Originally Posted by rajuabju

When I first started understanding the miles/points games, I quickly accumulated a ton of miles. I definitely hoarded for a bit.

Then I was hit with some devaluations... and I understand that miles/points are a fluid currency that have the most value at present time and in the future, they can ONLY be worth less. The value will never go up. No airline/hotel program ever significantly reduces redemption costs.

So I quickly learned to spend most of what I have. Yea, I still keep a reserve of a few hundred thousand miles in case of emergency, but generally, I earn enough to spend and spend what I earn.