Financial question for student pilot

Similar to the “where are you training” question: what kind of airport, towered or pilot controlled?

I train at a very busy Class Delta (ie towered) airport in Atlanta. I flew my solo cross country yesterday and from start up to take off took almost 40 minutes due to traffic volume at the airport, and then I left on my 2 hour round trip. The Hobbs meter was clicking the whole time I was sitting in the conga line waiting my turn to take off. My cross country was to a small, quiet, pilot controlled airport in TN. Leaving there to come back home most definitely didn’t involve just sitting on the ground waiting my turn to take off for 40 minutes.

Point is this - if you’re training at a busy airport you’ll burn plenty of money just sitting on the ground. Yesterday’s departure delay was long but not unheard of for my home airport. It’s another reason people are telling you that a check ride in 40 hours is unlikely.

I started flight training 18 years ago when I was a 16 year old cashier at Target. I made $7.15 an hour and saved like hell to pay for one hour in a Cessna 150. Fast forward to now and things are different. The wait sucked but the fire doesn’t go out. The people telling you to save $10k are giving you good advice - flying is expensive. I’ve probably spent $2k in January alone. If flying is really in your blood (and it must be to save $5k as a high schooler - good for you!!), waiting until your finances catch up with your dreams will not be that much of a set back over long term. Keep at it.
 
@bmacadoozle - I'll try a wrinkle for you. You seem to have estimated $200/hr for Dual flight time. That seems reasonable. That roughly matches your stated weekly earnings. So, you can pay as you go with little draw down of your $5k cushion. Therefore, were I in your shoes (aka ~40 years younger) I would proceed like this:

Get the medical out of the $5k and work until that is back in the bank. (maybe 2 weeks?)
Ignore the fancy headset advice, get a pair of good ole trusty DC's (cost 1 or 2 weeks of work. Better still, bum around at the airport and see if some old coot will give you an old set that's collecting dust in his hangar)
Ignore the iPad advice. (Put it on the birthday gift list)
Let your parents, grandparents, romance partners, and everyone else who may be inclined to give you gifts know that you'd like a nice hand written note and some money towards this goal.

Realistically you'll do the first 20 hours dual. If you're frugal you can solo and still have $4k in the bank.

Then you'll be doing some solo work. Now buy the renters insurance. You shouldn't need that for dual, but you'll want it when your soloing.

Only use your banked money if/when you must. You'll want about $2k when you get to the finishing stage, which is mock check rides, lots of solo time, and the "Final Payment" of ~$500 for the DPE.

Having saved your buffer fund is an achievement. If you treat it as a rainy day fund and burn as you earn you could come out the other end with money left in the bank.

Take it slow, you're first medical is good for 5 years. Your student pilot certificate never expires.

What's the worst thing that can happen? You're a student till your 19 or 20? Oh well, you'll still be 25 years ahead of many of us old coots that waited until the money wasn't a consideration.
 
As several others have said, if you come prepared for each lesson it will make the process go faster and save you money. I teach at OZW (Aira Aviation) and I only charge for flight time, not the time before / after the engine starts. If you book a 2 hr block, some schools will charge the CFI time for the full 2 hrs. If we fly 1.5, you are charged 1.5 both airplane and CFI. You also want to make sure the school you picks allows touch n goes....there is at least one school in this area that will not allow them and that doubles the time it will take to get landings figured out in the pre solo phase. Have fun!!
 
I put $10,000 cash in the safe before I started my training, I backed that with another $5,000 in a savings account just in case. Number one reason people fail to complete their PPL is running out of money, leading to loss of proficiency, leading to extra hours and expense to regain proficiency, only to run out of money even sooner. I wanted to make sure that money wasn't the factor that would cause me not to complete my PPL.

At this time I'm roughly halfway through and I have spent $4,194. Of that amount I have only raided the safe for $2,000 so far by paying out of my pocket through working overtime... Its all on me, can't blame the money if I fail.
 
