I want to touch on a tricky topic that one must take into account when they are booking a trip points or miles.
A common question that I am asked is “Is it worth it to use my points or miles?” I think a better question may be-“Is it worth it TO YOU to use them? There is no easy answer to this question, as it is subjective based on your own personal finances and travel goals.
I know two very different types of people. Person A will only use their rewards if it makes financial sense to do so. For example, some travel bloggers value various points at 2 cents a piece. Person A will only use their points if the value of the travel they are booking is greater than the value of the points they are using.
On the other hand, Person B does not even think about value. If they use rewards to book a free trip, that is all the “value” they need to make it worth it for them. Many of these people would not be able to travel if they could not use their points and miles, so if they are losing value, so be it.
I fall somewhere in the middle. I take into account point and mile valuations when I search for award travel. If the cost of my flight or hotel stay is low, I will not use my points or miles if the discrepancy in value is too great. For example, I almost always pay for a flight under $200 because I would likely be losing too much value using miles. But, if the price tag of a ticket or a room is higher, I may opt for the redemption, even if I am losing value.
Think about where you are on this spectrum. It will help you in making decisions as to whether to use those rewards.