Financial planning and aviation

[EdFred]

Not sure if it was answered but how much percentage of income do most people use for flying?

For me - 20-25% of gross, but I also have everything I own paid for.
House payment = flying money
Car payment = flying money

 

[jesse]

Not sure if it was answered but how much percentage of income do most people use for flying?

I spend about 6 percent. I fly about 400 hours a year. 100 or so of that on my dime.

 

[hindsight2020]

Last year it was about 20% of net income due to a specific long range commute circumstance (220hrs). This year it should go back down to a customary 10-13% of net, based of a more common 60-70hr/yr mission profile, which I'll prob won't even meet this year, for I am airplaneless still. 15% of net is what I realistically have set for my household budget.

I do admit, if I didn't work professionally as a pilot I would be making some efforts to increase my allotted budget for flying. I get away with diluting a lot of my proficiency flying with the professional flying I do. So in essence my recurrent training is being subsidized by my day job. If that wasn't the case I would have to take steps to include more flying into the budget. 20% would be a more appropriate figure, otherwise it'd be less destination flying and that's just no fun.

 

[sferguson524]

Move out of that economic hell-hole.

We've discussed it. I think the current plan is arizona in the next 5 years. Cheaper housing, and close enough to visit friends/family