How did you...

[johnc21]

finance your training?

Good Evening all

I am curious as to how most people finance thier pilot training if they are in the "normal category of people" and what I mean by this is Mammy and Daddy aren't paying..

I am interested to know how you financed the training if you did not have the above luxury?

I completely understand if people do not wish to post certain particulars in an open forum, so either post here or feel free to PM me in absolute confidentiality however I am interested as I am stretched when it comes to generating ideas for my own training.

I hope this isn't to brazen a question..

Thank you

J

[Mickey Kaye]

Aged 15 - 60 hours a week cleaning aeroplanes
Aged 17 - 80 hours a week fork lift truck driver, baggage handler, cleaning aeroplanes
Aged 19 - 27 grand saved. fATPL issued.

Mind you it was 20 years ago.

[Jazzy78910]

It's worth noting that I have not yet undertaken either my PPL or CPL training, but the required money has been accumulated over the last 5 years of working a 9-to-5 retail job and saving hard.

I am 26 and hope to begin training towards my CPL early next year.

Jazz

[Mickey Kaye]

Best why to do it - say your money then spend it don't get into debt.

I've come across one person who was forced to stop flying just after he gained a fAPTL fortunately he did it the same way as you and had no debt.

I could think of nothing worse then having a 50 grand debt, no job and no aviation future.

[Whirlygig]

http://www.pprune.org/professional-pilot-training-includes-ground-studies/335130-finance-what-would-you-do.html

This question gets asked regularly.

There are four ways of obtaining the cash to pay for ones training; you can be given it, you can borrow it, you can steal it (although that's illegal) or you can save it.

There's no magic solutions or secret schemes and what works for one person may not work for someone else - it depends on their circumstances.

Cheers

Whirls

[Grasscarp]

I worked and paid for the training myself as I went along. I also took advantage of career development loans. When I was much younger I asked my parents if they would remortgage their house to pay for me to do a commercial course. They laughed......

[Kerosine]

When I was much younger I asked my parents if they would remortgage their house to pay for me to do a commercial course. They laughed......

I didn't even bother asking, I don't think they would risk their retirement fund for my training!:}

I obtained a loan through CTC for an integrated course (unsecured!)

[bajadj]

I played...and I am currently playing music, to entertain drunken idiots on a holiday island for 110 days without a night off!!!! and saving every euro cent for flight training!!

I'm sure it will be worth it in the end, but right now it's bloody killing me!

[Shiver me timbers!]

I played...and I am currently playing music, to entertain drunken idiots on a holiday island for 110 days without a night off!!!! and saving every euro cent for flight training!!

I'm sure it will be worth it in the end, but right now it's bloody killing me!


Softly? :O

I'm working full time but have the luxury of living rent free with the parents.

[WISH2FLY]

6am - 8am - Cleaning job

8am - 5pm - Whichever job you can get with current qualifications that pays as well as possible (Office job/IT/Sales/Marketing etc etc)

6pm - Late - Bar job

Live with parents if possible

Sell all worldly posessions including car, virginity, xbox, stamp collection, soul etc etc

Check out latest fixed rate monthly savers/ISAs/high(er) interest current accounts to make your savings go as far as possible

Loan if necessary

3 years later you will be on your way...:ok:

[Bombs Away]

Luckily enough am in a well paid job at the moment so have been quietly saving away. Should have a hundred thousand within the next 12 months and planning to blow the lot.

Life is too short and all that ;)

[david_gannon]

I always thought life was the longest thing you did

[Maude Charlee]

Similar to Grasscarp, I put the proposition to the crumblies to see if they would remortgage their house and loan me the cash. Fortunately they did, and at a very favourable rate which I would never have got from a bank in a million years, I am still paying back my debts 7 years later.

Probably a bit trickier to do it now, as the property market is considerably less healthy presently, and finance considerably more expensive and hard to obtain, but if you (or someone with the foresight to do a deal with you) has the means to do so, you won't find a cheaper source of finance.

Saving is definitely the prefered option if time is on your side, and you have the motivation and patience to wait for as long as it will take to build up the funding.

Don't forget however, that paying for the course is one thing, funding your personal expenses for the duration of your training is quite another. I took a job stacking shelves in a supermarket to keep me in beer and pizza for mine. :}

[corsair]

Not particularly relevant these days but I borrowed from the banks by lying to them about what I wanted it for. Then I stayed living at home, never went out and wore the same clothes all year round. In the end I was rapidly sinking into further debt when I got lucky and solved all the problems by taking voluntary redundancy until I ran out of money again.

Wouldn't recommend it really. :ouch:

[SparksFlyHigh]

As others have suggested but remember:

Dont start a ppl, then spend hundreds on your car, then roll it off the road and not get a penny through insurance. Then keep trying to do the ppl until you inevitably run out of money...all whilst at college AND trying to do 50 hours a week driving forklifts on permanent late shifts. Then quit that job with 2 weeks of college left, go back and beg that they give you all the work for the last 6 months...do it all in 2 weeks but only get average grades, then realise you actually still need a job but then you cant get one because its June and every bastard out of uni/college/school wants a job. Then find a job and spend the first 4 paychecks paying off the car that you wrote off months ago... get all angry and dispondent and post a reply in this thread. :ugh: