Creative ways to finance Flight Training

[Henning]

Well, have you considered sport pilot, versus PPL? That is what I am doing. The wife and I budget X amount of lessons each month and go from there. You could just go for your lessons at a slower pace.

Best,
Matt

The problem with flying less tha 3 times a week is that it typically costs 2-3 times as much in the end. That's like a mortgage. Much more efficient to save up a nest egg and go for it. Also most places have 'block rate' where thay give you $10 or whatever off for depositing $500-$1000 on account. NEVER go more than $1000 into an account, that is the most a reputable FBO/flight school will require for block rate.

 

[IowaMatt]

The problem with flying less tha 3 times a week is that it typically costs 2-3 times as much in the end. That's like a mortgage. Much more efficient to save up a nest egg and go for it. Also most places have 'block rate' where thay give you $10 or whatever off for depositing $500-$1000 on account. NEVER go more than $1000 into an account, that is the most a reputable FBO/flight school will require for block rate.

Unfortunately, that is the almost daily conversation I have with the wife!!

 

[Henning]

Unfortunately, that is the almost daily conversation I have with the wife!!

Patience and discipline or cash, the choice is yours...

 

[Henning]

Unfortunately, that is the almost daily conversation I have with the wife!!

Can you do 3hrs every other week? Might be worth trying concentrating your flying and alternating it with weeks where you use a sim.

 

[IowaMatt]

Can you do 3hrs every other week? Might be worth trying concentrating your flying and alternating it with weeks where you use a sim.

That is more or less what I am doing now. My instructor prefers to be up no more than 1.25 hours at a time.

But you know what? I am just grateful I can fly .

All my best,
Matt

 

[AggieMike88]

I'm working 88+ hours a week in a chem plant 2k miles from home to pay for mine. Of course in 19, single, and wanna eventually fly for a living. But the plan is to bust my hump and rake in the dough for a year or two, pay off my debt, which is only like 7k, which I make in just over a month, then go fly till ppl start paying me to do it.

And if you think of how well compound interest will pay off for you over the next 35-40 yrs of your working life, today's hump busting you're telling us about is gonna pay off really big.

Good on ya for being one of the "weird" ones!

 

[DaleB]

Also most places have 'block rate' where thay give you $10 or whatever off for depositing $500-$1000 on account. NEVER go more than $1000 into an account, that is the most a reputable FBO/flight school will require for block rate.

Yeah, that can be a bad idea. I speak from recent experience. Some places look reputable right up until the time they fold.

 

[flyingron]

Sign up as an "attractive member" on whatsyourprice.com?

 

[Gubbins]

My advice would be to work hard at whatever you do for a living, and to only consider it once you have more than enough funds put aside to be able to do it easily. With five kids, flying cannot be your priority in life. From my experience, it costs more than you think it will cost, and then once you get your PPL you will realize that you don't want to fly with your family without an IR, and so it goes on. Then you're going to want to use your new skills and stay current. It all adds up. I have three kids myself and extrapolating to your situation, it is not going to be easy. I hate to be the realist here, but you're not going to find someone who is going to let you fly for free. You're going to have to be damn good at what you do, and make some decent money then you can pursue your dream.

 

[hopmedic]

Also look up your local EAA chapter and get involved and maybe you will make a connection with a member who is a CFI who can help you fly cheaper.

I'd recommend this as well. I am not yet a pilot, either. I have been a member of EAA in the past, and was able to fly with others on a nearly weekly basis. None of those I flew with were instructors, though.

Recently, I rejoined EAA (I'd let it expire when work transferred me twice in two years), and am involved with a quite active chapter. I have not started looking to drum up an instructor yet, but one guy told me that he is a CFI, but is not current, has not flown in years, but once he gets current, he would be willing to instruct free, just to get the hours. He's about to start building an RV-7, so I'll probably be helping him build his plane.

Look around for a chapter near you, and if the first one you check out doesn't click with you, find the next one. I'm in the one that's second-closest to me. The closest one yielded me zero responses when I attempted to contact them through their web site, and the second one is active enough that last month we flew 70 Young Eagles, and I think over 50 the month before that, and we have a YE event every month, weather permitting. I'm kind of glad the first one didn't answer me.

 

[patmike]

Sell your car and drive a beater!

That's what I did. Sold my 08 Silverado and now driving an 01 S-10 blazer. Got rid of a $738 a month payment

 

[RothLife]

That's what I did. Sold my 08 Silverado and now driving an 01 S-10 blazer. Got rid of a $738 a month payment

I could try that, but I don't think I'll come out ahead selling my Paid Off 85 Buick...

 

[RothLife]

Although, I was browsing through my Flight Training magazine last night and found an ad for this site: http://wingsofhoperaffle.org/

1 in 1500 chance of winning... better odds than the lottery... And it goes to a good cause...

Lottery - Noun - A tax for those who are bad at math...

 

[Legiox]

Yeah, I love how my PP school said min 7,500 bucks to get a PP license. I took out a 7500 loan and gave it all to them. With an extra bonus, they gave me 600 bucks for putting down money of that size. So total amount was 8100. I thought that would be plenty. Well im working on 10k now (about 2k out of my own pocket since i ran out of loan money).

I see light at end of tunnel.... all i have left is written and final checkride. Crap this is bleeding me dry.

 

[Mike Smith]

Yeah, I love how my PP school said min 7,500 bucks to get a PP license. I took out a 7500 loan and gave it all to them. With an extra bonus, they gave me 600 bucks for putting down money of that size. So total amount was 8100. I thought that would be plenty. Well im working on 10k now (about 2k out of my own pocket since i ran out of loan money).

I see light at end of tunnel.... all i have left is written and final checkride. Crap this is bleeding me dry.

It makes you wonder, would it be the same if you had "paid as you go"? I guess I am just a little untrusting....

 

[Legiox]

well avg flight cost is around 170-210 (with instructor). They are trying to get me ready for final checkride and have me fly as much at possible to get accustomed to all the flight maneuvers and T/O Landings. Crap adds up.

I just keep telling myself... ***it will be much cheaper once i have my license*** (everybody chipping in for fuel will be much better..lol)

 

[Foxhole]

well avg flight cost is around 170-210 (with instructor). They are trying to get me ready for final checkride and have me fly as much at possible to get accustomed to all the flight maneuvers and T/O Landings. Crap adds up.

I just keep telling myself... ***it will be much cheaper once i have my license*** (everybody chipping in for fuel will be much better..lol)

Good luck. I found everyone wants to go for a plane ride to see the house or go get lunch until you tell them you need a few bucks for fuel. Then they seem to get very busy and don't have time to go.

 

[Legiox]

Good luck. I found everyone wants to go for a plane ride to see the house or go get lunch until you tell them you need a few bucks for fuel. Then they seem to get very busy and don't have time to go.

Yeah. I will tell everybody before then. Good thing is alot of family members told me they want me to take them up. Already hinted to the fact they will have to chip in for fuel and they are ok with it. Father back home is all on board and is willing to give me some money to help every month just to get some flight hours in.

Maybe one day i can go instrument. Need to sell my body to science for that though..lol

 

[Henning]

Yeah. I will tell everybody before then. Good thing is alot of family members told me they want me to take them up. Already hinted to the fact they will have to chip in for fuel and they are ok with it. Father back home is all on board and is willing to give me some money to help every month just to get some flight hours in.

Maybe one day i can go instrument. Need to sell my body to science for that though..lol

Old ladies pay better than science...