#1 Use Fuel Card
Most drivers use a credit card to pay for fuel. When you use a credit card you are also being charged interest of 26% or more.
With a good fuel card, there is no interest and you should save you between $0.10 – $0.15 per gallon at the pump. Not only that but most fuel cards also apply that discount on top of cash price.
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#2 Stop Paying Out of Pocket at the Doctor
Most owner operators don’t have access to health insurance which results in drivers having to pay out of their own pocket every time they have to go to the doctor, get a prescription, etc.
The health insurance plans that are available seem to be quite expensive on a monthly basis but it very well could save you a ton of money in the long run.
Some major examples of when not having health insurance could really hurt you and maybe even put you out of business:
- Break your leg: That’s going to cost you somewhere around $7,500 without health insurance
- Admitted into the hospital for a few days: You will be looking at a bill around $30,000
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#3 Find Free Entertainment
There are a lot of free sources to keep you entertained after a long drive. Instead of using subscription services that add up overtime, try using free entertainment online such as Spotify or Pandora to stream music, Sony Crackle for TV shows and movies, and Stitcher for listening to podcasts while you are on the road.
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#4 Don't Use a Crappy ELD provider
When the ELD mandate was known to happen, everyone and their mom decided to start an ELD company to try and sucker out as much money as possible from drivers. They would use bad marketing techniques to get drivers locked into a contract with their terrible ELD service.
If you hate your ELD provider, you may be eligible for a contract buy out so you can switch to the highest rated ELD provider in the country.
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#5 Have a Plan for When S*!& Hits the Fan
Owner operator drivers don’t like to think about it, but what happens if your truck breaks down and you are stuck stranded on the side of the road?
On average, towing assistance is requested from a driver twice a year. To tow your truck just 5 miles will cost around $500!
Every driver needs to have some sort of roadside assistance plan to bear these costs when they happen…because they will happen.
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#6 Eat Food That You Prepare Instead of Eating Out
This not only will save you a ton of money on food but could potentially keep you from going to the doctor as much as eating food you prepare is MUCH HEALTHIER than truck stop food.
It’s not difficult of time consuming to do this. With a power inverter, you can use small kitchen appliances in your truck.