Weekly budget question

Discussion in 'Ask An Owner Operator' started by philv, Dec 28, 2016.

  1. philv

    philv Light Load Member

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    Aug 15, 2008
    Surprise, AZ
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    Hey y'all, as some of y'all know I just graduated uti for diesel tech. Looks like these companies don't want new techs so I'm looking to go back otr. My question is, how much should I budget on a weekly basis for expenses? Like insurance, accountant, plates, taxes, etc. I already figured 1400-1600 a week for fuel running 3500 miles. And 1500 a week for repairs and servicing. I want to have enough in an account for 1 month so I have a cushion.
     
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  3. V c2c

    V c2c Light Load Member

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    Waco Texas
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    Are u looking at o/o, or running under your own authority?
     
  4. philv

    philv Light Load Member

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    I'm not sure. I think having my own authority would be the best.
     
  5. V c2c

    V c2c Light Load Member

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    It is the best and most profitable way 2 go. Do you have a trailer yet? Any contacts 4 direct customers and shippers? Also things 2 keep in mind. New authority your insurance on a single truck and trailer will probably be in the $1200-2000 per month range. Also a lot of brokers and shippers won't contract with you until you have minimum of 90 days active, and that is a select few. A lot of others want 6 mths to a year. Also with have more start up cost. IRP, UCR, BOC, and IFTA.
     
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  6. philv

    philv Light Load Member

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    Aug 15, 2008
    Surprise, AZ
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    I do plan on buying a trailer, but most likely not in the first six months. I want to get established before I add any extra expenses. I think for the first 6-12 months I'll lease on with a known good carrier to get loads, then work from there.
     
  7. V c2c

    V c2c Light Load Member

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    Waco Texas
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    Ya probably good choice. Lease on. Save up some cash if don't have it yet. Good number is have at minimum 10k cash set aside after all the startup cost you dish out, also make sure you are signed with a drug testing consortium and pay your 2290tax also. Insurance will be $1500-$1800 as long as you have a clean record starting up. Truck and trailer payment will vary of course. And fuel same but you can get those figures better than myself pretty easily yourself. Ifta taxes aren't so bad.
     
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  8. philv

    philv Light Load Member

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    Aug 15, 2008
    Surprise, AZ
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    Thanks, I was kinda figuring around 15-18k just Incase I had a major repair to do. Whatever truck I buy, I'll definitely put new virgin rubber on and change all the fluids and filters and doing an oil sample. Last thing I need is a major repair after start up.
     
  9. special-k

    special-k Road Train Member

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    Southern Ontario Canada
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    I would think fuel should be around 1000 a week. General maintenance for a tractor and no trailer around 250 a week. My plates and ins run 250/wk yours might be higher though. Your wages another 1000/wk. Plus your truck payment. Those are my rough numbers for you.
     
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  10. philv

    philv Light Load Member

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    Aug 15, 2008
    Surprise, AZ
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    Yeah I was figuring 6.5mpg 2.75 a gal at 3500 a week. So if I budget 4k a week minus fuel and truck payment, I should be OK?
     
  11. philv

    philv Light Load Member

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    Aug 15, 2008
    Surprise, AZ
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    Do you think 10k would be enough for start up costs?
     
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