Finance

Smart Money Podcast: Nerdy Travel Diaries: Weightlifting in New Mexico

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Welcome to BaghdadTime’s Sensible Cash podcast, the place we reply your real-world cash questions.

On this week’s episode, a Journey Nerd shares her story about going to New Mexico for a weightlifting meet and the way she saved cash alongside the way in which.

Try this episode on any of those platforms:

Earlier than you construct a funds

BaghdadTime breaks down your spending and reveals you methods to avoid wasting.

Our take

To take part in your favourite hobbies, you in all probability need to spend cash typically. Whether or not your extracurriculars embody sports activities, chess membership or video video games, you are probably shelling out for issues akin to uniforms, charges and tools. Tack on the price of costly journey for competitions, tournaments or performances and it could actually rapidly put a pressure in your funds.

As Nerds, we really feel the pinch too. One Nerd, Sally French, is a aggressive athlete in Olympic weightlifting. She might have simply spent greater than $2,100 on a five-day, five-night journey for 2 to Albuquerque, New Mexico, for the USA Weightlifting North American Open Sequence 2.

As a substitute, she spent solely $400 money and redeemed roughly $570 value of factors for the journey, which included meals, leisure, rideshares, motels and airfare.

She did it by way of a mixture of spending bonuses, bank card introductory presents, and understanding when to ebook with money versus factors. Whereas journey prices for occasions like this meet may be aggravating, they could be a lot much less painful once you use bank card rewards to cowl a few of them.

Our ideas

  • Use factors to pay for journey that you’re obligated to tackle fastened dates: Passion- or extracurricular-related journeys the place you don’t get to choose the vacation spot or the timing at all times appear to be probably the most annoyingly costly sorts of journey. Paying for them with factors reduces that burden.

  • Search resort and basic journey playing cards with sign-up bonus presents: The factors supplied by a bank card’s sign-up bonus can usually be sufficient to cowl a multi-night resort keep.

  • Don’t worry annual payment bank cards: The financial savings their advantages present usually far outweigh their charges.

Extra about journey on BaghdadTime:

Episode transcript

Sean Pyles: Welcome to the BaghdadTime Sensible Cash Podcast, the place we often reply your private finance questions and enable you to really feel somewhat smarter about what you do along with your cash. I am Sean Pyles. We’ve got a particular episode in retailer for you this time round. We’re kicking off our Journey Diary sequence, the place we’ll hear tales from our Journey Nerds in regards to the journeys they’ve taken and the cash they’ve saved alongside the way in which. This episode’s story comes from BaghdadTime journey author Sally French, who’s right here to share the main points of her weightlifting journey adventures. Sally, thanks for taking time without work of your very intense coaching to speak with me on the podcast.

Sally French: Sean, for you, I can sacrifice a while on the squat rack to share my tales about weightlifting and cash saving.

Sean: I so admire it. You’re a aggressive weightlifter, and the digital watercooler gossip at BaghdadTime is that you simply had fairly a day on the American Open Sequence in New Mexico.

Sally: Yeah, so the American Open Sequence is a twice-a-year, national-level weightlifting meet. Weightlifting isn’t just doing bicep curls. It is a sport of Olympic weightlifting — two lifts, the snatch, and the clear and jerk, which is identical sport you see within the Olympics.

Sally: I used to be truly a fairly critical competitor for a spot on the rostrum.

Sean: That may be very cool. The clear and jerk seems like one thing I should not even be allowed to say on this podcast. What’s that?

Sally: You are not a jerk, don’t be concerned. The clear and jerk — it is the place you decide up the bar like a deadlift, and then you definitely soar right into a entrance squat, so that you catch it in entrance of you, then you definitely stand it up, and then you definitely throw the bar overhead.

Sally: If anybody is definitely an Olympic weightlifter on the market, I apologize for that botched description. However, I really feel like for everybody else, it ought to make excellent sense.

Sean: Yeah, that is the traditional weightlifting transfer.

Sean: How a lot are you able to elevate?

Sally: Throwing it up over your head, you possibly can’t fairly do as a lot as you possibly can deadlift, so individually you’ll additionally prepare a deadlift. My greatest deadlift is thrice physique weight.

Sally: Which, I am actually small, in order that was 313 kilos. However so far as the clear and jerk, spoiler alert, I acquired gold at this meet. That was 63 kilograms, 138.6 kilos.

Sally: Weightlifting is a weight class-based sport. I am within the lightest weight class, in order that was 1.4 occasions physique weight over my head.

Sean: Effectively, that’s massively spectacular. Congrats, Sally.

