If you are a truck driver you know that you work extremely hard for every dollar that you earn. And the last thing you want to do is waste it when you worked so hard for it! As a HC Linehaul Truck Driver for example you might be driving around Sydney and know firsthand how hard it is to deal with the traffic roads and tolls.
Being in control of your money can feel like a stressful challenge. Its easy to lose track of your money if you aren’t home to manage it but with a little planning you can master your finances and make the most of every hard earned dollar. How? With the dirty B word – BUDGET. seo analysis Read on and we’ll make it a little less dirty with some simple spending and saving tips.
- Know your spending habits. For 30 days write down everything you have spent your money on to analyse exactly where every dollar is going. That includes every packet of gum and every bill paid. Create a note that tracks everything.
- Determine what your take home pay is. It’s important to know exactly how much you have to work with (after tax). If you have a second or third income from rent or a second job then include that.
- Take your list of expenses and categorize your spending. Account for very dollar you spent in the last month and you will see a fixed picture of your spending.
- Now take a look at what you earn minus what you spend. Is there anything left? Are you saving? You should be putting some money away from every pay cheque so that you have a nest egg for the future.
- Analyze spending. Think about what you have spent so far starting with discretionary spending. If you are eating out and spending $20 a pop every night of the week then consider if this is a good way for you to be spending your money, and if its not investigate alternatives. Maybe you can start packing a pre-packed lunch or dinner instead of buying it everyday. Most HC Trucks will have enough room for an esky! Think about what you could live without and subtract that from your monthly spending. private cloud . It’s amazing what small changes can amount to when you have the discipline to create change in your life.
- Start scheduling in payments on your smartphone calendar (if you don’t already) on the road so that you pay bills on time and don’t get stung with late fees or miss out on early bird payment discounts. If you don’t have a plan for how you can pay your bills on the go your financial life can become a disaster. As such its important to have a laptop or mobile phone with internet banking access and have a list of fixed bills and expenses that you need to pay, and schedule a day when you address your finances.
- Monitor your budget. Keep an eye on your budget and create a plan for what you spend. Review it to make sure you are on track and working towards your unique goals.
- Make sure you have your superannuation details with your employer or recruiter. At Drivers we pride ourselves on ensuring that we take your correct details and pay the fund that you wanted. Not every employer is ethical or will pay this, so make sure you keep track of your super.
The great thing about starting to save is that you will have money available for other bigger things, like a house, or car, or your kids school fees, and if those things don’t motivate you – you are able to buy something fun like a bigger truck!
Many Truck Drivers have someone at home manage their finances for them. And that can definitely work well but ultimately it’s your responsibility and your future so its worth taking charge of.