Starting Funds As New Trucker? -- Based On Quotes Found In Another Thread

Hi folks! I'm new here so I'm unsure how to do proper quotes, especially when it was found in another (unrelated) thread. But anyhow.... the below quote is a comment to a quote (if that makes any sense?! haha!). If anyone would mind elaborating on this topic for the newbies like myself, especially since I pretty much will be starting with *zilch*, that'd be awesome. Please keep in mind I'm not a "student" yet and have zero CDL training, much less am employed by any trucking company (in other words, keep it on the "dumb" beginners' level for this not-even-a-rookie newbie, thanks!)

original quote by: RhondaToo; comment on quote by: Brett Aquila

Now you see why I always tell everybody to save as much $ as possible before you get started, because it doesn't always go smoothly.

AMEN! To anyone considering getting into trucking, you'll want to have $1000-$2000 saved up if at all possible to get through the lean times during training and your initial few weeks on the road. If you get started in trucking with empty pockets, you're going to have a boatload of additional stress all the time. I'm fully aware that it's not always possible to save up some cash - so you gotta do what ya gotta do. But just understand that without any cash in your pockets, things are going to be very, very stressful.

You need to have $$ for your state exam, permit,license,any endorsements. Food $$ while training. If u fail ur state exam you can retake but here in Idaho that's $60 gone and another $60 for 2nd test.

Always have a $$ buffer

Hi folks! I'm new here so I'm unsure how to do proper quotes, especially when it was found in another (unrelated) thread. But anyhow.... the below quote is a comment to a quote (if that makes any sense?! haha!). If anyone would mind elaborating on this topic for the newbies like myself, especially since I pretty much will be starting with *zilch*, that'd be awesome. Please keep in mind I'm not a "student" yet and have zero CDL training, much less am employed by any trucking company (in other words, keep it on the "dumb" beginners' level for this not-even-a-rookie newbie, thanks!)

original quote by: RhondaToo; comment on quote by: Brett Aquila

Now you see why I always tell everybody to save as much $ as possible before you get started, because it doesn't always go smoothly.

AMEN! To anyone considering getting into trucking, you'll want to have $1000-$2000 saved up if at all possible to get through the lean times during training and your initial few weeks on the road. If you get started in trucking with empty pockets, you're going to have a boatload of additional stress all the time. I'm fully aware that it's not always possible to save up some cash - so you gotta do what ya gotta do. But just understand that without any cash in your pockets, things are going to be very, very stressful.

I am new to this also and only know what I have read on this and other sites, so by no means should you think that this is all the info you need, or that it is even correct (verify everything).

Common sense says that there will be costs just to keep living during trucking school. You have to eat. You may need to provide yourself a place to sleep. You may need money for a bus/plane ticket. If you have your own home/apartment you will have the normal monthly expenses from that too. You probably also have a monthly cell phone bill. The main thing here is to just remember that normal expenses will continue during school in most cases.

If you go with a company school, you could talk to someone there about your finances. They may have a program to help you, or provide a cost of living loan that you repay automatically from future paychecks.

Even before you decide on a company, you could talk to recruiters from various companies that do the type of trucking that you would like to start out with and see how they handle things. Some companies may even be willing to pay you a salary to help cover basic living expenses during your training.

If going to an independent school, I believe that most of the schools offer loans to eligible students. If you had been planning to put your own money into tuition, that could help you by freeing up some or all of the money you expected to go to tuition and allow you to keep that money for non-school expenses.

I have not looked much at traditional student loans, but I know that here in Michigan, there are two programs that can help truckers in training. One is called TARFF, which is Tuition Assistance for Rural and Farm Families. It specifically targets people from small rural communities and those who come from agriculture, and lets you borrow for expenses beyond just the cost of school. You need a credit-worthy cosigner for the loan, but repayment doesn't start until six months after finishing school, can be drawn out to 10 years before it has to be fully paid back, and has a minimum monthly repayment of $25.

The other program I know of in Michigan is No Worker Left Behind, which to my knowledge only pays for costs directly associated with schooling (tuition, books, and a few other things). If you were looking at going to an independent school where you would need to find a way to pay tuition, a program like that could help free up money you otherwise would have spent on tuition so you can use it for living expenses.

Those are Michigan specific programs just as examples of types of programs that might be available in your state. Whether you are leaning towards a company school, or an independent school, either one should have someone whose job it is to know the different solutions that are available to you.

*Remember that every company is here to earn money. If they are "giving" you anything, they will be getting it back, either bit-by-bit out of your checks, or by paying you less than you would make if they didn't "give" you anything. No matter who you are dealing with, always look for the fine print and figure out where the money is coming and going so you know how much something will really cost you. Be skeptical and always ask if you think something seems "great" but you can't figure out why it really isn't on your own.

You are better at quoting than I am. I don't think I have done a proper quote yet. If I have, I really didn't. Just like free schooling and free money, my ability to properly quote does not exist. It is just one of the moderators fixing my mess for me quietly behind the scenes because I messed it up so badly that it is unreadable. Thanks mods. :)

Forgot to add, expect the unexpected. Have a little rainy day cash saved up.

What happens if you get partway through school and then get really sick for a while? Do you have enough money to cover your living expenses if you are laid up in a hospital or bedridden at home, delaying your training by days or even weeks?

While the chances may be low, you should want to try and think of as many possible expenses as you can and try to have enough cash-on-hand to deal with a hiccup or two that might come along early on before you have gotten some steady paychecks.

For prime all I needed was $155 in cash. That paid for the permit and administrative fees.

During your training with your permit..you go put on the road with a trainer and you can get advances of $200 per month that is placed on a card you use like an ATM card. Once you get your license they take $25 per week out until paid.

I brought $500 in cash to get back home if I failed. When you pass the behind the wheel you are automatically hired that day and get $700 GROSS per week until you reach 30k miles minimum before going solo.

Along the way there are many possibilities of failure. Most are sent home the first week for physicals..failing drug or criminal tests.. etc.

Holy smokes, I thought it was ADDITIONAL expenses that weren't already common-sense with food, schooling expenses, license fees, blah blah. Like.... "Have minimum of $400 set aside at all times for immediate fine payment to law enforcement" or something!!!!! (Yes, I know I made it up, but I thought it was referencing to things that weren't exactly common knowledge/common sense but learnt from OTR experiences and tips from other truckers).

Since it was actually about administrative/school fees, blah blah, "rainy day" stuff that everyone should have regardless of age and occupation.... I should be alright. Thanks!!!!!

Each companies training is different though. One company might pay you during training one might not. One may allow advances one may not... one may hire you then take payments out of your check to pay for the school. . Ones like prime will not have you pay unless you leave before a year. Other people choose to pay thousands up front for school the can't get hired and need to find a company to train them. It depends on the route you choose. Between sept and feb I only went home twice... which means I had to dealt with paperwork and such before I left and made arrangements. Being on the road with no pay for 3 to six weeks can really affect some people ... my apartment was 1200 per month and they wouldn't break my lease. Wasn't easy

Btw... my mom needed heart surgery during my training. I flew home. To fly from springfield MO one way was $550... from St louis was half price. Trainer was nice enough to drive me.