Is It worth It?

[mikeangel]

I've been getting ready to do my taxes and for 3 months my compensation was 8,019.03. I thought that was pretty good until I added up my receipts. 3,739.62 for fuel, 163.51 for hotels, 41.25 for tolls, 291.64 for food, 122.25 atm withdraws, 589.86 for supplies. That comes out to 2779.26. For you vet drivers does that sound good to you? Now granted It won't always be this bad my supplies included my gps and dvd player and my food would be lower If I could just resist those dawg gone country prides. Fuel Is alot better then It was when I first started driving from almost 4.00 gal down to under 2.00 gal. I'm hoping my next quarter goes much better. I will be signing on with a different owner come next month with better fuel mileage that doesn't leak when It rain. Team caffee, cheri. Haven't talked to you guys in awhile hope your all doing alright. God bless each and every one of you on this site.

 

[OntarioVanMan]

I've been getting ready to do my taxes and for 3 months my compensation was 8,019.03. I thought that was pretty good until I added up my receipts. 3,739.62 for fuel, 163.51 for hotels, 41.25 for tolls, 291.64 for food, 122.25 atm withdraws, 589.86 for supplies. That comes out to 2779.26. For you vet drivers does that sound good to you? Now granted It won't always be this bad my supplies included my gps and dvd player and my food would be lower If I could just resist those dawg gone country prides. Fuel Is alot better then It was when I first started driving from almost 4.00 gal down to under 2.00 gal. I'm hoping my next quarter goes much better. I will be signing on with a different owner come next month with better fuel mileage that doesn't leak when It rain. Team caffee, cheri. Haven't talked to you guys in awhile hope your all doing alright. God bless each and every one of you on this site.

At least you are in the plus column....thats more then a lot of others right now...

 

[Moot]

I hope you are taking advantage of all possible tax deductions including per diem.

 

[pjjjjj]

I've been getting ready to do my taxes and for 3 months my compensation was 8,019.03.

Even not considering the net, it sounds horrible to me (8019.03 / 3 = 2673.01 GROSS per month?????????)

Not meaning to be rude, but holy crap.
Don't know what you're driving.. ?
I guess others driving same type of vehicle would be better to ask if that's a reasonable gross revenue per month, but I can't see that being viable no matter what type of vehicle.
But.. I think you've done a stellar job to come out on the plus side at all, considering what you had to work from.
I also notice there is no vehicle payment in there.. imagine if you had a vehicle payment to contend with..
Instead of a new owner, perhaps a new carrier would be in order?

 

[mikeangel]

the unit I was driving at the tim was a 2001 chevy cube van. I got between 11-12 mpg, and yes I kept all me receipts and going to get all I can with my return. Just wondering what carrier would you suggest I go to I'm with panther right now as a solo cargo van driver and always looking for better opportunities any help would be appreciated. thank you all.

 

[Moot]

Was Panther cool with the cube van? What was the GVWR? What was the tare weight?

 

[TeamCaffee]

Well you are in the positive and you bought a few things that you will only buy once but not much left over to pay bills. There is a lot to learn when you first start and that also takes a toll on the money situation.

Now that you have your feet wet only one way to go and that is up!!!

We have been doing pretty good have plenty of projects to keep us busy when sitting so as not to go nuts! Over all though been a typical slow January.

Wish you all the best and keep the bottom line out of the red.

 

[mikeangel]

Yes panther seemed to be cool with It being a cube van. I felt at times I got better loads with it because I could haul a little more then a cargo van because of the height.To answer your question It was 10,000lbs.

 

[mikeangel]

Team caffee, Glad to hear your doing well. My contract with my last owner ended december 20. Right now I'm looking for a new owner. Might be going with this lady I've been talking to from ohio. she has a 1 ton ext cargo van, but It only gets 14 mpg after my last encounter I'm trying to find a unit with the best fuel mileage I can get. I talked to one guy with panther who had a diesel cargo van that got 19 mpg and he said his owner out of Indiana had units available but like an idiot I lost the number. I'm hoping to be back on the road soon. Talk to ya soon.

 

[Scott101]

Even not considering the net, it sounds horrible to me (8019.03 / 3 = 2673.01 GROSS per month?????????)

That's what I was thinking. But now I don't know. Is it 8019.03 each month over the last 3 months? If that is the case the fuel expense doesn't seem right. But if those are 3 month figures then he spent about $3.25 a day for food...

Can you confirm Mikeangel? is it 8 grand a month, or 8 grand for 3 months? Either way, good job keeping the expenses in check. (Unless you are starving to death? ) Looks like you will be doing ok when freight picks up.

 

[mikeangel]

That was what I made from September to December. I'm hoping now since I'm not so green to expediting I will do better to cut my expenses and to make better decisions on what loads to take.

 

[Scott101]

Thanks for the info. I'm sure you will get it dialed it.

