Of course it leaves you with no money. You're fighting a war for the kingdom of France. You should spend every last penny if it'll help. You should expect to come out of the war with as much as 10-15 loans. If you didn't take on huge loans and you lost then you weren't really trying to win.
The Scotland advice is ridiculous. Scotland will be there later. A war to enforce a PU on France is quite rare and vastly more important and the war is quite winnable within a few years.
Read the thread I linked. Here it is again: The Hundered Years War, England 1.3
Parallel Pain has this strategy down to a fine art, such that he can vassalise Scotland and win against France getting the PU, ending up with no loans and 300+ gold in the bank and a positive income. He explained his strategy in great detail in the thread I linked , and I would highly recommend anyone reads it who wants to win HYW as England.
I followed Parallel's strategy only about 25% of the way through, deciding to go it alone after that. And I am nowhere near as careful player as he is. But I still managed to get Scotland while beating France and PUing it, followed soon after by all of Ireland (under a vassal of Tyrone). I ended up taking 5 loans, and having only 5k MP left, but these issues were fixed soon enough.
Following on from there, I completed the annexation of Scotland and Tyrone/Ireland, giving me a United Kingdom. I then smashed Burgandy in two wars, taking Picardie, Artois, Antwerpen, Cambray and Vlaanderan, most of which I got France to core. I took two provinces from Brittany, Armor and Morbihan, and Provence, all of which I also got France to core.
Later I smashed up Austria (by enforcing peace for Litvonian Order, whom Austria were fighting as allies of Denmark,) forcing it to release so many nations that it dropped from 17 provinces to 4. Burgundy coalition-DOW'd me immediately after - which was now my third Burgundy war. They were joined by Utrecht, Milan, Switzerland, Brittany (again), Munster, and a couple of others. But with my allies of Castile and Portugal, I beat them again, this time forcing them to release Ghent, and taking Munster as a vassal and feeding it Osnaburck and East Frisia which I took from Utrecht. During the Austria war, the integration of France completed, and I took the decision to become Great Britain after I finished the Burgundy coalition war.
It's still only 1520 and I now have France, Scotland, Ireland, Provence and half of Britanny all integrated. Munster as a three-province vassal, my capital is Antwerpen (which boosted my trade versus London), and that will soon will be linked to the rest of my empire via a vassalised Ghent. And I've cut one of my previous biggest threats, Austria, down to a shadow of its former glory. Oh and I'm Curia Controller as well, and on a tech par with the rest of Europe. I've just added my third idea group, having taken Admin Level 10 one year Ahead of Time.
So yes, it's perfectly possible to win HYW while taking Scotland, and much more besides
(Note I did all this on Normal with Historic Lucky Nations. I'm sure it's more challenging on Hard, although not necessarily hugely so as that just modifies the AI, not the specifics of mechanics. I plan to try that at some point later.)
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