Budgeting on the Fly: Get the Most From Your Miles

As the economy continues on its rollercoaster ride and gas prices remain at record highs, airlines are looking for ways to save money. Increasing the amount of frequent flyer miles required for a free trip is just one of many recent hurdles consumers face when booking flights.

The good news is, many mileage programs allow their members to use points for more than simply purchasing flights. Most of the programs allow points to be used for upgrades, rental cars, hotels, and select merchandise as well as for donations.
Here’s a look at some of the nation’s most popular mileage programs:

American Airlines (Stock Quote: AMR): AAdvantage

Upgrades- Passengers on American Airlines and other oneworld airlines can use miles to upgrade previously purchased tickets. Upgrade an economy ticket within the U.S. for 5,000 miles, or go from business class to first class on a domestic flight for 15,000 miles.

Rental Cars- AAdvantage members can put miles towards a number of car rentals at Alamo, Avis, Budget and National. At Alamo deals include a two-day weekday rental of a midsize or full-size car for 10,000 miles, or a three-day weekend SUV rental for 17,500 miles. Avis offers a free day rental of a compact or midsize car for 8,000 miles and a free day rental for premium cars, standard SUVs, mini vans or convertibles for 9,500 miles. Budget has a free day for compact cars for 7,000 miles, a free day for midsize cars for 7,500, and a free day for full-size, premium, standard SUV, mini van and convertible cars for 8,000 miles. And, National’s deals include a two-day mid or full-size weekday rental for 12,000 miles and a three-day weekend SUV rental for 19,000 miles.