Originally Posted by
iminsandiego
By using Quicken I am 100% positive that I don't have any money sitting in my used GC drawer since everything is reconciled. I highly recommend this method of tracking. 10 minutes every few days is all it takes to be completely organized.
I forgot to add that I count TCB cash back as income to the Miles Fees category and all credit card annual fees as expenses to Miles Fees.
This information is incredibly valuable since I can run a report on the category Miles Fees and see my net spend for Miles. For example, in the last 12 months I had a net spend of about $1100 in order to acquire over 2M miles. Granted, a large number of those miles are from sign up bonuses. But with this information I'm able to easily explain to my wife the value of stopping at Walmart on the way to visit her parents or why she needs to make a VR run at CVS with her new SPG card. She also understands the value when we fly in biz class across the Pacific or Atlantic for just the cost of taxes and fees on the awards.