Month: July 2018

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.

Mobile Banking

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.

Finance Apps

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.

Money Podcasts

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.

Updated September 2024

OTR (over-the-road) trucking consists of hauling loads across the country meaning drivers are away from their families for weeks or more at a time. While a career in trucking can provide remarkable stability and opportunities for your family, being away from your loved ones during long hauls can be incredibly challenging. It’s completely normal to feel loneliness and homesickness, as many truckers share these feelings, but embracing a positive mindset can help! Remember that the time spent apart makes your reunions even more special, allowing you to be more present and engaged with your family when you are home.

Consider Networking

With a community of 2 million professionals doing OTR trucking nationwide, you are not alone in this journey! You have an entire network of individuals who understand how you’re feeling. There are Discord communities and national organizations that connect truck drivers. Don’t hesitate to confide in one another and share tips on how to stay connected with your loved ones while on the road. Always remember, your friends and family are proud of you and appreciate the important work you do to keep the world moving.

Stay Connected with Loved Ones

Technology offers many ways to stay close, even when you feel far away.

Scheduled FaceTime/Video Calls: Choose a dedicated time each day, whether morning or night, to FaceTime your family. This routine helps avoid phone tag and creates anticipation for your catchups.

Family Texts: Prioritize sharing little moments throughout the day in your family group chat. Whether it’s a personal experience or a funny video, these small messages can help maintain connections.

Plan Visits: If possible, coordinate visits when you know you’ll be passing by interesting locations. Meeting up at national parks or other fun spots can create cherished memories and break the solitude of long drives. Don’t forget to reach out to old friends or family in towns you pass through!

Keepsakes/Pictures: Collect small trinkets, stuffed animals, or photos from your family to take on the road. Keeping these items in your cab can provide comfort during moments of loneliness, reminding you of the love waiting for you at home.

Online Activities: Utilize apps that allow you to stream movies and shows together or play text-based games. These shared experiences, even from a distance, can help strengthen your bond.

Send Postcards: Mail postcards from your stops along the way! Your family can collect them, serving as a reminder of the distance you travel and where you are passing through.

Connection is Key

Keeping a positive mindset is crucial; always remember who you’re working for and the goals you’re working towards.  Reach out to your OTR trucking community and share your experiences with them. Staying connected is not only possible but will enhance the trucking experience while improving your relationships with friends and family. If the challenges of being away become overwhelming, remember that you can explore local or regional truck driving options as well.

Interested in a Career That Offers Financial Stability for Your Family? Give us a call to learn more about truck driving school and opportunities!

Updated October 2022

In America, the average truck driver is a 48-year-old male—a decrease from 55 a few years ago, yet still means more drivers are retiring than coming into the industry. Coupled with America’s shortage of truck drivers, which is currently estimated to need 80,000 drivers and could rise to 160,000 drivers by 2030, 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:

Eligibility Restrictions

Most companies require you to be 21 or older to drive. Because of the age requirements for CDL licenses, there is 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.

Pay Increases

As the demand continues to rise, salaries will too. The median pay for a truck driver is currently $77,791. This can be very lucrative for young workers. 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 to cut down on the hours a worker can drive. This will lead to more productivity and less fatigue. Combining this with the rise of more regional and local truck driving jobs, the industry is trying to become a better place to work.  

 

DriveCo Learning Center is a top choice in CDL Training that will allow you to take advantage of the growing benefits for truck drivers. Now is the perfect time to begin your career in this adapting field. Learn more by contacting us today.