Housekeeping Note: I’ve been successful in moving over email subscriptions. If you didn’t get an email about this post you’ll want to re-subscribe to the blog.
I won’t take too long to reintroduce the idea of a demand schedule. For anyone who’s new to Milenomics a Demand Schedule, as well as a Conservation system are two very important components we should all have. Both of these will be unique to you. A Mileage Conservation system splits your miles into those you’ll use for Domestic Travel and those you’ll save for larger international trips.
A Demand schedule is two things: First, it is a listing of all your possible upcoming flights. In addition to where you want to go, when you’re looking to take off and come back should be listed as well. Secondly, it is an attempt to estimate how many miles (your demand) you’ll need to earn to reach EQM-Zero, or $0 in paid flights. Using an estimate of demand helps us to stop earning miles.
“Why stop earning miles?” you might ask? There are two real reasons; because miles are depreciating while you hold them. And because you spend money, time and energy to earn them. Earning miles you won’t be using means you’ll lock your money up into those miles. Over the years maybe you’ll see them become useful, or maybe not.
Outlining your travel with a demand schedule also helps limit the number of trips you take. I’ve asked this question before on Milenomics–but if travel was free (it is not) would you consume more of it? Knowing where we want to go can help us to spend what we can afford to spend on travel, and not overspend on “free” trips.
My Demand Schedule for 2014-2015
I mentioned last week that I’m slowing down in my old age (I’m 32 now, and will be 33 soon). As such my need for Miles this year is lower than it has been ever before. I’ve got some flights booked already, and if nothing changes I’ll fly a little over 51,000 miles this year:
I’ve got my pretty regular trips like Seattle, and a SLC trip coming up. I also would love to get to see family in Orlando and Buffalo (Never again in the Winter, I’m still thawing out from Thanksgiving). For now my Demand schedule looks like this for the following 12 months:
We’re not simply listing the flights we know we will take, we should be using a demand schedule as a forecast of sorts–to gauge where we want to go in the short/long term. Dream locations, trips we’re not sure we will take, and double booking dates are all acceptable in a demand schedule.
Demand Schedules are never set in stone.
Take a look at my demand schedule. You’ll see that some of these flights are already booked. Others may not happen at all. And I’m sure I’ll be adding other flights to this list as the year goes on. Your demand schedule should be a rolling 1 or 2 year schedule of all the places you want to go even if you don’t know if you will be able to make it there.
The more complete the schedule the more you’ll be able to target your earnings. The closer your Supply of Miles and your Demand of Miles are to equilibrium the less money you’ll spend on miles you won’t use. In addition you’ll have an easier time when it comes time to book, and attempt to add on free one ways, and free round trips.
When mistake fares come up you’ll be able to capitalize by knowing when and where you want to go ahead of time. Mistake fares are often gone quick, so if you find one, and can book it for less than the cost of your miles, by all means do so. This is another good reason to put those dream trips on your schedule–a mistake fare could make a dream trip a possibility.
Put together Your Demand Schedule
There’s no time like now to start a demand schedule. If you’ve started one but let it lapse take time in the next few days to extend it out at least 1 full year from today. If you’ve already made one take today to update it, review it, and start booking whatever flights you can.
To Save miles: Use your demand schedule to try and merge as many flights as you possibly can using free one ways, the Hybrid System, or Double down bookings. If you have questions I’m avalable on Facebook, Twitter, and via Email.