by scaring away other drivers with a classy face tattoo.
Eagle Logistics, LLC. is a family owned small business with a love for trucking and an ever greater appreciation for its team members. If you are considering driving, contact us. We are always looking for quality drivers who fit into the positive work environment we nurture here. We are growing, successful, and well respected. Give us a chance to show you how we do it!