A lot of times you’ll have to do some basic math in travel hacking to calculate how much your spending per mile. Maybe you’re doing a mileage run and you want to see if it’s a good deal? Whatever your reason may be, the math is pretty simple to determine the cost of each mile you fly to get to your destination!
How to calculate the cost per mile when you fly
Let’s say you’re flying 3,000 miles round-trip. You purchased your ticket for $400. To calculate the cost per mile, you need to take the price and divide it by the number of miles flown.
Math equation: 400 / 3,000 = 0.1333333.
For this airline ticket, you’re spending just over 13 cents per mile flown.
If you’re looking to do a mileage run, I would say try and keep it 4.9 cents or less.
How to calculate the cost on an award ticket
Let’s say you need to book a last minute flight and the cost is $900 for a 3,000 mile round-trip ticket. The cost per mile would be 30 cents. Ouch! That’s a big chunk of change to spend. If you decide to use airline miles to book your ticket for free, then you’re getting an excellent redemption rate!
Take the cost of the ticket, $900 and divide it by the number of miles it takes to fly there, 25,000.
Math equation: 900 / 25,000 = 0.036.
That’s less than 4 cents per mile. A savings of 26.4 cents per mile!
This is why I pay for tickets out of pocket if they cost less than $400. When you book your award tickets, make sure you’re getting a good redemption rate! The more the ticket costs, the better deal you’re getting when you use miles to book your ticket for free!