Rules of thumb. Where does the money go

Truck. Fuel. 10% or more aside not to be touched. Anything that is outstanding where possible related to the Business. Driver is last. Tires is the number three problem behind fuel once a year or so.

 

Pay the truck / business first. It has to eat before I can eat. Pay myself once a month. My pay depends on how much I need. I draw a small salary at the beginning of the year basicly just to survive. Come Sept Oct Nov I am drawing large amounts. It all adds up the same, 75k for the year gross. I like it that way for retirement tax planning as well as keeping money out of tax man's hand for as long as possible. It is also better to have plenty of cash on hand. I don't do mileage pay or percent or whatever. It ends up working out to about double what I made as a company driver, and I take a lot more time off.

 

A very general rule of thumb used to be 1/3 fuel 1/3 truck payments and repair and operating costs and 1/3 to the owner.

 

Do not know never had any come in!

 

My system works really well. Its hard to explain though. Send me your checks and ill take care of it for you.

 

Ex wife = some of it.
Ex wife 2 = some more of it.
Wife = whatever is left over.
Me=The guy begging for change at the TS.