24 C
New York

9 Pieces Of Financial Advice For Lease Operators


1)  Don’t think you know everything you can about truck driving yet. Try learning one new facet of the business every week.

2)  Figure out what your operational cost per mile and fuel cost per mile is for your tractor.

3)  Make yourself a financial reserve every week. Pay yourself a fixed salary that leaves (at a minimum) 25% of your net revenue.

4)  Revise your net earnings to a period over a month. Determine your job success over the course of an entire quarter.

5)  Take a serious look at how you can reduce or eliminate excess. Do you need this particular brand? Are you consuming too much?

6)  Make a finer calculation on what your average hauling rate range is.

7) Make serious attempts to boost your CSA compliance that will increase your demand among carriers.

8)  Work with the carrier you’re contracted to in developing specific monthly, quarterly and annual revenue goals that will help you meet your personal income needs for the year.

9) Review the progress of the other 9 goals every month during 2012.


Get the hottest daily trucking news

This Week in Trucking