Posted on Nov 04, 2009 - 9:48pm by Kathy Hagle in Business
I have noticed it is hard to make sure that when you run a house as well as run on the roads that all things work in order. This can get crazy, making sure payments are made for the truck as well as the house. If confusion happens bills can be forgotten, late payments stack up, family members end up having to give up to make sure things work out. This adds to the stress of being on the road and away from the home front.
Here is a small glimpse at my filing system and the way things are cared for with all the paper work involved in trucking. First of all make sure you keep all receipts this is where the driver needs to work with the family members at home. There are too many horror stories of the driver just tossing all papers into a sack and hoping for the best. And where an O/O can make serious mistakes that will bite them around tax time. Have a good filing system on the truck, label the tabs on it according to the months. Place all receipts and paperwork into that before anything else is done. And when you get home, the spouse should make sure to take those receipts and papers off the truck on a monthly basis.
I have a file system in which the receipts and the like for the trucking side of things has it’s own place. As well as I have everything listed in order, from the housing papers, to the electric bill. So if you glance into my desk it will be easy for anyone to find the needed paperwork. This will take time, and is something you need to revisit monthly. As if you don’t it can go from neat and orderly into a paper monster. I have found you do not need to keep the monthly bills like the utility bills after they have been paid. But the paper work needed for taxes should have its own file and the past tax forms need to be kept for at least three years since the return was filed depending on your situation (see the IRS website for details about keeping records). As well as important car papers, housing agreements, medical papers and other important papers.
With all the filing systems I have spoken of there is one important thing that is always needed. And that is my main point in this, communication, none of this will work without it. Money in general is the single most stressful subject in a marriage over all. And with trucking it is even higher I would say. As you are not running one household, but in fact are more like running two. If you have the driver just go out without thinking and get the coolest chrome thing for the truck without talking to spouse. That driver could affect a bill that is still waiting to be cleared from the checking account. Also on the other side of the coin, the spouse shouldn’t let the driver eat nothing but hot dogs to make ends meet. I have seen both happen in other marriages.
Have a plan and talk things over as a couple. Know all the bills, when they are due and what are the payments. We have a spreadsheet we keep on both computers we have. This shows both of us when things are due, what money is coming in and how to pay things without pinching us. And weekly when my husband has time we go over the bills. This is where the communication is most important, as it can get stressful but is so needed. Don’t neglect this issue, as it can bite you in the end. But work together in this as then you will have one less stress which you will have to deal with on the road.
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Kathy, great article! Yes, its all about communication. That is the most important part. Money is not worth anything if communication problems makes everything fall apart. The article is very well put. Oh…I also like the way you discussed tracking the incoming and outgoing money.
I enjoyed reading your article on paperwork. Back in the 90′s I drove over the road with my ex-husband, and we were only home about 3 days every couple of months, So we stayed in the basement apartment of one of the O/O. One day he was in a frenzy because he did not have his tax stuff ready, and everything was in a shoe box. I am not kidding when I say it was a mess, luckily I am pretty saavy when it comes to paperwork, so I put it all together in a filing system, did his books, straightened out his settlement for the company we worked for in just enough time for his audit. Needless to say, the word got out, and I had multiple people asking for help. This took me off the road and into the office, and I have been in this industry ever since going on 17 years. Over all these years I wish these guys knew the importance of their paperwork. I went thru each settlement and you would not believe how many double charges I found these O/O’s were charged as well as not being reimbursed, as well as the things they could claim on their taxes, that could save them thousands. Now with my new husband who drives a truck in Alaska I do not have to worry about him, but my father-in-law is an OTR driver and O/O and in just a short time by doing what I have done with his stuff, found numerous errors. Sad to say that some companies may not do this intentionally, but how many drivers catch it, if their paperwork is a mess. They need to have the back up, to justify the cause. Nice post.