Ravioli said:
@bmacadoozle - I'll try a wrinkle for you. You seem to have estimated $200/hr for Dual flight time. That seems reasonable. That roughly matches your stated weekly earnings. So, you can pay as you go with little draw down of your $5k cushion. Therefore, were I in your shoes (aka ~40 years younger) I would proceed like this:

Get the medical out of the $5k and work until that is back in the bank. (maybe 2 weeks?)
Ignore the fancy headset advice, get a pair of good ole trusty DC's (cost 1 or 2 weeks of work. Better still, bum around at the airport and see if some old coot will give you an old set that's collecting dust in his hangar)
Ignore the iPad advice. (Put it on the birthday gift list)
Let your parents, grandparents, romance partners, and everyone else who may be inclined to give you gifts know that you'd like a nice hand written note and some money towards this goal.

Realistically you'll do the first 20 hours dual. If you're frugal you can solo and still have $4k in the bank.

Then you'll be doing some solo work. Now buy the renters insurance. You shouldn't need that for dual, but you'll want it when your soloing.

Only use your banked money if/when you must. You'll want about $2k when you get to the finishing stage, which is mock check rides, lots of solo time, and the "Final Payment" of ~$500 for the DPE.

Having saved your buffer fund is an achievement. If you treat it as a rainy day fund and burn as you earn you could come out the other end with money left in the bank.

Take it slow, you're first medical is good for 5 years. Your student pilot certificate never expires.

What's the worst thing that can happen? You're a student till your 19 or 20? Oh well, you'll still be 25 years ahead of many of us old coots that waited until the money wasn't a consideration.
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Thank you, this was really helpful, I definitely will follow this approach of using my paycheck when I can and the savings when I have to. My flight school requires renters for anything more than a discovery flight which is no big deal, only like $30 a month
 
Half Fast said:
Because insurance companies frequently factor age into their rates. Ever try to buy car insurance for a 16 year old son?
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Luckily I don't need car insurance right now but yeah its $300 a month in michigan at least, already was quoted $315 for $50,000 bodily per person, $500,000 Property, $500,000 per accident with $15,000 on the plane (flight school only requires ten but its only a few bucks more). I may have a higher rate than someone say 35 but with no way to find out i'm fine with a $26 monthly payment
 
I started with $0 allocated to training, so you're already ahead of me. :)

I didn't read every word of the thread, so I may of missed things, but it doesn't seem like you're in a hurry. Fly as much as you can and enjoy it, the certification will come when it comes. For a lot of us, it's about the journey, not the destination. If it takes you longer because you're not flying 6.7532 hours per week minimum, who cares?
 
bmacadoozle said:
Is this sufficient to start with?
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..in a nutshell "no" .. but like Salty I started when I was 14 and had $200 saved from mowing yards and rode my bike to the airport without telling my parents and took an intro flight a one or two lessons with that $200

Matthew said:
$10k is a good estimate. But expect it to be higher and budget a cushion
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Yes! If you realistically assume 70 hrs to get your license then that's $14K right there.. with nothing allocated to anything else. It's certainly not a cheap hoppy

Salty said:
Fly as much as you can and enjoy it
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YES! It took me *years* to get my PPL but I wouldn't do it differently
 
Half Fast said:
Because insurance companies frequently factor age into their rates. Ever try to buy car insurance for a 16 year old son?
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Sorry, I thought we were talking about flight training, not car insurance. The FAA sets the minimum age. 16 year olds learn to fly all the time.
 
dmspilot said:
Sorry, I thought we were talking about flight training, not car insurance. The FAA sets the minimum age. 16 year olds learn to fly all the time.
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We were talking about renter's insurance for a student pilot as one of the costs for the OP to learn to fly. I'm very aware of FAA's minimum age. In most states 16 is also the minimum age for a driver's license, but a 16-year-old can't rent a car and the insurance is outrageous.
 
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I do not see a line item in your budget for beer.
 
I guess I missed the part about being underage.
 
