Financial Advice for those wanting to be an O/O

His program works if you make a decent living.

 

No financial program works if you don’t have any money ….

figure out a way to make decent money ,
Spend less than you earn never borrow money for anything except real estate and save and invest what you don’t spend ,

it’s pretty basic , and logical . But listening to the number of people who buy cars that cost more than their annual income and north the money to do it , is confusing to me , can that many people people really be that financially dumb ?

i borrowed money for a car exactly once
And never again.

I did a lease purchase for my first truck but it was a walk away lease , bring the rig back and toss the keys and walk away if you want .

and his advice for people who don’t make much money is always : figure out a way to increase your income .

which is why I got into trucking in the late 80s
I was earning $950 a month before taxes working at my dream job at a state park .
I got tired of being broke.
decoded I wasn’t going to be dirt poor and penniless my whole life

I grew up in a beautiful rural Appalachian area, but in rural Appalachia 28 miles from the closest traffic light , in 1981 Carter America, when I graduated high school , which was kind of like the recession that’s fixing to hit , gasoline prices had just doubled , again , mortgage interest rates were high, inflation was high , Russians were invading neighboring countries , etc there were zero jobs.
And I wasn’t going to be penniless all my life like everyone who lived there .


i worked my butt off and earned $6000 before taxes the first month I was driving.

 

It also plays on SiriusXM channel 111 from 5-7AM central time Monday through Friday, and at various times throughout the weekend.

His teachings took me from struggling to keep ramen noodles in the pantry and my phone turned on to being debt-free with a fully-funded emergency fund, building a nest egg for retirement, and saving up a down payment to replace the house I lost in a divorce. His teachings work, but they don't work overnight.

 

Comes on at 1pm Central weekdays on channel 132.

 

Is this where all the KR nuthuggers are going now that he’s been #### canned? Asking for a friend…..

 

Dave’s been around way longer than KR. It’s all basic common sense stuff, only some people need to follow a program to get everything done. Dave’s stuff is more for the people who have been borrowing their way through life and have grown tired of it and need advice finding their way out. If you’ve always been good with money then there’s not really a whole lot you’re going to take away from his teachings.

 

It really is simple.
Live a minimalistic life until you have your house and car paid for. Then save as much of your income as possible.

I see the Ramsey show as one long commercial to sell his baby step program and his books. If you listen to a handful of his episodes, you pretty much heard his entire pitch.
To the caller he says "eat beans and rice. No debt and Buy my book or buy my seminar".

 

This ^^^^^

I would much rather listen to music or Howard who is funny, Joe Rogan is good to.

 

I’m seeing lots of used trucks on the market.

Another option would be to call any and every trucking company you can think of and start asking questions about becoming an O/O…not a lease operator. The reason to call is so you can speak directly to folks that have a program already in progress and then compare all the data you collect from each carrier.

If you do not own your equipment out right AND have cash in the bank to cover your expenses for a year, consider leasing on to a carrier with equipment you buy yourself…don’t lease from a carrier.

If you can’t find funding to buy a truck on your own, you’re not ready to buy it. When you are ready, let another company provide loads and do your paperwork, you’ll have enough on your mind just worrying if the truck will deliver the load on time. Stuff happens and that’s where you get into trouble.

I agree debt free is great, but leverage can be a powerful ally if used properly. It’s easier to leverage when you have data from companies that you can run under.