Aviation careers and emergency budgeting

[///AMG]

I know that it isn't an improper term, but this is starting to sound like people that write FIAT and GOLD and THE JAB in roughly the same sentence. Like we are supposed to be afraid of the USD because it hasn't been tied to gold for 50+ years. In spite of being the standard currency across the world, and the strongest, for generations since. I'm not saying bad things can't happen, but that isn't a conspiracy story I'm paying to read.

 

[Richman]

I took 4-5 economics classes in college, and none of them even mentioned personal finance, from my recollection. They didn't have economics in my high school, either, but I am a product of a 1 star public education.

And economics was usually taught by professors who were functionally immune from bad swings in the economy.

Cash is the way. Pay as you go. Do everything you can to get out from debt and start building from there.

I used to think that it’d be hard, but back about 15 years ago I went on leave and cut expenses to the bone, still leaving a tiny bit of “eat out” money, and it was amazing how much you could reign it in IF you didn’t have the sword of Damocles of debt hanging over you.

Six months of expenses is good. Twelve is better.

 

[ZapBrannigan]

I've been furloughed more than just about anybody I know, and when my generation was furloughed post 9/11 it was for 7 years or more.

Six month expenses in the bank bought us time. Having a spouse with a good full time job bought even more. (Selling soaps on ETSY doesnt count. A real profession)

Live in your FO house with your FO wife.

I never bought much in the way of toys. Spoiled my kid, but seldom myself.

I pay cash for cars. The only debt I have ever had was a mortgage. Never carry credit card debt.

That's all I know. I'm not a finance guru, so I cant speak to investments or real estate and certainly not crypto. I just live my life like the other shoe is about to drop, and am always prepared for it to do so.

 

[Pilot Fighter]

Tomorrow I could be sitting right seat in our lowest paying jet on reserve.

How would this work with regards to bidding, after captain slots are filled captains would bid on open FO slots?

Normally, how often are FO seats filled by Captains? When there are no reserve FO’s available.

I fly a lot but never count stripes of guys in the right seat.

121 questions for $50, Jack.

 

[ZapBrannigan]

How would this work with regards to bidding, after captain slots are filled captains would bid on open FO slots?

Normally, how often are FO seats filled by Captains? When there are no reserve FO’s available.

I fly a lot but never count stripes of guys in the right seat.

121 questions for $50, Jack.

He’s saying if the airline downsizes, he could be forced into a downgrade and displacement onto lower paying equipment.