How did ya all get started?

Nope. But you need a decent break down fund, if buying an out of warranty used truck. A blown engine can set you back 10 to 30 grand depending on what needs done and who does it. An ecm for mine was $3600. Cracked exhaust manifold, $3400. It all adds up. Fast.

So, if you throw all your money at getting a truck, that first major break down is going to park your truck while you go back to driving for a company. Which almost happened to me.

 

It just boils down to stop making excuses, cut the expenses and pay off every debt except the mortgage. It's really not that complicated. It's just a matter of breaking bad spending habits. Stop buying things you don't need to live. Examples: Stop spending 2 bucks 3 times a day on a soda at the gas station. Buy groceries and cook instead of eating out. Pack a lunch instead of running to burger king. Quit smoking, that alone is 3500 a year easy. Cut the cable and Internet, there is another 150 a month. Get rid of the pick up for a Honda civic that gets triple the gas mileage, cost 30% less to ensure and license, and has literally less than half the maintenance costs.

Keep in mind this was directed at the theoretical average joe you mentioned, not you specifically. But if you really look at your spending you will find places you can save.

Your first step should be tracking your expenses. Every purchase. Even a stick of gum. Write it down. Do this full a full month, and include EVERYTHING. You will find there is room to save. The more fanatical you get, and the more your friends laugh at you, the quicker you will be ready to buy a truck. It's a long slow process, there is no easy button. You just have to decide if the reward is worth the sacrifice.

Also your numbers are way off. At 50k a year there is no way the net is only 3k per month. That would be 24k in taxes, 48%.

 

Oh ok. Well I'm thinking about getting my authority. Saving up for a down payment and a lil for maintenance

I'm in the same boat. Figuring out how to save money and how much to save to get a good truck

 

Like i said, track your expenses for a month. You will find a few places to save money. Maybe it's 30 bucks a month on gas station drinks/ snacks. Maybe it's 150 on fast food. I don't know you so i don't know what your spending habits are, but i guaranty there is room to save money.

 

50k a year isn't 20% income tax. But there is room for more savings in your budget. There always is. Every single one of us spends more money than we need to.

 

I could not find job according to my degree in Wall Street so I became a Trucker

Once I am planning to do IPO on Wall Street for my 1000+ truck company. Or I am going to come up with some innovation in this business. For example something like teleportation of load, or invisible DOT regulation free truck. We will see but definitely I am not going to be just regular 1000+ truck company.

 

4x12=48 if you can live with your numbers you should be able to save 3k a year. Multiply that by 3 or 4 and you can be on your own within 3 to 5 years. And not do it with a crap load of debt

good luck with that