Drawing up a Budget

[balhambob]

Am thinking about drawing up a budget showing the costs incurred (excluding living living costs) at the main FTO's in the UK (OAT, Cabair, Stapleford)

I will also be logging EXACTLY what you get for your money and adding in what is not covered in your course fees.

I think it is very confusing at the moment. As a chartered accountant I have had plenty of experiece of this sort of thing.

It may take me a week or so to put together but once this is done I will let you know the result

Cheers

Rob

[potkettleblack]

Good luck sounds like a challenging project, particularly in light of the fact that many FTO's don't exactly proffer up a full list of all of the costs involved. It can be like getting blood from a stone finding out if 170a costs, landing fees, fuel surcharges etc etc etc etc are included or not. Then there is the positioning fees if you don't train at a field which has CAA examiners which can cost a small fortune in a twin. Gee the list can go on.

I see you are leaving out living costs but don't underestimate just how expensive these can be and how diverse depending on whether you head oop narff or down south for your training.

[Wazzoo]

Good idea balhambob (from Balham in London? No matter..just had a brother who lived there for a few years :))

I've kind of tried to do similar things in my own research, just totting up numbers, trying to work out what one FTO offers that another might omit etc. Its not easy to dig out all the little extra costs.

One thing that would be good to include is some calculations on loan payments. For instance, if someone takes out an HSBC loan, whats that going to look like in the long term in overall costs, depending on how much you borrow, repayments and interest rates. And things like CTC where the cost maybe isn't handled in quite the same way, what is the true overall costs involved.

As I say, I've had a rough go just totting up numbers on a spreadsheet but a more accurate investigation into the costs and the long term paying back of the money would be very intersting to read!

:ok:

[sicky]

I agree - loan info is the biggest grey area.

[Supermattt]

Did you have any luck drawing up that cost list BalhamBob?

Cheers
Matt