Avoid Delays and Secure Your Pre approved Finance Today
At AGM Finance, we have always been proud to provide finance approvals to you in the fastest possible time.
Our highly skilled team can quickly determine the right type of finance for each client, and work with them every step of the way to quickly and easily assemble your application.
Highest Success Rate
This means we can turn around your application quickly and have a 98% success rate because we only submit finance applications we are confident will be approved.
This year has been a time of big and small changes for everyone across the world, and the finance sector has not been immune to changes.
Because of variations to the way lenders are managing their workforce, workload and internal processes, all lenders now have significantly longer approval wait-times.
Finance Experts in Australia
Our finance experts at AGM will still be able to process your application as quickly as before, but the application assessment process at banks and lenders has increased from one day to five business days.
This means it could take one to one-and-a-half weeks for our clients to purchase a truck, heavy vehicle or equipment for your business.
In light of these changes, we are encouraging any of our clients who are considering purchases, to arrange their finance pre-approval now.
Your approval will be valid for up to three months and will make your purchasing process faster when it comes time to make the sale.
We still have access to over 40 different lenders across the country, and will still work to secure you the best rate as quickly as possible, keeping you informed and updated every step of the way.
If you are thinking of making any major purchase in the next few months, contact one of our team members today to arrange your pre-approval on, 1300 664 687.
Truck Driving Safety
In 2019, the National Transport Insurance company found that the number of truck driver fatalities more than doubled in 2019 when compared to any year over the past decade.
The same report also found cars were responsible for about 80 per cent of deadly multi-vehicle crashes involving trucks, though, truck drivers were less likely to be killed in these scenarios.
And young drivers (18-25 years old) were four times more likely to be involved in serious or fatal crashes.
Considering that trucks transport about 75 per cent of Australia’s domestic freight, and that figure is expected to double by 2030 (meaning, more trucks will be on our roads), Australians need a two-sided educational approach to truck safety.
One that encompasses how to share the road with trucks safely and how truck drivers can minimise the associated risks of their job.
How Drivers Can Safely Share the Road With Trucks
There are several things car drivers can do to prevent accidents when sharing the road with heavy vehicles.
Be aware of truck blind spots
On average, trucks have four blind spots. These are directly in front of the truck, beside the truck driver’s door, on the passenger side (this one runs the entire length of the truck and extends out three lanes!), and 10 metres behind the truck.
Keep your distance and give plenty of notice
Trucks are heavy, which means they are slower to stop than a car. Considering it will take longer for a truck to stop, and they have multiple blind spots, keeping your distance and giving plenty of notice for turns and stops is vital.
Lane changes can be dangerous
Avoid unnecessary lane changes and stick to your side of the road, away from heavy vehicles, for the simple reason that trucks cannot easily get out of your way. Likewise, when a truck needs to change lanes, give the vehicle plenty of space.
Don’t be a distracted driver
Mobile phones, food packaging, stereo systems and fatigue can all contribute to potentially fatal accidents. Avoid distractions by keeping your mobile phone in the boot, pre-tuning your radio, setting your playlist in advance or pulling over for snacks. Regular stops where you stretch your body, walk or jog will also prevent fatigue and cramped muscles.
How Truck Drivers Can Mitigate Risk
No person should ever go to work and not return home, but unfortunately, that’s not the reality.
Accidents happen, and according to a 12-year study by Monash University, being an Australian truck drive puts you at 13 times more risk of dying at work than other Australian workers.
Truck driving is one of Australia’s most dangerous jobs.
While the logistics industry continues to advance digital technology aimed at improving driver safety, here’s what you can do right now to minimise your risk of accidents.
Always drive to the speed limit
Every job has deadlines, and part of a truck drivers job is to get to your destination on time. But no one is going to benefit from an accident, so please, follow the speed limits and adjust your driving speed to suit the conditions.
Avoid driving fatigued
Get plenty of sleep whenever possible, and follow the industry regulations about how many hours you can drive without breaking.
If you need to break more frequently: do so. A tired driver is a dangerous driver.
Regular exercise, plenty of water, and light, healthy snacks instead of heavy meals can also improve driver energy levels (see our previous blog here).
Stay focused
Whether you’re driving a bike, car or truck, drivers need to avoid distractions like mobile phones and radios.
Know what you are transporting
For truck drivers who are contracted to various clients and transport a range of materials, it’s important always to check what exactly you are transporting before you start driving.
This way, you can adjust your driving to suit your cargo, particularly if you are transporting hazardous goods.
You should also know the weight, height or length of your cargo to ensure the load is correctly distributed.
Contact us at AGM Finance for more information or to get started on a truck loan that words for you.
Better Bookkeeping for a New Year
It’s a new financial year which means it’s also time to adopt some better bookkeeping habits.
By starting the year out with new routines, you can keep your business on track and prep for the next tax-time.
Here are seven tips for keeping your business on track.
1.Create a business bank account
If you haven’t already established a separate bank account for your business, you need to do it pronto!
Keeping your personal and business expenses separate will make bookkeeping much easier when it’s time to tally up expenses.
Should you need to use business money to pay your salary or for other personal expenses, set up a regular direct debit to transfer money into your personal account.
That way you won’t have to trawl through lots of small transfers to balance the books.
While you’re at it, you might want to apply for a business credit card.
2. Keep on track of your invoices
Customers want to be invoiced promptly. Late invoicing looks unprofessional and it’s also problematic for your cashflow.
To keep your invoicing efficient, switch to a digital invoicing system.
There’s no shortage of competition in the world of digital bookkeeping, and each program offers slightly different services for different rates.
