Caution Prospective Independent O/O! My Embarrassment.

I don't keep maintenance account nor truck replacement fund but about 20-25k on my business account and balance that with credit, if needed.So all of the above mentioned allocations must be included there in that available cash pool. What brought my attention to this was too much credit used. The profit is simply all the money I was able to generate after all the money I spent. I pay myself a 2000-2500 a month as payroll wage, the rest I pay myself as a dividend and all that was already a part of that profit. So the picture becomes even more alarming, if you consider the fact that I paid myself already 25k in wages and another 15k in dividends. I had to balance my minimum cash limit with credit, which is unacceptable any longer.
I was not able to get the right rates (perhaps due to my ineptitude) or wanting to run more, to offset the cost side, which in my belief should be pretty representative for an average Joe with a dry van. In other words, I don't see that much room for improvement there but rather that the improvement should be on a revenue side.
It is all right now, so the overall situation is not so gloomy. I also run for over 2 dol a mile, all miles in the last ten weeks, but is it going to last only till December and then again from January to June I'll have mediocre rates? We'll see...

 

Chicago area parking; North West suburbs locations are 200 - 300 a month...South side up to 150 a month. I live in the North West part. At times, I spend money on reserved parking at truck stops too.

 

You have a hell of a job. Paradise! I am sure you'll retire a millionaire with that 401 k contributions too. Just don't get fired before 57 years of age.

 

That's interesting concept. A perpetual truck payment is not something I have ever thought about. I even thought I could be more competitive with a paid off truck, meaning I could afford to run for lesser rates. Hell! If I had a new truck payment, I would have really gone under by now...