Most owner-operators know what a load pays. Far fewer know what rate they need just to break even. A monthly budget for your truck answers that question, and it only takes a few numbers.
Step 1: Add Up Your Fixed Costs
Fixed costs are the bills that show up whether the truck moves or not. For example:
Truck payment: $2,200
Insurance: $1,300
Permits, ELD, phone, load boards and software: $1,000
Total fixed costs: $4,500 a month. Use your real numbers; your last three months of bank and card statements will show them.
Step 2: Figure Your Variable Cost Per Mile
Variable costs go up and down with the miles you run. Take your last three months of each cost and divide by the miles you ran in those months. For example:
Fuel: $0.60 a mile
Maintenance and repairs: $0.15 a mile
Tires: $0.04 a mile
Tolls and everything else: $0.06 a mile
Total variable cost: $0.85 a mile.
Step 3: Find Your Break-Even Rate
Estimate the miles you’ll run in a month. Say 10,000.
Variable costs: 10,000 miles × $0.85 = $8,500
Plus fixed costs: $4,500
Total cost for the month: $13,000
$13,000 ÷ 10,000 miles = $1.30 a mile to break even. Any month you average less than that, the truck is costing you money.
Step 4: Pay Yourself in the Budget
Break-even means you worked the month for free. Decide what you need to take home, say $5,000 a month, and add it in:
$13,000 + $5,000 = $18,000
$18,000 ÷ 10,000 miles = $1.80 a mile
That’s your target. Remember to count every mile, empty ones included, when you compare a load against it.
Step 5: Compare Budget to Actual Every Month
A budget only helps if you check it. At the end of each month, put your real numbers next to the budget:
Did fuel cost more per mile than planned?
Did you run fewer miles than you expected?
Did a fixed cost creep up at renewal?
Adjust the budget when something changes for good, like a new truck payment or a different lane. Plan for slow seasons too, so a light month in January doesn’t surprise you.
Want to see your own numbers? Try our free Cost-Per-Mile Calculator. COGS Bookkeeping tracks your actual cost per mile every month, so your budget is built on real numbers instead of guesses. Get a free evaluation.
Common Questions
What should an owner-operator's monthly budget include?
Your fixed costs (truck and trailer payments, insurance, permits, ELD, phone, bookkeeping), your per-mile costs (fuel, maintenance, tires, tolls), the pay you need to take home, and money set aside for taxes and repairs.
How do I figure my break-even rate per mile?
Add up a month of fixed costs and variable costs, then divide by the total miles the truck ran that month. For example, $4,500 fixed plus $8,500 variable is $13,000; over 10,000 miles that is $1.30 a mile just to cover costs.
Should I count deadhead miles in my budget?
Yes. Your costs come from every mile the truck runs, loaded or empty, so divide by total miles. Brokers usually pay on loaded miles, so your rate per loaded mile has to sit above break-even to cover the empty ones.
How often should I update my truck budget?
Compare actual numbers with the budget every month. Rebuild it when something changes for good, such as an insurance renewal, a new truck payment or a lasting change in fuel prices.