Sean: Now, I wish to hear in regards to the journey that you simply took to New Mexico — since you are from the Bay Space initially — and the way you saved cash on this journey.

Sally: Sure. The true wild quantity right here isn’t how a lot weight I lifted, however how a lot I saved. I feel anybody who does any type of sport or marching band or dance, or one thing like that, at all times has to journey for no matter it’s that they do, and paying for it’s so annoying. You like this sport, however it’s like, ugh, I’ve to pay for this journey to a state that you simply won’t have even been there, and all these bills add up. You are already in all probability paying a payment to enter the meet, you are paying for the outfit, the costume, no matter it’s, after which you have to pay for these flights, motels and different bills.

Sally: These bills are so unavoidable, for one, and annoying.

Sean: Yeah, and the dates aren’t versatile. You simply need to go there as a result of that is the place your ardour, your pastime is taking you.

Sally: Proper. I really feel like I learn so many journey ideas which are like, simply journey in the course of the offseason, or journey midweek. It is like, effectively, I can not actually select the date of the American Open Sequence.

Sean: Proper, you are form of on their schedule. Effectively, let’s dig into a few of these specifics and see what we are able to study out of your journey technique.

Sean: Let’s begin by establishing the journey. You talked about that this was an annoying expense, however you actually did wish to go. Are you able to inform us why this was so vital so that you can attend?

Sally: Yeah. The American Open Sequence is a large occasion in weightlifting. It had been a few 12 months and a half of COVID lockdowns. Sometimes you’ll compete, I’d say, 4 occasions a 12 months a minimum of is regular for aggressive lifters, however I hadn’t competed in any respect. When the American Open Sequence got here alongside, this was a national-level occasion, and it was one thing that I used to be simply angsty to compete usually.

Sally: I spotted that I used to be a contender for a medal as a result of I would been coaching this time, and I feel plenty of different folks have been cautious about touring, that it was like, OK, let’s go, let’s get a medal, and let’s lastly go on a visit.

Sean: Get of your condominium for the primary time in a very long time.

Sean: Cool. Inform me about what you wanted in a resort room, as a result of I am imagining that it’s a must to carry plenty of particular gear with you for this. Proper?

Sally: Sure, positively. You are fairly choosy about the place you are going to keep. You in all probability wish to cook dinner your individual meals, so that you need some type of kitchenette, positively a minimum of a microwave and a fridge. That already guidelines out some locations. I used to be staying for 5 nights, since you do wish to get there early to get adjusted. It was in Albuquerque, so that you wish to get adjusted to the altitude.

Sally: Then, additionally I wasn’t truly simply lifting myself. I used to be teaching a pair different folks simply as a volunteer, so I truly ended up having to remain 5 nights to remain for them lifting as effectively.

Sean: 5 nights in a resort can get fairly costly.

Sean: Let’s hear about how a lot this resort keep would’ve value usually for folk simply reserving commonplace, after which how a lot you ended up paying.

Sally: Yeah. One other factor that was actually vital to me was simply being near the venue. It was the Albuquerque Conference Middle. I do not wish to be to driving backwards and forwards. I do not wish to be searching for parking and being harassed that I’ll be late for my lifting due to parking, so I actually needed to be in strolling distance, so already my choices have been restricted. I do know lots of people who journey really feel that approach, that you simply’re constrained to a sure space. I did discover the Hyatt Regency Albuquerque was situated proper throughout the road from the conference middle. Here is the kicker, Sean, is 5 nights would have in money value about $1,200. Yikes, I do know, for a weightlifting meet.

Sally: $1,200 isn’t interesting.

Sally: The excellent news is I didn’t pay $1,200. In reality, I paid $0. However, I did half with some bank card factors. The Hyatt Regency is clearly a Hyatt, and it is a Class 1 Hyatt property. So Hyatt divides their properties by way of Class 1 by way of 8 — 1 is the most affordable. This was 5,000 factors per evening, so 25,000 factors whole.

Sally: I do not even have any Hyatt factors, so I booked with 25,000 Chase Final Rewards® factors. I’ve a Chase bank card that permits me to switch my factors 1 to 1. With 25,000 Chase factors, I can convert these to 25,000 World of Hyatt factors.

Sean: OK, that is fairly useful. One fast disclaimer: Chase is a BaghdadTime accomplice, however that does not have an effect on the way in which that we discuss them.

OK, so that you saved some huge cash utilizing these factors, and it coated the price of your keep solely.

