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How to determine point/mile value?
Good evening Lucky,
I really enjoy your blog and am starting to write one of my own over at [URL=’http://designingformiles.com’]designingformiles.com[/URL] in hopes to prove to coworkers, friends, and family (especially my wife) that my hobbies as a point/mile collector hold certain value they could also enjoy and apply themselves. I have been a long time reader of your website and have not left any comments to date, but I did have one question and was hoping you would take the time to answer.
When you come up with your point and mile valuations what goes into this determination?
While 1.6 cents per mile makes sense for Alaskan Air if you are dividing the miles for award booking against the dollar value of a ticket there has to be more to the equation for you to get to said value? What I am asking is what do you do to determine these values and could you break down an example (and if there is a simple blog to answer this question that I may have missed, that be helpful too).
If this is like giving up the recipe to your “secret sauce” and you’d rather not, I understand.
Either way, Happy New Year and thank you for the informative blog!
[USER=1392]@stevenjmagner[/USER] hopefully this mini-series will help: [URL]http://onemileatatime.boardingarea.com/2015/07/29/value-redeemed-miles/[/URL]
Thank you so much, Gaurav!