Updated September 2020
Keeping track of your finances can be difficult when you are on the road. Are the bills being paid? How much is my credit card bill? How much should I be saving? All these kinds of questions may be swirling around. If so, here are 5 ways you can get a handle on your finances when you are out on the road and far from home.
Check to see that your bank has an app that allows you to check your balances, pay your bills, and receive electronic deposits. This should help you see how much money you have in the bank at any given time no matter where you are.
Electronic Bill Pay
Set up all your bills to be paid electronically. This includes your phone, electricity, water, and rent. In some cases, setting up electronic bill pay could get you a discount on your overall bill.
Keeping track of your finances over the road doesn’t have to be a headache. There are several apps out there that can help you stay organized and manage your cash flow while OTR.
- The Acorns app lets you set up automatic withdrawals to a linked investment account all from the comfort of your truck. 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. You’d be amazed how quickly small change adds up! You can save for retirement or help pay off trucking school.
- 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 a one-stop-banking, all from your phone or laptop.
- 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 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.
- LearnVest is an online tool to help you set up a monthly budget. It helps to keep your spending low when expenses are high, ensuring you are using your money smartly!
Credit Card Just for Travel
To help you stay organized while you are on the road, get a credit card that is just for when you are on the road. Instead of cash, use this card for all your expenses. It will help you keep to your spending limits by allowing you to see the total amount spent on a daily basis when you check the app.
If you are looking for ways to stay on top of your finances, Inc.com recommends 10 Podcasts That Will Make You Smarter With Your Money. Take the time while you are on the road to check them out and get ahead of the money game.
These are just a few ways that you can stay on top of your financial game while you are on the road. Saving money and paying bills is a huge factor in your long-term success both before and after you complete CDL training. 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.
As a trucker, you will no doubt feel homesick every now and again. It’s difficult being away from friends and family for days or weeks at a time. To help overcome those feelings of loneliness, try some of these ideas to make your days (and nights) a little easier.
Set Up Video Chat
Before you head out on the road, set up a video chat app on your phone like FaceTime for iPhones or Skype. It will give you an opportunity to stay connected in a more personal way when you reach your destination.
Live Stream or Record Special Occasions
Ask your partner, friends or kids to live stream or record important events. You can play them back when you have reached your destination.
Take Pictures While on the Road
Is there is a special stuffed animal or gift that a loved one has given you to take on the road? Make sure to take pictures of all the places you have been with this item. This lets your loved one know that you are always thinking of them while you are away.
Bring Special Foods From Home
If there are certain foods that help remind you of home? Bring them along! For shorter trips, bringing items that can be kept refrigerated should be fine but for longer trips, think cookies, cakes and other baked goods.
Keep Recent Photos or Memorabilia in Your Cab
Having pictures of your family member or friend nearby is a great way to help keep away the homesickness. Another idea is to have something special of theirs with you. It will also help remind you to call when you reach your destination.
One of the more difficult things while on the road is being away from loved ones. These are just a few suggestions on how to make the days a little easier. However, you shouldn’t let the fear of being away from home stop you from entering a great industry. Truckers are paid now than ever before with plenty of options for you to be home with your family! For more information on how to become a truck driver, contact us.
In America, the average truck driver is a 55-year-old male—meaning a large percentage of the industry will be soon hitting retirement age. Coupled with America’s shortage of truck drivers, which is currently estimated to need 51,000 drivers, there is a crisis in the trucking industry. As demand for delivered goods reaches an all-time high, this current and future void in the workforce is immediate and imminent.
To help meet rising demands, companies are finding new ways to attract young workers into the industry. The most efficient way of growing this industry is to harness the millennials hitting the workforce.
Here are a few ways companies are looking to do this:
Most companies require you to be 21 or older in order to drive. Because of the age requirements for CDL licenses, there is currently a gap between high school graduation and driving eligibility.
Congress has recently introduced the DRIVE-Safe Act. If passed, this will help qualify more drivers quickly and efficiently by implementing an apprentice program for those under the age of 21. This will create job opportunities for 18- to 21- year olds without the fear of college debt.
The median pay for a truck driver is currently $42,480. This can be very lucrative for young workers. As the demand continues to rise, salaries will too. Companies are implementing new sign-on bonuses for drivers, which can reach as high as $10,000. According to the National Transportation Institute, drivers with private fleets earn as much as 36% more than their for-hire counterparts. The NTI predicts that per-mile pay will increase dramatically in the coming years.
Less Time on the Road
Unfortunately, the truck-driving lifestyle is often a turn-off for young workers and can be a safety hazard. The Federal Motor Carrier Safety Administration has implemented a new mandate that will cut down on hours a worker can drive. This will lead to more productivity and less fatigue.
Now is the perfect time to begin your career in this adapting field. DriveCo Learning Center is a top choice in CDL Training that will allow you to take advantage of the growing benefits for truck drivers. Learn more by contacting us today.