Advice - don't add it up

I am kind of the opposite. I like to know the details, but not to change them often. For example, my costs are right $500 an hour this year; however, there have been no maintenance issues. I had my first child and only flew 12 hours this year. I am more concerned that I will cause more mechanical problems by not flying this year. Hoping to get back to 75+ hours next year.

My cheapest per hour flying hr year was obviously a year I spent the most total $.

I want to know so I don’t use the family budget too often for the plane. If it was over budget often, I would have to get rid of it or see if it was enough of a priority to increase the budget.
 
Oldmanb777 said:
AHH,,,Thank You. But isn't it short a "0" ?
Click to expand...

At the rate insurance and other costs are rising we might need to make that adjustment one day. :D
 
This advice applies to any hobby that takes money to participate in. I have a stack of receipts in my shop from all my race car projects, motorcycle projects, boat projects and airplane projects from the last 10 years (when I moved to this property). I shudder to think about the number that those receipts would add up to, which I’m sure is well into the six figure range.

Maybe I’ll add everything up at some point, or maybe not. I’m not curious enough to find out how much money I would have saved by doing nothing.
 
mondtster said:
This advice applies to any hobby that takes money to participate in. I have a stack of receipts in my shop from all my race car projects, motorcycle projects, boat projects and airplane projects from the last 10 years (when I moved to this property). I shudder to think about the number that those receipts would add up to, which I’m sure is well into the six figure range.

Maybe I’ll add everything up at some point, or maybe not. I’m not curious enough to find out how much money I would have saved by doing nothing.
Click to expand...
From the Joke thread:

[QUOTE="Kansas Flyer, post: 2684375, member: 33454"Male Logic

Wife : Do you drink beer?
Husband : Yes

Wife : How many beers a day?
Husband : Usually about three

Wife : How much do you pay per beer?
Husband : $5.00 which includes a tip

Wife : And how long have you been drinking?
Husband : About 20 years, I suppose

Wife : So a beer costs $5 and you have three beers a day which puts your spending each month at $450. In one year, it would be approximately $5400 - correct?
Husband : Correct

Wife : If in 1 year you spend $5400, not accounting for inflation, the past 20 years puts your spending at $108,000 correct?
Husband : Correct

Wife : Do you know that if you didn’t drink so much beer, that money could have been put in a step-up interest savings account and after accounting for compound interest for the past 20 years, you could have now bought an airplane?

Husband: Do you drink beer?
Wife : No.
Husband : Where is your airplane?[/QUOTE[/QUOTE]
 
Shepherd said:
I think the old adage "If you have to ask the price, you probably can't afford it." was coined with aviation in mind.
Click to expand...

Yeah, if it doesn't have the price I don't call either...but for the reason you mentioned. lol.
 
Last edited:
Man....You guys are depressing..............I'm not going to show my wife this thread............She already doesn't like my toys. Getting back into a plane, well she already voiced her opinion on that. But its "totally" up to me. I hate renting. Have not done that in years. Always had access to some really nice planes, buy my own fuel. they were people I helped manage their plane. I would sometimes retrieve their plane when they had to leave it someplace. I did the maintenance, maybe did their flt review etc. Often i couldn't afford the gas, so didn't make use of them much. So now, I have absolutely no need for an airplane. Not sure how much I would use one. I traveled for a living, so traveling is not something I really want to do much of. But I'm missing not being in the air. I can now afford the cost of a pretty nice plane, if I want one. Prices are ridiculous! Buying it is the easy part. Keeping up with it, and all the rest is the hard part. I know, good problem to have. The costs that I see reported give me a bit of a pause. Even as an A&P.
 
I had a spread sheet when I had my first airplane,a172. When I didn’t like the figures ,I gave up tracking expenses now on my fourth airplane.I'm happy when flying how much is that worth?
 
I've said it before and I'll say it again. Aviation has to be the only hobby that we feel the need to track and justify the expense. Yeah its expensive, but so is boating, shooting, off-roading, you name it. I've yet to see a boat owner try to calculate the cost per mile or hour of operating their bass boat or pontoon, or try to justify taking their boat out instead of driving somewhere.
 
If I had to rent and pay overnight fees/daily charges, I'd be looking at $12k+ in fees.
 
Over the past 10 years......average 10k expenses and 100 hrs. ~$100/hr
(Owner assist maint)
 
Ghery said:
Or boats.
Click to expand...

My closest friend is really into boats. I bet he's easily $4M into it when you take his 3 boats (all over 40'), His lake house, private dock, etc. So in comparison my aviation hobby is cheap!
 
When I had a partner I tracked expenses so we could pay our fair share. Now By myself, not so much. it has it's own account for mx, and insurance. Everything else is out of pocket. I don't track it, don't want to track it, and don't care (much).
 
OkieAviator said:
My closest friend is really into boats. I bet he's easily $4M into it when you take his 3 boats (all over 40'), His lake house, private dock, etc. So in comparison my aviation hobby is cheap!
Click to expand...

Or alternately, you're just flying the wrong airplanes. You should trade up.
 
Tantalum said:
Spend it while you can and have the time and health and ability to do so.. I'd rather turn those dollars into awesome memories and experience than just watch it sit in a bank account
Click to expand...
That's exactly what I told my FA when he tried to talk my out of buying my plane. What good is money when you are too old to spend it? Life is short, enjoy it while you can!
 
I’ve never really thought of flying as a “hobby”, any more than I think driving is. I guess that makes it easier to not worry about the cost. The other thing that helps is that the VALUE of flying is very meaningful - if I wanted to I suppose I could do the math - I have a “billable rate”, and when using the plane for work I do have to think of the costs, but really I just don’t dwell on it much. We’ve never planned a trip and thought “well it’s x cheaper to drive” - sure it is, only if you place no value on time, or convenience.
 
Aviation expenses get their own line item in our household budget. It’s been underfunded and under budget but I hope to grow in 2021 and esp once I become an owner. It also includes things like my instrument rating and Cirrus school.

I agree with the rental comment. It would be a fantastic model if there existed a larger supply or variety. My local place doesn’t have anything in between an SR22TN and a 421C. It’s that middle ground where I suspect I’ll eventually end up at so.


JOhnH said:
Wife : So a beer costs $5 and you have three beers a day which puts your spending each month at $450. In one year, it would be approximately $5400 - correct?
Husband : Correct
Click to expand...
I have the misfortune of brewing at home, so I can’t use this in my defense ;)
 
You must log in or register to reply here.
Back
Top