My advice is for those of you who have money issues or have aspirations to buy your own truck.
Download the Ramsey Network app to your phone and start listening to the Ramsey show every day in the truck. Listen for 3-4 weeks before you do anything else. Then take Dave Ramseys Financial Peace University class and start doing the 7 Baby Steps. You can take it online or in person at a local church. The classes are 90-120 minutes, once a week for 9 weeks. The best $139 I have ever spent.
Get yourself on a budget, do the debt snowball and eliminate ALL of your debt quickly.
Then you can really start power saving for a truck.
Don’t get sucked into a Lease Purchase…Lease is code for FLEECE!
Be patient, work hard, save accordingly and then buy your own truck. I’d also make sure you have a BUSINESS EMERGENCY FUND of at least $50K saved up in addition to your down payment for your truck. The more cushion you have, the easier it will be for you to ride out the rough times, slow freight, economy dips and other down times from medical issues or family emergencies.
You should also have a separate Emergency Fund of 6 months for your personal expenses and regular bills (utilities, rent, mortgage, etc).
Never mix your business expenses with your personal expenses.
Thanks to his program it changed my life, I’m almost out of debt, I just paid over $50K in student loans off and I’m about to have a fully funded emergency fund for the first time ever. I’ll be buying land to build on in Colorado next fall and paying cash for it. Then I’m saving up to buy my own truck.
I found his program by accident one Saturday back in May of 2019 while driving to Wamsutter for a linehaul run. I learned more about money from Rawlins, WY to Wamsutter, WY (45 miles) than I had in 38 years of my life.
I also do financial coaching on the side, so if any if you need help, send me a message and I’ll be glad to help free of charge.
