I had an interesting thought today, “Do I spend more money with this points/miles hobby?” Of course, I save thousands yearly on travel using credit card points and miles. But as I pondered this question, the answer was, “Maybe.” 

Spending Money on Travel

While points and miles typically cover my flights and lodging, I do still have to pay for food. Of course, I have to pay for eating anyway, but it can certainly be argued that eating out is more expensive than cooking at home.  I can usually count on free food at airport lounges and complimentary breakfasts, but that still leaves some restaurant meals. 

When traveling, I want to do excursions (and massages 😜), which are expenses I don’t have at home. That is definitely an increase in normal spending. 

I could cut down on massages to save money on trips.

Easier to Spend Money When Earning Points/Miles

While I don’t buy expensive purses, etc. I will admit that it is easier to rationalize purchasing a pair of nice travel pants, knowing I will earn more points/miles on them. That rationale of “at least I’m earning points” makes it a little too easy to spend sometimes. We all need to be careful with that!

Ways to Combat Spending More Money

I definitely think we can all fall into the trap of spending more money than we usually would with this hobby if we aren’t careful. Here are some ways to combat that:

• Stick to a budget – Jess swears by YNAB! 
• Make a budget for trips, too.
• There are many excursions that are free, especially walking tours, where you just tip the guide. There are also many cheap apps like VoiceMap that have great audio tours. We used one in Edinburgh, Scotland, for a Harry Potter tour and loved it. 
• Use bank account bonuses to pay for those extra travel expenses.

Bottom Line

When answering the question, “Do I spend more money with this points/miles hobby?” I’d have to say that yes, I do. However, I planned to spend some of my retirement money on travel, and I am spending far less than I anticipated since I use credit card points and miles.

The ability to use credit card points and miles to create priceless memories is a gift, and even if there are other expenses because of travel, I think it is all worth it. It still might be worth assessing how we are doing with our spending occasionally to ensure we don’t get in financial trouble. How would you answer this question, and do you have suggestions for others to save money with this hobby?