What's your plan? Hoard miles or burn em if you got em?
Mar 9, 2014, 5:33 pm
#91
Join Date: May 2000
Location: HH Gold, Marriott Gold, PC Plat, Emirates Silver
Posts: 2,679
I think there is a difference between hoarding and saving and it also depends on your family size. With a family of 4 you need to save alot of miles to take an international RT in BC or FC (400K+). So 400K is just saving for that situation but to a single person it may be in the hoarding range.
I do all 3: hoard, save and burn. I need a healthy balance for family trips in a cabin I am acustomed to traveling in, but I have no problem burning miles when the math works (ie don't burn miles when the ticket is $150)
I do all 3: hoard, save and burn. I need a healthy balance for family trips in a cabin I am acustomed to traveling in, but I have no problem burning miles when the math works (ie don't burn miles when the ticket is $150)
Mar 9, 2014, 11:52 pm
#92
Moderator, Hilton Honors
Join Date: Nov 2003
Location: on a short leash
Programs: some
Posts: 71,422
I think there is a difference between hoarding and saving and it also depends on your family size. With a family of 4 you need to save alot of miles to take an international RT in BC or FC (400K+). So 400K is just saving for that situation but to a single person it may be in the hoarding range.
Mar 10, 2014, 2:25 am
#93
Join Date: Feb 2009
Programs: AA 1MM, Hyatt GP Platinum, *wood Gold
Posts: 173
That is an interesting strategy. I mostly use my miles for the family summer vacation (4 people), but I have more miles than I need for that, so I was looking at some other ways to use them. I am always short on hotel points, so using them for hotels would be an attractive option, if the prices are right.
Also, IME if you are also an elite with your chosen hotel's frequent stay program, you won't get credit for your stay paid with miles, but you are still eligible for space available upgrades and similar perks. So if you succeed in booking a 5-star hotel outside of your usual hotel program, you might check to see if you can get a status match from your chosen hotel's program in advance.
Mar 10, 2014, 12:44 pm
#94
Join Date: Feb 2013
Location: Tampa, FL
Posts: 304
Mar 12, 2014, 2:05 pm
#95
Join Date: Aug 2011
Location: USA
Posts: 232
For a while I gathered up as many miles/points to some day use a few of them. Then a great discount from US Airways was offered where I received up to 30K miles back after spending 120K miles for North America-Europe(stopover)-Asia-Europe-North America. On the TATL return flight there were some unexpected inconveniences (i.e., the IFE in my J seat was broken), which was addressed by the airline compensating me with 10K miles.
With the recent merger of AA and US Airways, I believe there will be an award chart devaluation within a year. Earn and burn!
With the recent merger of AA and US Airways, I believe there will be an award chart devaluation within a year. Earn and burn!
Mar 12, 2014, 5:11 pm
#96
Join Date: Dec 2013
Posts: 234
I use a combo strategy like a lot of you. I have a family of 4, so need to bank a significant amount of points for annual family trips - but I can fly coach at worst case, so need to keep 200K united or AA miles banked (I figure I can scrounge together another 40K if needed).
I also like to do an occasional splurge trip. For example a trip to Maldives with just my wife, but I'll end up burning 400K-500K miles for that. I don't mind burning that kind of mileage if I know I can get serious value out of it, IE it's a trip I really want to do, and I get at least a 1 cent per mile value out of it based on if I flew the cheapest option. IE flights in coach are $1600, so spending 140K miles to fly in Cathay First works out for 1.1 cents per mile, plus I get to sit in First. Goal of doing this once a year.
The remaining points I earn, I try to burn on random trips, which are 100% optional and if this whole miles game goes bust, I'd probably skip. The key is to focus on trips I can fund easily through good deals, IE 100K BA card gives my family of 4 an easy trip to Cabo (probably 2-3 seats with points, other 1-2 with $$$). These points I've also used to fly family around as well. Between my wife and I we accrue at least 1M points a year, so this budget is nearly 250K points a year.
I also like to do an occasional splurge trip. For example a trip to Maldives with just my wife, but I'll end up burning 400K-500K miles for that. I don't mind burning that kind of mileage if I know I can get serious value out of it, IE it's a trip I really want to do, and I get at least a 1 cent per mile value out of it based on if I flew the cheapest option. IE flights in coach are $1600, so spending 140K miles to fly in Cathay First works out for 1.1 cents per mile, plus I get to sit in First. Goal of doing this once a year.
The remaining points I earn, I try to burn on random trips, which are 100% optional and if this whole miles game goes bust, I'd probably skip. The key is to focus on trips I can fund easily through good deals, IE 100K BA card gives my family of 4 an easy trip to Cabo (probably 2-3 seats with points, other 1-2 with $$$). These points I've also used to fly family around as well. Between my wife and I we accrue at least 1M points a year, so this budget is nearly 250K points a year.
