travel
Never leave money on the table. This is your shortcut to upgrading your life, money and travel—all while spending less and saving more. Get tactical moves and deep dives into designing a life you’re excited about. Host Chris Hutchins is a life hacker who has saved millions by breaking down every aspect of life and looking to maximize happiness at the lowest cost. Chris and guests like Tim Ferriss, Tony Hawk, Codie Sanchez and Gary Vaynerchuk are here to deliver smart strategies you can plug into your own life—from a money hack that increases your net worth, to a routine change that boosts your productivity.
Brad Barrett and Chris discuss the lasting impact of Bill Perkins' "Die With Zero" concept, four years after an initial episode. Barrett explains how the book's ideas on "seasons of life" and "time-budgeting" have influenced his perspective on prioritizing experiences and people over mere accumulation.
Chris reflects on his personal experience after listening to Bill Perkins' "Die With Zero" concept, admitting he was previously focused on endless accumulation. He realized he was making irrational decisions, prioritizing optimization over valuable time with his family, which prompted a re-evaluation of his goals.
Brad Barrett acknowledges the importance of frugality in the initial stages of pursuing financial independence, as it provides freedom and options. However, he suggests that once financial independence is reached, frugality becomes more of a spectrum, and one should be intentional about how they spend their time and with whom.
Brad Barrett shared that his daughter recently graduated high school and is preparing to go to college, a milestone that, combined with reflecting on Tim Urban's 'The Tail End' article, has made him acutely aware of how quickly time passes. This realization reinforces the importance of being intentional with how his time is spent and with whom.
The host discusses whether credit card points and miles are still worthwhile given increasing annual fees, coupon book-like card benefits, and devalued award programs. He argues that for many, points cards still offer better value than cashback, even when used simply to reimburse travel expenses at a 1 cent per point rate.
In response to concerns about high annual fees and "coupon book" benefits on premium cards, the host highlights several cards with lower annual fees ($0-$150) that offer good point-earning potential. Examples include the Citi Strata Premier, Chase Sapphire Preferred, Wells Fargo Autograph, and Capital One Venture.
The host notes a significant increase in award travel availability across various classes and destinations this summer. This abundance of award space, with redemption values ranging from 1.5 to 5 cents per point, makes points significantly more valuable than cashback.
Despite a noted devaluation in Hyatt points, the host reports that the actual value reduction is only around 8-12%. He contrasts this with soaring hotel cash prices, which have increased significantly more, suggesting that even devalued points can still offer good value.
For those who prefer simplicity, cashback cards are presented as a viable option. However, the host points out that many cashback cards lack the travel protections often found on points cards. He also notes that some cashback cards offering over 2% have had their requirements increased or are tied to large bank balances.
The Navy Federal Flagship card is highlighted as an interesting cashback option for those who qualify for membership. It offers 3% back on travel and 2% on everything else for a $49 annual fee, making it a strong contender in the cashback space.
The Capital One Venture Rewards card offers a $100 statement credit for Global Entry or TSA PreCheck, effectively offsetting its $95 annual fee for those who use the service. The card also allows for valuable point transfers to airline and hotel partners, offering redemption rates far exceeding 1 cent per point.
The Bank of America Premium Rewards Elite card, which previously offered significant cashback rates (2.625% on everything, 3.5% on travel/dining) for those with a $100,000+ balance in BofA/Merrill Lynch accounts, has increased this threshold to $1 million. While still offering a 50% boost at the $100,000 level (2.25% on everything, 3% on travel/dining), this change makes the top-tier benefits inaccessible to most.