Money to build suggestions?

[bddalm]

What have you had to do so that there was money in your budget to build your plane? Looking for suggestions...

[Jrskygod]

Beans and rice......rice and beans + no wife!!!!!!

[YellowJacket RV9]

I work as much overtime as I can (firefighter), and have a second job as a sailing coach. I have a second bank account for plane funds, and fill it only with that extra money. Last year I used a 0% intro rate card for some large purchases, but made sure to pay it off in the next few months before buying anything else. It helps that I have no kids, but am getting married in 2015 and would like to be done before kids ARE in the picture. Fortunately, she approves of the project and likes to fly.

My goal has been to not go into debt for the project or dip into my normal savings, and so far so good. I still need an engine, and am deciding how to handle that. Will probably go used, mid-time. I will probably sell my boat and use that money, but since I use the boat for work, I may keep it as long as I am making money and get a small loan instead.

Lifestyle-wise, I drive a 13 year old, paid-off vehicle, don't go out partying much, and buy new clothes only when the wife-to-be makes me. For the most part, if I'm not working, I'm building. I am keeping the plane simple, and probably won't paint it any time soon. Basic glass panel, because these days it's just as cheap and more reliable (IMO). I scour the VAF classifieds for deals and have bought a lot of equipment at great prices on here, saving thousands.

It's doable on a budget, but helps to not be in a hurry. If you're out of money for a while, there's usually still something productive you can plan or work on until you can afford the next piece. Keep it simple and look for good deals.

Chris

[ajay]

Prov 24:27
Develop your business first before building your house (and your plane.)

[bruceh]

Don't start unless you have the money!

Worst part of the buid for me was writing the big checks to keep the progress moving forward. And I did the slow build route, and didn't farm out any of the panel or engine rebuild.

[Neal@F14]

Didn't build my plane... bought it flying, but helped friends build 4 different RV's.

To be able to afford it:

Sold my beloved Cherokee 140, my first plane.
No expensive new iPhone every year or two... I'm on the cheapest out-of-contract plan and a 4 yr old Android that still works.
No cable or satellite TV.
No movies at theaters.
No going out to nightclubs, bars, etc.
Drastically reduced eating meals at restaurants, maybe once a month.
Take my lunch to work, no fast food lunches.
Drive old, paid-for vehicles and do all maint/repairs on them myself.
No fancy clothes, shoes, wristwatches, etc.
Just trying to live as frugal as I can stand it without being a total miser.

All resulting in getting to own a beautiful little RV-6 (financed, of course) and flying it about 50-70 hours a year, including a trip to Oshkosh each summer and also to Johnson Creek each of the past 2 years... but may skip one or both this year to help save up for a once-in-a-lifetime trip to Alaska that we're planning for summer of 2016.

[Champ]

Live in the US. Exchange, shipping & brokerage is a killer in Canada. Probably added 30% to my build.

[Brantel]

A little at a time. My build spanned 10 years because of money.

Some money savers:

• Bought a used engine and built a basic airplane and then as money allowed me to I upgraded it.
  
• I did stuff like build my own NAV lights and used a police car strobe light setup that was way cheaper than aviation models of the same thing and it is still going strong.
  
• Also bought Van's seat foam second hand and had Flightline make me some covers for em.
  
• Flew it for over a year with no paint.
  
• Wired and built my own panel.
  
• Followed the plans as much as possible and did not go off on tangents redesigning stuff.

Several years ago Doug put this out:
http://www.vansairforce.net/how.htm

[bkthomps]

worked harder, spend wiser; buy assets, not liabilities

[wirejock]

Originally Posted by Neal@F14

Sold my beloved Cherokee 140, my first plane.
No expensive new iPhone every year or two... I'm on the cheapest out-of-contract plan and a 4 yr old Android that still works.
No cable or satellite TV.
No movies at theaters.
No going out to nightclubs, bars, etc.
Drastically reduced eating meals at restaurants, maybe once a month.
Take my lunch to work, no fast food lunches.
Drive old, paid-for vehicles and do all maint/repairs on them myself.
No fancy clothes, shoes, wristwatches, etc.
Just trying to live as frugal as I can stand it without being a total miser.

Build or buy, that about sizes it up. Pray you have a wife that will support the decision.