Sally: Sure, and so it is actually vital to know that factors have this wide-ranging worth. As I mentioned, if I had simply paid for the journey in money, the resort would’ve value $1,200. I used 25,000 Chase factors. However the subject lots of people who’ve Chase factors make is a few of them simply redeem them for money again. 25,000 Chase factors, when redeemed for money again, is simply $250. That will’ve mainly coated one evening in my resort. Not nice. I acquired 5 nights. Chase does allow you to ebook journey instantly by way of them by way of their Final Rewards® portal, they usually offer you type of a factors multiplier. They can provide you between a 1.25 to 1.5x multiplier relying on the cardboard, when you ebook by way of their journey portal instantly.

Sally: In my case, my factors might have been value $312.50 if I had simply booked the money charge by way of their journey portal. Loads of my buddies I see truly do this, they usually say, “Oh, I saved a free evening with this.” However this is the factor, is you actually, actually must be truly trying into transferring your factors to the motels or airways instantly, as a result of you possibly can switch at a 1:1 ratio.

Here is the place the mathematics will get somewhat, dare I say, nerdy, is that BaghdadTime values their World of Hyatt factors at 1.9 cents every, so my factors when redeemed by way of that valuation would truly be value $475. Now, Sean, you are taking a look at me and you are like, how did you ebook a $1,200 room for factors value $475? The opposite factor to recollect is that BaghdadTime’s valuation of factors is predicated on what we take into account a superb redemption. In case you can redeem your factors at $475, that is a superb redemption. I acquired an amazing redemption.

Sally: I feel the explanation why my redemption was so nice is as a result of I had booked a spot that had a very artificially excessive money charge coming off of COVID. It was only a Class 1 resort, as a result of not lots of people are going to Albuquerque, however abruptly for this weightlifting meet, you’ve got this inflow of hundreds of individuals coming into this metropolis, so motels see this they usually say, oh my gosh, we have to increase our room charges.

Sean: Making up for the previous two years of not likely having many guests.

Sally: Precisely. Possibly for the previous two years, 5 nights would’ve value you $500 in money. However abruptly, this weightlifting meet comes into city, the resort raises their charges to $1,200 for 5 nights, and immediately I am solely paying the factors charge, which is an unimaginable deal.

Sean: As you’ve got laid out, you’re very astute at understanding the worth of factors and methods to use completely different factors in several methods to get the best worth out of them to your journey goal. However for lots of people, this may be fairly complicated to navigate. For people who wish to take advantage of their bank card factors for journey, how do you suppose they need to kind out the worth, and whether or not they need to use these factors for money again or for reserving a resort or a flight? It might probably all be fairly sophisticated.

Sally: The very first thing I’d say is it is virtually by no means a good suggestion to redeem your factors for money again. Journey bank cards are designed to be redeemed for journey. One factor I’d advocate that you simply do is — shameless plug for the BaghdadTime factors calculator — however no matter you are taking a look at, whether or not it is Hyatt like I used to be, or Hilton, or Marriott, or an airline, United, no matter it’s, go and search the BaghdadTime calculators. And you may truly enter the variety of factors it’s going to value you, and it will inform you what these factors are value. If the money fare is best, then positively pay money. However then you may as well see, oh, truly these factors are value roughly, then you possibly can determine if it is a greater thought to truly pay for them in factors.

Sean: Acquired it. Principally, permit us to do the mathematics for you.

Sally: Permit BaghdadTime to do the mathematics for you.

Sally: Some journey manufacturers do make it simpler. Within the Hyatt state of affairs, it is form of luck of the draw that I might’ve needed to spend all these factors, and perhaps the room charge was solely $50 an evening for no matter purpose. Then that is not a superb use of factors. However as a result of the room charge was so excessive, it was a superb use of factors. There are journey manufacturers that really simply peg the factors to a greenback quantity. One of many manufacturers that does that is Southwest. We are saying that their factors are value 1.4 cents every, and that is actually at all times the case. In case you look on Southwest and also you have a look at the money charge, it is at all times going to be much like the factors charge being 1.4 cents. You at all times know when reserving with a model like Southwest the precise worth of reserving on factors.

Sean: OK, and that is why we depend on folks such as you to dig into all of those numerous level values and do the Nerdy analysis. However that brings me to my subsequent query. When it got here time to ebook your flights, what was your thought course of like there? I assume you relied on factors once more.

Sally: Sure, and you may inform Southwest was on my thoughts, Sean, as a result of I flew Southwest to get there. I do like Southwest as a result of they make it very easy. And I am certain you are sitting there listening to me, speaking about all these greenback values, and you are like, “Yo, that is disturbing. I do not wish to take into consideration $475 and $1,250.” However the good factor about Southwest is their factors are simply so simple and straightforward. Nonetheless, there are different explanation why I really like Southwest. One, they’ve a brilliant simple change and cancellation coverage, particularly now with COVID the place if there is a surge, there’s not a surge, there is a mandate, there’s not — I need to have the ability to change my flights and never fear about it.

