Once you have collected some miles there is the question of what to spend the points on. Hopefully you went through some of this process when you started to collect points. To make sure you are getting the best value for your points you need to figure out what they are worth. How to do this? There is some excellent information on how to value your frequent flier miles or points on Gary Steiger’s website freefrequentfliermiles
Using the formula Gary recommends, I end up with my British Airways and Aeroplan miles being worth 2 cents each, my airmiles miles at 12.5 cents each, and my Marriott points at 1 cent each. This is going to be helpful for the next time I look at whether or not to use my points for something.
I find that having points is like collecting change in a piggy bank, it takes a while to get anything useful, but over time it is definitely possible. In most cases it is worth using the miles when you can because the managers of these loyalty programs can, and do, change the rules at any time.
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