An Idea For A Plan
 

Hi

I have been looking around various flight training organisations and have come to the conclusion that, once i have my PPL, the rest of my flight training will cost around £25,000. Now thats taking into account for ATPL ground exams full time, CPL inc ME, IR and MCC. (i will have an extra £10k saved up before getting this loan)

The repayments on the loan would be easily affordable (£450/month) (i live with the olds and have no other outgoings luckily) and also i dont have to commence payments for 9 months after my training has finished (which gives me time to earn more backup cash in case of unforseen problems).

Once all my training is done i intend to get an FI rating and working as an FI to build my hrs up. Im well aware that i may be trying for a long time before a get a job with a pax/cargo airline.

Now i was wondering what all you knowledgable folks think of this plan? :O I would apprectiate constructive criticism rather than a slanging match.

Thanks in advance

Dave :uhoh: :ok:

Aerofoil,

What time scale are you working to here? Nothing wrong with your plan provided you can achieve your projected earnings and SAVINGS you mention! It took me five years to save for my ppl (between the ages of 12 - 17), but after that my account has always held a negative balance!

"The repayments on the loan would be easily affordable (£450/month). I live with the olds and have no other outgoings luckily".

I take it you have not yet discovered pubs, cars. etc! :D

As i understand it, instructors are poorly paid, so after paying your £450 repayment i doubt you'll be left with much change. Think about it. Think hard. Think about paying for your revalidations, medicals, petrol/fare to the airfield, your lunch, your odd beer in the evening, Your famiy's Xmas presents! Its not impossible, but be prudent and think about it.

Oh, and £25k+cost of PPL (£30k total) is fair enough. What about £6k for instructors rating. What about the inevitable type rating be it a Shed or 737? Another £10-23k?? Be prepared to spend some SERIOUS money. I'm not discouraging you, merely warning you. But hey, it isn't stoping me, so if you want it you go for it!

Thanks for your input guys.
I was expecting to get a load of verbal.

What you have said sounds like good advice and il take it into consideration when making my decision.

:D Yes i have discovered cars etc but iv had my car fling and sold it off to get some extra dosh. I bought a cheap car instead!
I just try and stay away from things that will end up costing me a lot of money (those unnessesary thing i mean)

Thanks again and if anyone else has anymore input please feel free!

Cheers
Dave :ok: