Question For O/Os regarding expenses

We spend little over 1k a month for health insurance for the family. Wife, two girls, myself. Man, you can make a living with your own truck, just buy an older one and make sure you can do minor repairs yourself. I have even went as far as to have changed a grease seal in a parking lot myself. Make sure and not get in too deep with payments until you are sure being an o/o is the way to go. Good luck!

 

http://www.ehealthinsurance.com/family-health-insurance Fill in the information and get your quotes

 

Lots of my friends just let their wives' job pay for health insurance. All the planning in the world isn't going to keep something unforeseen from happening. Just pray alot.

 

I just got back from the local shop after going in last night at 10pm for a DOT inspection. I took my steer brakes and two chambers in with me figured I would just let them do it as the cost wouldn't be to much. Ha. Had a wheel seal out and while changing the front brakes noticed I had a bad kingpin also. Yay for me... So after changing the front brakes, two brake chambers and putting in a new wheel seal I was ready to go after 5 1/2 hours and $468 later. What a night.... I got a quote for the kingpin work for $1600 but after letting them know that I keep bringing my business back to them they lowered it to $1260. So that is next on my agenda.... So yes there are unforseen things that come up but I still make good money with a used truck and I don't have the BIG truck payment for a NEW TRUCK.

 

Volvodriver' may I ask how long you've been running your business that way?

 

I started as an owner op almost 3 years ago. I pull a flatbed and make decent money so since repairs do not need done every week I do have ample time to save a little back for when the time comes to make the repairs. Like I have stated my trucks have been paid off within 3 months of me owning them so I have never had a payment over $500 month and that includes my start up fees like 2290, insurance and fuel to get started. My opinion is WHY go in debt on a NEW truck with payments of $1200-$2800 per month when you can buy a $20,000 or less truck and make the same amount of money as the guy with the NEW truck payments. Which one sounds better?

 

Myself I put $500 per week into an account that I use for my repairs. I also borrow from my repair account for personal items that I want like my motorcycles and my boat. At $500/week I put it right back into my account so I keep a high balance for repairs.This is just the way I do it. Everyone is set up differently...