Mar 19, 2014, 1:18 pm
#97
Join Date: Dec 2013
Posts: 7
I'm mixed, but fit the definition of a hoarder by FT standards. I do much of my earning via US cards etc like everyone else, but live offshore currently (not sure how long for so booking a year out not really practical). Wife and I have 4 kids also, so burning for every vaca during school holiday times not often possible under the circumstances.
We spend wherever possible- probably about half our travel costs get addressed with miles/points. But even so, we keep accruing...
We have about 4mil miles and points. I figure it's enabling travel we wouldn't have done and reducing the cost of travel we would have done anyhow. So I don't lose sleep over the fact that our balances are diminishing in value...
If you figure deflation across the board is 10% per annum (ie minus 400k pa in value of points for me currently), and we earn 1mil or so a year without too much effort, we're still well ahead of the game- especially when you consider we maintain the option of using just about any miles currency whenever an opportunity presents itself....
We spend wherever possible- probably about half our travel costs get addressed with miles/points. But even so, we keep accruing...
We have about 4mil miles and points. I figure it's enabling travel we wouldn't have done and reducing the cost of travel we would have done anyhow. So I don't lose sleep over the fact that our balances are diminishing in value...
If you figure deflation across the board is 10% per annum (ie minus 400k pa in value of points for me currently), and we earn 1mil or so a year without too much effort, we're still well ahead of the game- especially when you consider we maintain the option of using just about any miles currency whenever an opportunity presents itself....
Mar 20, 2014, 4:58 pm
#98
Join Date: Sep 2011
Posts: 187
I'm mixed, but fit the definition of a hoarder by FT standards. I do much of my earning via US cards etc like everyone else, but live offshore currently (not sure how long for so booking a year out not really practical). Wife and I have 4 kids also, so burning for every vaca during school holiday times not often possible under the circumstances.
We spend wherever possible- probably about half our travel costs get addressed with miles/points. But even so, we keep accruing...
We have about 4mil miles and points. I figure it's enabling travel we wouldn't have done and reducing the cost of travel we would have done anyhow. So I don't lose sleep over the fact that our balances are diminishing in value...
If you figure deflation across the board is 10% per annum (ie minus 400k pa in value of points for me currently), and we earn 1mil or so a year without too much effort, we're still well ahead of the game- especially when you consider we maintain the option of using just about any miles currency whenever an opportunity presents itself....
We spend wherever possible- probably about half our travel costs get addressed with miles/points. But even so, we keep accruing...
We have about 4mil miles and points. I figure it's enabling travel we wouldn't have done and reducing the cost of travel we would have done anyhow. So I don't lose sleep over the fact that our balances are diminishing in value...
If you figure deflation across the board is 10% per annum (ie minus 400k pa in value of points for me currently), and we earn 1mil or so a year without too much effort, we're still well ahead of the game- especially when you consider we maintain the option of using just about any miles currency whenever an opportunity presents itself....
I'm currently in earn mode. My rule of thumb is to have enough for my next two trips in the bank at any time since I only take about two big trips a year. Helps to keep the deval risk down and my hoarding nature at bay
Mar 21, 2014, 2:09 am
#99
Join Date: Jul 2011
Location: Los Angeles
Programs: Delta Kryptonium-Platinum Medallion, Hyatt/Hilton Diamond
Posts: 365
When I first started, I was definitely a hoarder. Didn't want to see my miles/point totals diminish. The most I had at one point was a little over 2 mil.
After using miles for my first international award in a premium cabin, I was hooked and wanted to book as many possible flights and hotel stays as possible.
In a little over 2 years, I ended up burning 3 million miles and points for myself, friends and family.
Now, whenever I'm sitting on some miles, I try to burn them as fast as possible and feel kind of restless until I do so. I'm paranoid about devaluations among the other uncertainties of this game so burning the miles and using them for something tangible makes me feel better.
After using miles for my first international award in a premium cabin, I was hooked and wanted to book as many possible flights and hotel stays as possible.
In a little over 2 years, I ended up burning 3 million miles and points for myself, friends and family.
Now, whenever I'm sitting on some miles, I try to burn them as fast as possible and feel kind of restless until I do so. I'm paranoid about devaluations among the other uncertainties of this game so burning the miles and using them for something tangible makes me feel better.
Mar 21, 2014, 2:17 am
#100
Moderator, Hilton Honors
Join Date: Nov 2003
Location: on a short leash
Programs: some
Posts: 71,422
I'm mixed, but fit the definition of a hoarder by FT standards. I do much of my earning via US cards etc like everyone else, but live offshore currently (not sure how long for so booking a year out not really practical). Wife and I have 4 kids also, so burning for every vaca during school holiday times not often possible under the circumstances.
We spend wherever possible- probably about half our travel costs get addressed with miles/points. But even so, we keep accruing...
