How do you decide when to use points vs pay cash? I’m staring at a flight where the points value is “okay” but not amazing, and I can’t tell if I should hoard for a bigger redemption later. What’s your rule of thumb for when it’s worth burning points?

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Like 5 cents a point. I've gotten way more on long haul biz, I usually save for those where I really want to be able to sleep.

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This conversation isn't worth typing that much to do it myself. I'm was explaining how you're correct in economic theory but I'm right in the way any normal person thinks about and uses points.
Also, I immediately discredit ppl who discredit using AI, always use the tools available to you

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Generally if it's above like 2 cpp you're good, unless you have a specific redemption coming up that you're saving for. Like I said in the other comment, there's really no such thing as a redemption better than 2.5~ cpp given you can just buy points if it came down to it.

That said, it also depends on how many points you're earning, what programs, travel plans, and flexibility. Someone who churns multiple bonuses every year or is able to MS a solid amount doesn't have to get the best value on every redemption. Churn and burn imo.

Because I'm both cheap and get tired of points devaluation, I use the points more often than not, regardless of the current value

Due to my work now, I only travel during holidays. I will redeem my points if I am able to get a 1.5 cpp value. My schedule also changes last minute so I like the flexibility of being able to cancel like last minute by booking with points.

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