How do you eat on 3 dollars a day?

 

[pjjjjj]

That's what I was thinking. But now I don't know. Is it 8019.03 each month over the last 3 months? If that is the case the fuel expense doesn't seem right. But if those are 3 month figures then he spent about $3.25 a day for food...

Can you confirm Mikeangel? is it 8 grand a month, or 8 grand for 3 months? Either way, good job keeping the expenses in check. (Unless you are starving to death? ) Looks like you will be doing ok when freight picks up.

If the 8019.03 is 'each month', as opposed to 'for 3 months', then I would expect the stated expenses to also have been averaged by the month.

He said, "and for 3 months my compensation was 8,019.03"

Would have to figure that's 3 months' worth of compensation, and not the average monthly comp over 3 months.

When you calculate the gross per month, that would still only be 32076.12 per year.. Maybe an ok gig for some, if it weren't for those naggy expenses sapping it all away.

Mike I would sit down with someone at Panther, and bring your numbers, and ask them how you might change things in your biz to see more revenue. Are you turning down loads? Home too much? Get one of those nice Panther OOs to talk to you and give you some tips.

 

[OntarioVanMan]

That was what I made from September to December. I'm hoping now since I'm not so green to expediting I will do better to cut my expenses and to make better decisions on what loads to take.

Welcome...Rule #1 NEVER post numbers...You'll never see a vet post numbers...only statements to the effect "we are a littledown" or "we are running par" I am surprised TeamC didn't tell ya that...*L* These "experts" will slice and dice ya up and you'll be bombarded with opinions till you pass out from dizziness. Most are Straight truck drivers that just don't understand the van world.....

For a newbee your numbers aren't all that bad, considering some fell during the holiday period...BUT that gas guzzler has to go....it's your biggest weakness in your numbers. They don't or won't usually pay a van to move so you'll be DH'ing on your own dime...that hurts with those MPG..

Good Luck Ken aka OVM

 

[mikeangel]

I tried to manage my money good when I was on the road. I shopped at walmart and dollar general alot. when I ran out of food that's when I got in trouble. I was and still am addicted to country pride and a couple times going there really hit the pocket book. In 3 months I turned down maybe 4 loads that might have been a good thing or a bad thing because a majority of my loads were between 2-3 hundred mile loads. I did have a couple of loads that were really nice, but for the most part they were small,a and I really didn't learn the art of wheel'in and deal'in until my contract was almost up then my loads got a little better as far as the fsc went. Right now I know so much more about expediting than I did when I first started and I know there's alot more to learn and I want to thank each and every one of you out there for all your good advice.

 

[OntarioVanMan]

Money management is where its at...if you are going to stay in the biz...get yourself the I-pass or EZ pass....the tolls are 1/2 price with the size of your Tonka truck....*L*

 

[mikeangel]

How would I go about getting an I-pass or EZ-pass? usually I set my gps to avoid tolls and sometimes it even saves me time and mileage, but I'd still like to get one especially for the east coast.

 

[dodgeboy]

I've been getting ready to do my taxes and for 3 months my compensation was 8,019.03. I thought that was pretty good until I added up my receipts. 3,739.62 for fuel, 163.51 for hotels, 41.25 for tolls, 291.64 for food, 122.25 atm withdraws, 589.86 for supplies. That comes out to 2779.26. on this site.

If you are driving for an owner in a cargo van and you do not have any home expenses and you netted the 2779,26 after your food expenses, you're not doing too shabby. I had to give my van up because it needed a few thousand dollars worth of repairs and I still owed 20 grand on it and it was too old to take to a top tier company. I am coing out with an owner this year and hope to save at least 7 to 8 thousand dollars in 9 months after my road expenses. But I will stay out for 9 months and work every single day and I only have a cell phone bill now. I think you are doing fair in your situation. Hang in there and I hope things get better for you.

 

[mikeangel]

If you are driving for an owner in a cargo van and you do not have any home expenses and you netted the 2779,26 after your food expenses, you're not doing too shabby. I had to give my van up because it needed a few thousand dollars worth of repairs and I still owed 20 grand on it and it was too old to take to a top tier company. I am coing out with an owner this year and hope to save at least 7 to 8 thousand dollars in 9 months after my road expenses. But I will stay out for 9 months and work every single day and I only have a cell phone bill now. I think you are doing fair in your situation. Hang in there and I hope things get better for you.

Hey It's good to hear from ya. I do have alot of home expenses that seem to be building up. I really do love expediting I just hope I can start doing better at It. I should of started before I got married and had kids then I could just live on the road because driving Is what I enjoy doing. Hope things work out for the best for both of us.

 

[michaelr1975]

try working for a company that charges you doubble on the fuel and gives you a cap on fuel per day.i spent 15,000 on fuel last year more then i made.for the whole year.good luck everyone and god bless