Sometimes it’s hard for OTR drivers to get their banking done and pay their bills on time. Not because drivers don’t have the cash, but because they’re out of state. Here are some good apps to help you manage your cash flow.
Banking & Money Management Apps for CDL Drivers
1. The Acorns app is offering a $10 bonus to sign up as of August 2019. We love it because it’s cheap at $1/month, and works will all kinds of phones. A major selling point of this app is that it allows you to save or invest the pennies left over from purchases when you use your bank card. For instance, if you use your bank card to pay $1.79 for a soda at a truck stop, Acorns will take that remaining $0.21 and save or invest it for you. You’d be amazed how quickly small change adds up! You can save for retirement or help pay off trucking school.
2. Intuit’s Mint app has been around a long time and has a great reputation. We love that it’s FREE! The unique draw with this app is that it brings all of your banking together on one screen: your checking and savings balances, your debts and even your credit score. It’s like one-stop-banking, all from your phone or laptop.
3. Digit is a savings app that uses an algorithm to pull a couple of bucks out of your checking account and drop it into your savings account every few days. It costs $2.99 / month and works with most (but maybe not all) phones. Of these three apps, Digit is our least preferred for professional drivers. It has the highest cost, the fewest functions and is working in your account a couple of times a week. Unlike other professions that get paid daily (think barbers and bartenders) OTR drivers usually get paid once or twice a month. If you only haul local loads and get paid per load every few days this app might be a good fit.
At DriveCo we take a long term interest in our students. We want you to be successful with finances both before and after you complete CDL training. Saving money and paying bills is a huge factor in your long term success. To learn more about how DriveCo can help you with your finances, visit our CDL training tuition assistance page or contact us for more information.