Ravioli said:
Hey @bmacadoozle - If you take this particular advice, remember to post anonymously to the "Medical Topics" about how to keep your medical after the "Minor in possession" charge. :)
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I wish I had more people to send me this quality humor, really made me laugh thanks man
 
Sounds like you have put a considerable amount of thought into this. A few extra ideas. Make sure you have money in the bank towards the end. That is when you do not want to be running low. If necessary slow things down prior to that to ensure you have the cash to make extra flights as needed and potentially cover a busted checkride which will be even more. You absolutely want that reservoir available.

It is possible to go a bit slower and still be successful. I took 2-3 years to get my ppl. Sometimes a month or more between flights. But, I studied my butt off during those times on the ground. I set up my PC with MSFX and practiced procedures and routines. I plugged in an audio recorder to my headset and recorded every flight with my cfi. Then I went home and re-flew those lessons on the sim while listening to the audio. After a bit of a break he always commented that it was as if I just flew last week.

Have fun with it. Getting that ticket is an amazing experience.
 
Definitely gonna study a lot and do a lesson a week, i know it’s doable if I work hard. how did you record the audio, intrigued by that as it might be a great resource for reviewing once I get home
 
Howdy @bmacadoozle . I am currently going through flight training in AZ, albeit at a much older age than you. You have a great plan and a great outlook on your goals. You are to be commended on saving the $5k during high school. That is a feat in itself. Money will be tight, for sure, but you have a great start and a means to keep going, so dive right in. Do you plan on making aviation a career, or staying with hobby flights?

Being in high school does put you at an advantage. There are plenty of scholarships available. It would be worth a look to see if any may apply to you.

https://www.faa.gov/education/grants_and_scholarships/aviation/


If you are planning on making it a career, having a PPL by the time you get to college puts you ahead of everyone else. There are lots of great aviation degrees out there, with many flying positions, and many non-flying positions available. Aviation is a great career choice, if that's your desire.

I got the King School's course rather than Sporty's, only because that's what my instructor used and said he liked it. From what I hear from others, Sporty's is also a great online resource and you will be fine with them. There is lots of reading material available to you, and most of it is free. I have spent more time in the Pilot's Handbook of Aeronautical Knowledge than any other book. Nearly all of the ground written (computer) test questions will come directly from that book. It is free to download from the FAA, or you can order a copy from Amazon for around $20. A 2021 copy of the FAR/AIM will also be very important. Again, it's free to download from the FAA, although a bit confusing as you download each section. But it is also available on Amazon or at your local airport's FBO. I would highly suggest getting a copy of both of those books to read, highlight, and take notes.

In the end, yes, flying is expensive to start. But you have already demonstrated your commitment to saving and working to make it happen. You can do this. Don't listen to anyone who would tell you otherwise.
 
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aterry1067 said:
HI have spent more time in the Pilot's Handbook of Aeronautical Knowledge than any other book. Nearly all of the ground written (computer) test questions will come directly from that book. It is free to download from the FAA, or you can order a copy from Amazon for around $20. A 2021 copy of the FAR/AIM will also be very important. Again, it's free to download from the FAA, although a bit confusing as you download each section. But it is also available on Amazon or at your local airport's FBO. I would highly suggest getting a copy of both of those books to read, highlight, and take notes.
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Good suggestions, just be careful before buying some of the manuals found on Amazon. Definitely read the reviews first because some of the "books" available on Amazon are glorified photocopies (sometimes in black and white in poor quality), which is likely not what a student pilot is looking for (there are some full color graphics that are hard to decipher in black and white).
 
gearFX said:
Good suggestions, just be careful before buying some of the manuals found on Amazon. Definitely read the reviews first because some of the "books" available on Amazon are glorified photocopies (sometimes in black and white in poor quality), which is likely not what a student pilot is looking for (there are some full color graphics that are hard to decipher in black and white).
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Agreed. I forgot about that. I remember some of the reviews stating as such. May be better to just pick them up from a nearby FBO.
Thanks.


Edit: Or even better, just pick them up from Sporty's, as they are cheaper from Sporty's than even Amazon.

https://www.sportys.com/learn-to-fly/books-and-videos/asa-faa-publications.html


I should have looked there first. LOL.
 
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