Sally: However even COVID apart, particularly with one thing like a weightlifting meet or no matter your sports activities meets are, typically they do not launch the schedule for once you’re competing till a pair days out, so that you may want to vary your flight simply due to the schedule. I really like how versatile they’re.

Sally: The opposite factor is that Southwest has this superior factor that you would be able to earn referred to as a Southwest Companion Move, which is basically a purchase one, get one free airfare deal. If in case you have it, then you definitely ebook one journey like regular, after which your companion solely has to pay taxes and charges, which on this case was simply $11.20.

Sally: We truly earned this by way of incomes factors by way of a Southwest bank card, both by way of a sign-up bonus or by spending. In case you spend sufficient factors, you possibly can truly get a Companion Move. That was superior, as a result of flights between Oakland, the place we flew out of, and Albuquerque would’ve value $250 spherical journey every.

Sean: However you bought them coated.

Sally: Precisely. My boyfriend went with me, he paid the taxes and charges, after which I paid $250. Principally, we acquired the flights for about $260 for every of us to get on the market.

Sean: The parents who weren’t utilizing factors, it might’ve mainly been $500 as a result of it was you and your boyfriend touring collectively.

Sally: Proper, proper, precisely.

Sally: Principally, a half-price deal.

Sean: How lengthy did it take you to rack up the entire factors that you simply ended up utilizing to journey?

Sally: What’s good is these sorts of factors do not essentially require you to only spend a ton. Take into consideration the individuals who have 5 million factors, and you are like, do they simply spend cash on a regular basis?

Sally: I hope that is relieving, however I am tremendous frugal and do not spend a ton of cash. The trick is to reap the benefits of bank card sign-up bonuses.

Sally: Loads of bank cards will say, “Get this many factors when you spend this sum of money in a specific amount of months.” Usually, the edge is basically excessive. It’s going to be like, “You must spend $5,000 in three months,” which isn’t one thing that I’d often do, so it is vital to time your bank card functions round two issues:

One, when you are going to be doing plenty of spending. If you’re happening a visit and that is a giant expense, or perhaps it’s a must to pay tuition for one thing and you may spend in your bank card, then I’d positively cost it to that. The opposite factor you wish to time is when bank cards provide extra-special sign-up bonus presents. Usually the sign-up bonus may be, say, 50,000 factors, and for this month it is 80,000 factors. Attempt to time your utility round that, and that is an effective way to earn a windfall of factors tremendous rapidly.

Sean: I’ve a query round various kinds of journey bank cards, as a result of once I moved from the Bay Space as much as the Pacific Northwest, Southwest grew to become lots much less dependable to make use of as a result of it is simply not a hotspot the way in which that the Bay Space is. PDX, the airport close by, is a lot better for flying Alaska. My accomplice had a Southwest card for a very long time, ended up switching over to Alaska. I ended up truly doing a product switch for my journey bank card in 2020, and now I haven’t got a journey bank card. I am starting to go searching and suppose, OK, do I wish to get one which’s simply by way of a financial institution, or do I wish to get one by way of an airline? You’ve each, so how do you consider that?

Sally: That is such a superb level, is when you reside in a spot that Southwest does not fly out of, then you definitely in all probability do not wish to have a Southwest bank card.

Sally: BaghdadTime charges the very best journey bank cards and we charge the very best journey loyalty applications. Proper now, Alaska is our No. 1-rated journey loyalty program, so that you’re in luck when you reside within the Pacific Northwest.

Sally: That is superior. Nevertheless it does not do you a complete lot of excellent to join an Alaska bank card when you reside in, say, St. Louis, Missouri. In that case, it is OK. Join the bank card or apply for the bank card that’s related to the airport you reside in. In case you reside in a Delta hub, then that is in all probability going to be good for you.

Sally: The brand-specific bank cards can provide you numerous higher advantages. The Southwest bank card that I’ve offers me free in-flight Wi-Fi, which is simply good to have. Then once more, you possibly can have only a basic journey bank card, and these are simply issued by a giant financial institution. These can usually be nice as a result of they’re extra versatile. They can help you switch your factors to numerous loyalty companions, and it makes it simply a lot extra versatile.

Sean: Now we have coated that you’ve got flown to New Mexico without cost, you’re staying there without cost, primarily. Now I wish to hear about your precise expertise being in Albuquerque, your time there. How did you strategy saving cash over the 5 days that you simply have been within the metropolis?

