Miles aren't free. That's one of the concepts I have the hardest time explaining to friends external the hobby.
They can't wrap their head around the fact that I'd pay for a hotel stay or flight when I have millions of points. Which is sort of comprehensible. What those people don't understand is that each point has a specific value to me,and unless circumstances are extreme, I won't redeem it at less than that value. That's because there's always an acquisition/opportunity cost to the miles I earn.
Travis recently wrote a series outlining how to value miles, and both on the earnings and redemption side:-- Miles Aren’t Free: How To Value Your Redemptions
-- Miles Aren’t Free: How To Value What You Earn
-- Miles Aren’t Free: Establishing An Overall ValueThe post When Paying For commerce Class Is Better Than Using Miles? appeared first on One Mile at a Time.
Source: boardingarea.com