Red Roads Fulltiming Family

Fulltiming FAQ's: Finances

1. How do you do your banking?

    We have maintained a relationship with the bank we used for many years while we lived in the house. The folks there already knew us as people, not just numbers, and they understand our new lifestyle. A couple of times we've had to get things done by telephone and they have been quite helpful. They offer the features we need as we travel: on-line banking to monitor our account between paper statements and to make transfers among our accounts if necessary; a debit card that also functions as a credit card from a merchant's perspective; and a willingness to accept mailed deposits to our accounts. 

2. How do you get cash?

    We frequently shop at stores that allow us to get cash when we use our debit card for purchases. Very rarely, we have used ATM machines. Since our debit card has a credit card logo on it, we can also go to a bank and request a cash advance against our account. (We haven't tested this option yet.)

3. How do you pay bills?

    Our monthly bills are taken care of by auto-payment through our debit card. Our yearly bills (dues, insurance, etc.) can be paid on-line or by telephone, using our debit card. 

4. How much does it cost for a family to travel fulltime?

    Expenses for living on the road probably vary as much as expenses for living in a house. While we no longer pay property taxes or have a mortgage payment, the items in our monthly budget are very similar to when we lived in the house. However, there are choices as to which categories get the most money. For example, our "entertainment" category has grown because it now includes attraction admission prices, parking, and a lot more eating out than we used to do. On the other hand, food, clothing, household supplies, and health/beauty aids have stayed about the same.
    Some expenditures can be controlled by our choices. We save money on campground fees by boondocking at the homes of family and friends or in the dessert. We also tend to avoid destination-type campgrounds which charge high fees because they have so many amenities (which we don't use). To cut back on fuel expenses, we stay in one spot for a couple of weeks. If we're using a lot of propane to run the furnaces, we know we need to move to a warmer place.