We have about 4mil miles and points. I figure it's enabling travel we wouldn't have done and reducing the cost of travel we would have done anyhow. So I don't lose sleep over the fact that our balances are diminishing in value...
If you figure deflation across the board is 10% per annum (ie minus 400k pa in value of points for me currently), and we earn 1mil or so a year without too much effort, we're still well ahead of the game- especially when you consider we maintain the option of using just about any miles currency whenever an opportunity presents itself....
We spend wherever possible- probably about half our travel costs get addressed with miles/points. But even so, we keep accruing...
We have about 4mil miles and points. I figure it's enabling travel we wouldn't have done and reducing the cost of travel we would have done anyhow. So I don't lose sleep over the fact that our balances are diminishing in value...
If you figure deflation across the board is 10% per annum (ie minus 400k pa in value of points for me currently), and we earn 1mil or so a year without too much effort, we're still well ahead of the game- especially when you consider we maintain the option of using just about any miles currency whenever an opportunity presents itself....
Mar 21, 2014, 7:31 am
#101
Join Date: Dec 2013
Posts: 7
4mil is quite a lot of points. Mind if I ask how you accrued so many?
I'm currently in earn mode. My rule of thumb is to have enough for my next two trips in the bank at any time since I only take about two big trips a year. Helps to keep the deval risk down and my hoarding nature at bay
I'm currently in earn mode. My rule of thumb is to have enough for my next two trips in the bank at any time since I only take about two big trips a year. Helps to keep the deval risk down and my hoarding nature at bay
40+ cards for me last 3-4yrs, 25 or so for the wife. Plus travel internationally for work, return to the US from Europe on paid flights 3-4 times a year (6 of us). It adds up especially when you are watching out for promotions etc.. Oh to clarify- I'm counting all of the accounts for me and my wife, and the 4 kids, in this tally...
I don't do any MS - have insignificant amount of kiva- have never bought a reload card.
Mar 21, 2014, 7:36 am
#102
Join Date: Dec 2013
Posts: 7
.. It's a high quality problem...
Mar 21, 2014, 8:56 am
#103
Join Date: Dec 2010
Posts: 352
Family of 6 here so I save quite often (and with a 3 month old since we can't really go anywhere anyway, I'm saving by forced savings!).
With 6 and no real MS, an international trip with everyone really isn't feasible. But I do save for my wife and I to do just that.
Burn when it makes sense but with 5 (now 6) every trip burns quite a bit!
With 6 and no real MS, an international trip with everyone really isn't feasible. But I do save for my wife and I to do just that.
Burn when it makes sense but with 5 (now 6) every trip burns quite a bit!
Mar 21, 2014, 5:16 pm
#104
Join Date: Sep 2011
Posts: 187
40+ cards for me last 3-4yrs, 25 or so for the wife. Plus travel internationally for work, return to the US from Europe on paid flights 3-4 times a year (6 of us). It adds up especially when you are watching out for promotions etc.. Oh to clarify- I'm counting all of the accounts for me and my wife, and the 4 kids, in this tally...
I don't do any MS - have insignificant amount of kiva- have never bought a reload card.
I don't do any MS - have insignificant amount of kiva- have never bought a reload card.
Family of 6 here so I save quite often (and with a 3 month old since we can't really go anywhere anyway, I'm saving by forced savings!).
With 6 and no real MS, an international trip with everyone really isn't feasible. But I do save for my wife and I to do just that.
Burn when it makes sense but with 5 (now 6) every trip burns quite a bit!
With 6 and no real MS, an international trip with everyone really isn't feasible. But I do save for my wife and I to do just that.
Burn when it makes sense but with 5 (now 6) every trip burns quite a bit!
Mar 22, 2014, 5:16 pm
#105
Join Date: Jan 2010
Programs: AA EXP, SPG Platinum
Posts: 129
I think the best strategy is to keep only as many miles saved up as you would be able to use flying like your normally would in the period between when devaluation is announced and when it would actually goes into effect.
Airline miles, absent devaluation announcements, should generally get more valuable over time due to dollar inflation- the same number of miles will buy a flight that will cost more in the future. So earning and burning is costing you a tiny bit to inflation.
On the other hand hoarding isn't going to help since announced devaluations can hurt way more than years of inflation. You probably aren't going to be able to blow 1 mil miles in a few months absent special circumstances, so don't keep 1 mil miles on hand.
Airline miles, absent devaluation announcements, should generally get more valuable over time due to dollar inflation- the same number of miles will buy a flight that will cost more in the future. So earning and burning is costing you a tiny bit to inflation.
On the other hand hoarding isn't going to help since announced devaluations can hurt way more than years of inflation. You probably aren't going to be able to blow 1 mil miles in a few months absent special circumstances, so don't keep 1 mil miles on hand.