6th June 2019

The Truck Driver Guide to Budgeting on the Road

Truck drivers are an important cog in society, they are responsible for moving 85% of everything we buy, wear and eat and drive up to 125,000 miles a year on average. For all their efforts, it can be easy to spend large chunks of wages whilst working away, reducing the amount of cash that ends up in their pocket. SNAP have created five top tips to help drivers’ budget on the road:

1. Cash Allocations

Sticking to a premediated budget is definitely easier said than done, but by thinking about your expenses and controlling your spending, you are certain to save some money. Take the time to estimate how much you think are likely to spend throughout the days, weeks or months you are on the road and stay vigilant to those figures.

Set a maximum amount you want to spend, particularly for your meals and ensure you stick to them, especially at the beginning. By efficiently budgeting during the earlier stages, it will become easier to continue and you will undoubtedly see a fuller piggy bank at the end of the month.

2. Street Smarts

It may sound obvious to some truck drivers, but by avoiding speeding fines, parking tickets and other penalties, you are saving money. Sensible driving and parking awareness will help to keep your outgoings down.

If your overnight parking site provides free WIFI, use it. It might not be the strongest connection, but by saving your mobile data, you are saving money. Perform your daily vehicle checks to reduce the risk of maintenance or breakdown costs and any extra repair charges. These are all budgeting top tips.

3. Think Outside the Box

Saving money sometimes takes unorthodox thinking. Can you avoid driving your truck on toll roads? It might be a tricky task but could definitely free up a bit of extra cash. If you’re a self-employed driver, make sure your taxes are done right and claim back any rebates that you are owed.

Does your vehicle have cruise control? Make the most of it on the longer journeys, it might seem insignificant but by reducing the amount of accelerator foot-time, you are saving fuel, saving costs and budgeting on the road.

4. Rainy Day Fund

Setting money aside for rainy days is a challenge when you are struggling to save. But you might have a good month, from extra hours, bonuses or a rebate. Instead of splashing all the well-earned cash, setting some aside could come in handy when the budget becomes tight again.

5. SNAP Account

Are you a truck driver who works away? Are you tired of collecting receipts and handing over cash? SNAP Account is the perfect tool for you. It is a smart-payment solution for professional drivers looking for an easier life on the road. Register your vehicle licence plate online, then any time you park or wash your truck at a SNAP location, or use the Dartford toll, it will be added to your weekly, itemised invoice. Simple.

Keep your cash in your pocket and forget about receipts.

No added charges, no hidden extras and no monthly fees.

If you have any other top tips for budgeting on the road, we are very keen to hear them. Get in touch with SNAP on social media and tell us what you think.

Josh Cousens | SNAP.

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