Check a comparison chart of several software applications to gain a better understanding of their differences, or ask your accountant for tips on what software would suit your unique business needs.
As a bonus, most bookkeeping programs will also allow for wage payments to employees and have an app that lets you upload receipts while on the go.
Some will even offer time-keeping services for client billing and also allow your employees to clock on and off using an app, simplifying wage payments.
Once you switch over to an automated system, you’ll wonder why it took you so long.
3. File everything!
Paperwork can become chaotic if not kept up to date. Try to establish good habits by filing your receipts and invoices as soon as you get them.
A portable filing box is a cheap and accessible solution as long as you keep up to date with it.
Avoiding dumping all paperwork into one pile that only gets sorted a few times a year, as it transforms a quick job into a mammoth effort.
Better still, ditch paper records that legally need to be kept for years, and opt for a digital storage solution.\
Digital copies can be uploaded to a cloud storage system, and this is particularly easy if you’ve already switched to digital invoicing/bookkeeping software.
If you don’t have use digital bookkeeping software, try the ATO’s mobile app to update your records while on the go.
4. Keep track of cash
Cash isn’t common currency these days, but for some businesses, cash payments will still creep in.
If you receive cash payments for any of your goods or services, try to bank it as soon as possible.
Depositing the money will avoid any confusion over unpaid invoices with customers, and also help you to track your expenses accurately.
The temptation will otherwise be to use the cash for business expenses, without adequately documenting the transactions.
5. Recognise when you need professional bookkeeping help
There comes a time for every business when it’s simply not worth the time or effort to do your bookkeeping yourself.
By engaging a professional bookkeeper, you can ensure invoices are paid on time, staff salaries are managed, budgets are adhered to and tax time is prepped well in advance.
All without having to sacrifice your own time.
6. Periodically assess your finances
Taking time to stop and look over your business finances periodically is important.
Many people will choose to do this review quarterly, while others might prefer a little more regularity with bi-monthly reviews.
By reviewing the last few months, you might be able to identify trends that can help save you money in the long-run.
7. Talk to your finance broker
Checking in with your finance broker once or twice a year, can save you thousands.
You might be able to consolidate loans, negotiate better rates or access credit to expand your business.
To received tailored finance solutions for your unique business circumstances, contact our team of finance specialists today.
Call 1300 664 687 or email: website@agmfinance.com.au
7 Ways to Stay Healthy While on the Road
It isn’t easy for truck drivers to take good care of their health while on the road.
A 12-year study into the health and wellbeing of Australia’s truck drivers revealed it to be one of the most dangerous occupations in the country.
And not just due to the risk of crashes.
Long hours, shift work patterns, social isolation, lack of physical movement and poor nutrition are amongst the most common physical and psychological stresses impacting truckies.
Thankfully, there are some simple ways to stay healthy while on the road.
Here are our top seven tips
- Prioritise sleep
To maintain good health and minimise the risk of injury, truck drivers need to get at least seven hours of sleep in a dark and quiet place. Easier said than done some times, but an eye mask and earplugs could help when used with our next six tips. - Start the day with a healthy breakfast.
Breakfast is an opportunity to kick start your metabolism and set your body up for the day. Studies have shown that people who eat breakfast tend to have better diets, so it’s a good habit to make part of your daily routine.
Take the time to have a healthy meal that’s low in sugar, but high in protein and fibre. Perfect examples are:
porridge topped with fruit and nuts;fresh fruit and yoghurt with muesli;low-sugar protein bars;eggs and wholemeal toast;
an omelette;
smoothies made with fruit, vegetables (such as baby spinach) oats, protein powder or nut butter.
- Choose nutritious snacks
Eating heavy meals can leave you feeling sluggish and tired, as your body works hard digesting them.To stay alert and keep your metabolism revved, snack on healthy foods throughout the day. You’ll also avoid overeating at mealtimes because you’ll never get ravenous.Healthy snack ideas include:raw nuts (salted nuts are high in sodium);dried fruit;
boiled eggs;
jerky;
protein bars;
hummus and vegetable sticks;
low-sugar or greek yoghurt;
a thermos of soup (ideally one with plenty of vegetables).
- Take breaks and move your body
Whenever necessary and safe to do so, take short breaks. Use them as an opportunity to stretch your legs, have a snack and move your body. To get your circulation moving, try touching your toes, rolling your back and neck, stretching out your arms, shaking your limbs or even doing some star jumps. The movement will energise you, burn calories, reduce the build-up of toxins in your body
and contribute to better sleep. - Stay hydrated
Our bodies are 60% water, and that water plays an essential role in flushing out toxins, cushioning joints, carrying nutrients and assisting digestion. Without adequate water, we can’t function to the best of our best abilities.To avoid dehydration, keep a large bottle of water by your side while driving. Sip on in throughout the day, instead of drinking only when thirsty. By the time your body craves water, you are already dehydrated. As a general guide, aim to drink two litres of water a day. - Avoid stimulants
Energy drinks and coffee will dehydrate you, impact your sleep and take their toll on your overall health. They’re also a dangerous substitute for rest.If possible, avoid drinking them entirely, or at the very least, minimise your consumption. - Try to maintain a healthy weight
Maintaining a healthy weight while driving trucks is tough. There aren’t the same opportunities for healthy eating and physical movement that other occupations enjoy. Information is power, so talk to your GP to understand what your ideal body weight should be, then make a plan to lose or maintain your weight.
By packing food from home, instead of relying on fast food, it will be easier to maintain or achieve your weight goals. Also ensure you get plenty of vegetables each day, and two pieces of fresh fruit.
A brisk walk at the end of your day will also contribute to weight loss, metabolic health and better sleep.