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Practical suggestions for saving $ for O/O

Discussion in 'Ask An Owner Operator' started by Sandman 660, Jul 15, 2017.

Page 1 of 5
  1. Jul 15, 2017 #1
    Sandman 660

    Sandman 660 Light Load Member

    103
    116
    Jul 15, 2017
    Weatherford, Texas
    0
    Hey All, new O/O and board member looking for insights on smart ways to reduce costs.
    I have great credit so I financed a loan and have a good payment on a 2013 T660. All is well there. I run about 2200 to 3k miles a week depending in the loads, and buy bulk food to avoid spending on the road. I even gave up tobacco lol.
    I'm looking to buy cat eyes to preserve my drives, a thermo king APU to reduce fuel costs, my wife's a lawyer and we have an accountant for tax purposes.
    Are there any smart practices I can use to be more successful and frugal?
    I'm a solid planner and have been a solid company driver and my work ethic is great.
    Just looking for tips from the vets and any and all suggestions that can help. I've learned tons here already just reading threads.
    Thanks!
     
    Sandman 660, Jul 15, 2017
    Sandman 660, Jul 15, 2017
    #1
    TallJoe Thanks this.
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  3. Jul 15, 2017 #2
    Night_driver

    Night_driver Light Load Member

    295
    82
    Sep 20, 2014
    Grand Rapids, MI
    0
    I hope you stay away from factoring companies and quick pay. That can save you $6,000-$8,000/year. I did factor for only 2 months and used quick pay for up to 6 months until I saved enough cash.
    Are you getting a used APU?
     
    Night_driver, Jul 15, 2017
    Night_driver, Jul 15, 2017
    #2
    TallJoe Thanks this.
  4. Jul 15, 2017 #3
    mitmaks

    mitmaks Road Train Member

    2,542
    2,064
    May 16, 2014
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    Do your own maintenance/repairs as much as you can. Every little bit helps.
     
    mitmaks, Jul 15, 2017
    mitmaks, Jul 15, 2017
    #3
    rank, MkeOperator2017 and Sandman 660 Thank this.
  5. Jul 15, 2017 #4
    Sandman 660

    Sandman 660 Light Load Member

    103
    116
    Jul 15, 2017
    Weatherford, Texas
    0
    I'm leased to swift until February so no boards right now. I really wanted the evolution from thermo king Christiansen, any idea where to find used ones? That unit has an 1800W inverter
     
    Sandman 660, Jul 15, 2017
    Sandman 660, Jul 15, 2017
    #4
  7. Jul 15, 2017 #5
    Night_driver

    Night_driver Light Load Member

    295
    82
    Sep 20, 2014
    Grand Rapids, MI
    0
    Also get a discount fuel card. I got mine through NASTC. $250 a year but you'll save 20-30 cents/gal. Only thing you'd have to go to TN and sit 1 day at the seminar where they try to sell you more services
     
    Night_driver, Jul 15, 2017
    Night_driver, Jul 15, 2017
    #5
    Sandman 660 Thanks this.
  8. Jul 15, 2017 #6
    Sandman 660

    Sandman 660 Light Load Member

    103
    116
    Jul 15, 2017
    Weatherford, Texas
    0
    My wife is a lawyer and her boss worked his way through college as a diesel mechanic and then became a driver and paid his way through law school. He's my go to guy and I love wrenching too. That's a great tip too, Thanks!
     
    Sandman 660, Jul 15, 2017
    Sandman 660, Jul 15, 2017
    #6
  9. Jul 15, 2017 #7
    Sandman 660

    Sandman 660 Light Load Member

    103
    116
    Jul 15, 2017
    Weatherford, Texas
    0
    Think the company I'm leased to would get deeper fuel discounts? I thought about doing what you said and my nephew who's an o/o said I'd be better using the company's fuel discount. Thanks for the heads up
     
    Sandman 660, Jul 15, 2017
    Sandman 660, Jul 15, 2017
    #7
  10. Jul 15, 2017 #8
    stayinback

    stayinback Road Train Member

    3,911
    8,255
    Jan 24, 2014
    chicago,il
    0
    Repairs/Maintenance yourself is a MUST to financially flourish.......

    Buy tires direct from wholesaler/or Manufacturer if you can license that.

    Do your own bookkeeping- Dont hire outside resources your savings will be thru the roof,

    most important, do your own service- these shops Will NEVER care about YOUR equipment like you will,At over $100 per hour- Its not worth it.

    Lease space to park your equipment-Start buying Tools- A trans Jack- A Small Crane or Forklift- Air Tools Etc- You MUST get Dirty to Enjoy financial Bliss with 1 Truck.

    Also- Dont Be Fooled with these outside Marketers Selling their Cr@p- And Dont Hire outside Anything UNLESS you decide to put on several more pcs of equipment.

    30 years of service and the best advice I can give.
     
    stayinback, Jul 15, 2017
    stayinback, Jul 15, 2017
    #8
    nax, DDlighttruck, rank and 3 others Thank this.
  11. Jul 15, 2017 #9
    Trucker Darrisaw

    Trucker Darrisaw Light Load Member

    77
    58
    Jul 10, 2017
    0
    Why do you keep saying your wife is a lawyer? You do realize that makes you seem less than a man? I mean, it seems that you are not as confident in your abilities without letting others know shes a lawyer. Bit of advice...... Grow your own brand... This is trucking.. No one cares if she is a lawyer or a stripper. The only thing in trucking that matters is..... Can you deliver a load safely and on time. Can you make money?

    Now I would bust your balls and ask you WHY in the hell you are at swift and leasing a truck if shes a lawyer but I wont.

    Keep Trucking and stay safe
     
    Trucker Darrisaw, Jul 15, 2017
    Trucker Darrisaw, Jul 15, 2017
    #9
    BoyWander, TequilaSunrise, Western flyer and 1 other person Thank this.
  12. Jul 15, 2017 #10
    Sandman 660

    Sandman 660 Light Load Member

    103
    116
    Jul 15, 2017
    Weatherford, Texas
    0
    Any suggestions for book keeping software? Quick books I presume?
    Any leads on Michelin wholesalers?
     
    Sandman 660, Jul 15, 2017
    Sandman 660, Jul 15, 2017
    #10
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