Truck drivers are no stranger when it comes to working– and living– from paycheck to paycheck. While their job is filled with risk and the roads they frequent are lined with hazards, they are one of the most underpaid workaholics on the street. They are also prone to all sorts of ailments and accidents leading to prolonged absences thus, making wage protection insurance Australia in constant demand.
But while a reliable income protection insurance may come handy, learning to manage one’s salary has its perks. One doesn’t have to go scratching their head at the end of the month to see zero or negative balances in their bank accounts. To give you an idea on how to better manage your truck driving wages, the following guidelines can be of help.
Always have a basic financial plan. Ergo, you need to formulate a budget on a monthly basis. Identify the necessities like grocery, electricity, water, gas, and so on. Gather your previous bills so you have an idea on the average expenditures for the month. The idea is to have some savings allotted for any financial upheavals.
Take time to review wages received. While trucking companies may use technology, all data in your payslip are still encoded by the accounting department. Look for any double entry or wrongful deductions or perhaps, bonuses not credited to your account. At the very least, learn the basics of what goes into your payslip.
Never go late paying bills. Some truckies tend to manage their affairs at a later time due to their hectic schedule. This can spell disaster as late payments often come with penalties, which could have been part of your savings. Instead, make good use of online programs or applications. Find a more convenient way to pay your bills without having to go to an actual payment center. This will also help you keep track of your expenses.
Apply for company bonuses and/or incentives. Transport companies particularly big rigs, earthmoving, and long haul businesses offer not just trainings but also monetary reward system. It could be completing a particular cycle with zero accident, perfect attendance, and so on. Employee incentive programs can help fatten up your cash fund.
Have wage protection insurance Australia coverage handy. Truckies are exposed to risks and hazards the moment they step on their accelerator. No matter how careful or experience a truck driver, some private drivers can always put truckies good record in jeopardy due to recklessness. To ensure that one has something to fall back on, having an income protection insurance will guarantee receiving your monthly wages even when you’re out recuperating.
Invest, invest, and invest! Build a sound future for you and your family. Some truckies set aside a small fraction of their wage to go to a pension fund. Others have life insurance for themselves or college funds for their kids. Some truckies also go for tax-saving entities like bonds, stocks or securities. Consult a financial adviser to guide you on this.
Truck drivers know precisely that there is no telling what the future holds. Aside from obtaining a reliable wage protection insurance Australia truckies must very well learn to manage their finances. Learn it on your own or seek out the help of professionals. The idea is to always keep your treasure chest filled and ready for any financial challenges ahead.
Learn how to manage your wage and finances. Obtain a dependable wage protection insurance Australia policy. Call our office number or enquire online to learn more.