Being on the road so often might seem to be a great way to save money but there are many hidden costs that those who are not involved in trucking are not aware of. Actually, saving money on the road is pretty challenging. But, hey, everything starts with a plan and smart money saving tips.
Money earned from trucking is hard-earned money. Professional truckers spend a lot of time away from their home base so they often have little choice when it comes to buying things they need. Further, things bought on the road are usually much more expensive than usual.
There are plenty of useful money saving tips on how to make your money last on the road. You just need to be smart with your money and you’ll see a huge difference.
Set up your budget and stick to it
Setting up your budget is a number one asset when it comes to saving. First of all, plan your road adventure and line up your budget. Estimate your average income and expenses and get a more specific idea of your monthly spending. It’s also great to plan your budget for different categories such as food and drink, entertainment, etc. This will help you avoid overspending. It might sound like a hard step but once you do the maths, you’ll have a clear picture of your on-the-road financial situation.
Try to log how much money you spent out of your budget each time you bought a thing. You’ll find out that you spent at least over half of your allotted budget. Not being aware of where you’re spending your money makes it more difficult to keep a track of it. Having a detailed insight into your spending will help you lower your expenses.
Take advantage of discounts
Do a bit of research and find out what places offer some sort of discount for goods and services you need. The savings might not seem high, but they will add up over time. Leave aside the price difference and after a month you’ll see how much you saved.
Further, if you often buy in certain stores, check if they have a loyalty program and join it. Get yourself a loyalty card and you’ll take advantage of lots of discounts.
A lot of food services and hotels have special discounts for professional truck drivers. Take a minute or two to google it and you’ll save some money.
Pre-plan your meals
Food costs can vary dramatically depending on where you eat. Eating out at restaurants every day can be a large expense that you might not expect. The cost of groceries bought in a store is a lot cheaper than having a meal served in a restaurant regularly. However, here is a breakdown of how much truckers spend on food each month.
Truckers spend most of their money on meals. That’s the fact. Did you know that meal prepping can save you thousands of dollars a year? That’s the fact as well. Restaurants can be pretty expensive. Pack your meals at home. Bring some healthy sandwiches, trail mix, or other meals that can quickly heat up. This way you will twice decrease the number of times you eat in a restaurant. You’ll not only save money but you’ll also eat healthier. Here you can find more ideas on healthy eating on the road.
Among many money gobbles, coffee is the number one. Investing in a coffee maker can seem like a big investment but when you do the maths you’ll find out it’s much cheaper in long term. Thus, a one-time investment in items that you use every day is one of the best money saving tips.
Use budgeting apps
Use an app to keep a track of every penny you spend. Budgeting apps make it easier to create and keep to your budget. Once you get used to the apps, they’ll become a part of your daily routine. There are apps that can be connected to your bank account and you’ll have a record of every transaction. Moreover, you can put money into categories each pay period and you’ll have a clear idea of how much you spend on food or other items or places where maybe you’re overspending.
Starting with a new habit is never easy but it’s possible. By following these money saving tips it can get easier and smart budgeting will become an ingrained habit in your life. You don’t need to be a financial ninja. Being mindful of your spending and having a bit of self-discipline is enough to save a lot of money on the road.