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How To Support Yourself Financially As A Self-Employed Truck Driver

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Truck driving can be a very rewarding career. Aside from the potential to earn a decent salary, the opportunity to take control of your situation is highly attractive. If you are self-employed in this field, though, it is essential that you take care of your finances.

Keeping your finances on track is easy when things are going right. However, your business journey is likely to hit some bumps along the road. Here’s how you can stop them from slamming the brakes on your progress.

Understand Your Rights As A Truck Driver

Many self-employed truck drivers essentially work for a single client. Unfortunately, it is very easy for businesses to overlook the needs of their drivers. After all, they are out of sight and out of mind. Therefore, it is your responsibility to understand Truck Driver Rights. 

If a business violates any of those rights, you should seek compensation. A truck driver injury lawyer is the best option as they can represent you to the full extent of the law. Whether it’s the rate of pay or hours of service, you should not accept mistreatment. Likewise, if an accident was caused by a company’s failure to provide safe vehicles, you deserve help.

Consider Your Business Set-Up

As a truck driver, your overall financial health will be influenced by many factors. From ensuring that you pay the right tax to claiming back expenses from your time on the road, these issues have a huge impact. So, setting yourself up as the right type of business entity is key.

Paying tax as a sole trader could be holding you back, which is why setting up a company could be your best bet. Not least because it opens the door to taking on other drivers and growing a genuine business. Whichever route you take in business, hiring a bookkeeper or accountant for advice and financial record keeping is key. It seems like an expense, but will save you a fortune.

Protect Your Vehicle

As a self-employed truck driver or small business owner, you shouldn’t only negotiate the best pay for your services. You also need to take care of various expenses, not least in relation to your vehicle. Getting a truck lease is ideal. Buying could be a bad move due to depreciation. 

Following this, though, you also need to put insurance in place. Likewise, if your truck holds valuable goods, you need the right security. Overnight storage is a key feature. Sometimes, though, you’ll be on the road. So, durable padlocks, alarms, and GPS tracking are all key. It should prevent most problems. But if the worst happens, you can restore normality far sooner. 

Take Care Of Your Health

Finally, the harsh reality is that you won’t be able to work if you’re in no fit state to get behind the wheel. Therefore, you must learn to prioritize your health. Getting enough sleep and avoiding drowsy driving should be top of the agenda. It’s as vital as not committing a DUI.

You also need to get your eyes regularly checked as driving with poor vision will put your safety at risk. As far as ongoing health is concerned, you must find ways to incorporate steps into your day to compensate for the hours of sitting. While processed gas station foods are convenient, addressing your nutrition is vital too. Otherwise, you’ll spend a fortune on medications later on.

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