Welcome to eClass 3:

How to finance your flying career…

 Here we go…


PART 1: Making sure Finance doesn’t hold you back

In eClass 1 we looked at all the things that a pilot encounters including some of the hard bits.
By now you should have come to the conclusion that a pilot’s life sounds okay or at the very least it is worth continuing to learn the steps.
Any hurdles or challenges that can be predicted are easier to overcome and find a solution.
Remember the 5 P’s?
Let’s look at the way finance affects your Flying Training.


Check2blue2It’s an anchor, which prevents you starting training

Check2blue2It’s the brakes that slow you down
Check2blue2Consistent lessons are the best way to learn
Check2blue2Inconsistent lessons can end up costing you more as you need to revise previous topic or exercise
Check2blue2It can be a subconscious excuse when the going gets tough

So where to from here?
From my experience and observation people overcome this challenge various ways and each has good bits and bad bits.

You will obviously fall into one of these categories. Each one has produced a pilot in the aviation industry.
Once you know what situation you are dealing with:

  • you can work out what’s possible
  • start providing the best solution


Have a look at this!
Our Secret Training Options Analysis…














Time for another ‘pilot saying’




Where I am?







Where do I want to be?








And how am I going to get there?




My advice is to gather together the ‘finance committee’ in your home and work out where you are at and then get started on where you want to be.

PART 2:  Look inside my ‘Flight Cost Calculator’

Click Here to get to the Flight Cost Calculator in Excel.


PART 3:  5 Ways to fund your flying

1. Save! Save! Save! $$$$$

Flying is such a rewarding pastime. It’s worth taking jobs in the holidays or extra jobs at home.  Set up a budget plan on excel and make yourself work to it.  This will keep you motivated if you can see that every bit helps.  This also can be used if you are working full time to force yourself to save. What you miss out on before whilst saving will be paid back ten fold in the lifestyle you can create from an airline career. Consider training close to home to save on accommodation and meals.














2. Borrow from family

You need to demonstrate that you are 100% committed to achieving your dream to fly before you even think about asking your folks to finance you.  If you have loved planes all your life this should be obvious to them.. However, if you have been slack in other parts of your life (i.e. If homework is a battle between you and your folks – THE DOG DID NOT EAT YOUR HOMEWORK!) well I have one thing to say – “IT’S NOT TOO LATE TO CHANGE YOUR WAYS!” Hit the books at school.  Make it an obvious no-brainer that you are committed to this.  If you are finding it difficult always have a back up plan – like a business arrangement.  Offer them a repayment schedule with terms that you can extend until you are earning an income from flying.


Do Homework


3. Borrow from a financial institution

You will need to approach a bank for possible options and talk to your accountant so that you understand your commitment.  The bank that I spoke to said that it would be considered on a case-by-case basis.  The restrictions that are possible for your career are that you need to pay this back even if you aren’t working and this can put pressure on selecting the most appropriate job.

It can also leave you stuck in a job for ‘job security’ and may miss the chance to progress as quickly as possible.  You may also need a guarantor for your loan.

4. Military or Air force Cadet Program

If you join up the costs are covered, however you have a time commitment. Also you will have to decide if the discipline aspect suits you.  You either like or need it or you don’t.  Many parents might consider this but also need to be aware that live action is inevitable. Cadet or Air League programs are a way of learning about the industry generally for young people between 11-18 years.

These programs are often include subsidized flying training due to donated time from experienced personnel and can be a whole lot fun with kids with a common interest.  Start networking from a young age! This way can lead to pursuing a military or civil aviation career.

5. Work around the airport

It is possible to approach a flying school or maintenance organization about the possibility of working on the desk or hanger floor (even if its sweeping it!) for flying lesson credits.  

Always make sure that you record your hours and be clear on the value of them with the employer first. E.g. Every 8 hours worked is one lesson. This is also a great way to get to know the industry and get ‘known’. (As long as it’s for the right reasons!)



Following on from this information, I have enclosed a sample of a Loan Application provided by a major Australian Bank. This is to be treated as an example to give you an indication of what is required of you if you wish to apply for finance, whether it be unsecured or guaranteed.

I make no recommendations for this or any other product provided by NAB, Aussie or any other financial institution, however, I would suggest if you wish to use finance that you discuss this with your personal banker/bank manager/mortgage broker so you fully understand the implications of personal finance.

Click here for an example of some Bank Loan Documents

As I have mentioned on some of past webinars I am fortunate to have one of our High End Mentoring Clients {CPL Career Booster program} who apart from being a Commerial Pilot, is also a Loan Broker with Aussie Home Loans. Whilst I recommend you perform the necessary due diligence, I would recommend you talk with Chris, as he certainly understands the effort and dedication required by trainee pilots.

Chris’s contact details are on the documents and his website is : Chris Partington

PART 4:  Questions for you

Determine the financial commitment that you can make?
Which is your best option?
Use the Flight Cost Calculator to determine how often you will be able to fly.
Would it be beneficial to speak to a financial adviser or bank?
Be at the Webinar for further discussion on this topic.

Next week’s preview… How to Become a Commercial Pilot in less than a year…’

Congratulations on completing this eClass.  Check out below the eClass calendar to see what’s in store!

If you have any questions or comments please send them to info@ouraviationsecrets.com Look forward to speaking with you at the Webinar.






Captain Craig Baker

Airline Pilot and Professional Pilot Mentor