Sally: Touring at all times comes with all these little nitty-gritty bills that you simply did not anticipate. There’s going to be rideshares, getting between the airport and the venue and the resort, and all that. You bought to pay for meals. Meals is at all times a giant one. Fortunately for me, weightlifting is a weight class-based sport, and so I prefer to pack my very own meals. At the very least for the primary couple days, I used to be in a position to save cash by packing my very own meals. However the actuality is I’d advocate anybody a minimum of pack meals in some capability.

Sally: Definitely benefit from the meals of the place that you simply’re visiting. In case you’re in New Mexico, get the New Mexican meals, get these inexperienced chiles. Undoubtedly consuming out is nearly at all times an enormous a part of journey. However there’s so many occasions the place I discover myself simply working to a restaurant to get a mediocre sandwich that is sitting within the case for a day.

Sally: You actually do not wish to do this. I at all times advocate packing jerky, in order that approach you’ve got a superb protein possibility, a protein bar, one thing like that, so you do not find yourself paying $15 for the sandwich that is been sitting beneath a warmth lamp for some time.

Sean: Yeah, it does not sound very appetizing. I imply, I am a giant fan of going to a grocery retailer close by the resort I am staying in and stocking up on snacks there. As a result of that approach, once I do need somewhat snack, I haven’t got to expire and pay 15 bucks for a nasty sandwich. I can simply seize what I’ve in my resort room.

Sally: Such a good suggestion. I at all times see folks spending $6 on a yogurt within the resort cafe. I am like, ugh, there is a grocery retailer two blocks away that has yogurt for $1.

Sally: In case you’re strolling by, it is virtually at all times value it to only decide up one thing like that to have it in your room, so in a rage of starvation you are not spending $6 on resort yogurt.

Sean: Yeah. You are not going to be making your greatest monetary choices when you’re very hungry. That is only a common reality proper there.

Sally: If anybody takes away something from this podcast, that is it.

Sean: Yeah. Do not make huge monetary choices whereas hungry. You’ll in all probability remorse it afterward.

We have heard about how you bought there, the place you stayed, the way you saved some cash all through your journey. Now I would like to listen to in regards to the meet. I would like to listen to in regards to the weight you lifted. Inform me about the way it went.

Sally: The meet was nice. I used to be effectively fed, I used to be effectively rested. Due to all of that, I ended up getting third in snatch, which is among the lifts. I ended up getting first in clear and jerk, after which I ended up getting third place general. It was truly my first time medaling on the nationwide degree, in order that was tremendous thrilling. I am actually pleased with the way it went.

Sean: Congrats. How cool.

Sean: Effectively, Sally, I’d love to listen to your takeaway ideas to your journey.

Sally: My No. 1 is pay for [fixed date and destination, hobby-related] compulsory journey with factors. It at all times appears so wanderlust-y to wish to pay for these huge glamorous journeys with factors. However I feel these extracurricular-related journeys are those which are unavoidable and annoyingly costly. In case you pay for them with factors, it utterly removes that burden.

Sally: No. 2 is I’d positively advocate in search of resort and basic journey bank cards which have these sign-up bonuses. You do not have to essentially do a ton of spending to earn rewards, you simply need to earn these sign-up bonuses, they usually can usually be sufficient to cowl a multi-night keep. My third piece of recommendation can be do not worry annual payment bank cards. The financial savings by way of their advantages usually far outweighs the payment.

Sean: Sally, thanks for sharing your Journey Diary with us.

Sally: Sean, thanks for having me. Subsequent time we’re collectively, we positively ought to go work out collectively.

Sean: I’d love to try this, however let’s not arm wrestle. I feel you may pulverize me.

Sally: Sure, I am into it. Problem, I assume, not accepted.

Sally: That is all we’ve got for this episode. Do you’ve got journey or cash questions of your individual? Flip to the Nerds, and name or textual content us your questions at (901) 730-6373, that is (901) 730-NERD. You too can e-mail us at [email protected] Additionally, go to nerdwallet.com/podcast for more information on this episode, and keep in mind to subscribe, charge and evaluation us for wherever you are getting this podcast.

Sean: Right here is our temporary disclaimer, thoughtfully crafted by BaghdadTime’s authorized workforce. Your questions are answered by educated and gifted finance writers, however we aren’t monetary or funding advisors. This Nerdy data is supplied for basic academic and leisure functions, and should not apply to your particular circumstances.

Sally: With that mentioned, till subsequent time, flip to the Nerds.

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