By Timothy Brady ©2020
You can tell you the quickest, safest route to go from any city to any destination nationwide without missing a highway number, exit number or total miles required.
What if you become as efficient in the business of trucking as you’re at getting loads from point “A” to point “B”? Let’s start by planning your finances the same way we plan the route to pick up and deliver loads.
First, get out the road map, which is your budget. Your budget explains where you are now and what you need to do to reach your financial destination. It’s a lot like that trusty road atlas you always have in your cab.
Picture this: if you have a load going from Putney, Vermont to Jal, New Mexico, you’ve got to make a plan. That plan includes knowing where you are right now, how you’ll get to the loading dock in Putney, and then mapping your route to Jal. You’ll figure distance, time and fuel stops along the way so you don’t come up short on any of these. Putting together a budget is essentially the same process.
Let’s break this into smaller steps.
Know where you are financially by listing what you own and how much money you have. Subtract what you owe to find your net worth.
This is equal to your current location.
List how much money you have coming in each month and how much money you pay out. Now take this information and map out a strategy, which makes sure you won’t spend more than you bring in. This is like deciding how you’ll drive to your loading dock in Putney, by mapping your route.
Finally, add in money for savings, so you can reach your final goal of a new truck, or a vacation, or whatever you’re saving for in your near future. This is like figuring distance, time and fuel stops along the way so you don’t come up short of your destination.
Sure, there are lots of ways to go from Putney to Jal, but only a few reasonable, economical, truck-friendly routes make sense. You plan your trips to be successful. There are lots of ways to handle your money, but only a few are reasonable, economical and put money back for you and your family. You plan your finances to be successful too.