Miles or Cash - which is 'better'?

I am in a quandry - wondering if the great and the good on here can help.

I have some flights on hold and can go one of 2 ways:-

1) Use one G, one L(upgrade to G), and one Z - 160k miles
2) Use two L (ugrade both the G's) and one Z - 120k miles

Option 1 is 416 cheaper BUT uses a net @ 50k more miles (after taking into consideration earning on the additional L - a Silver member so gets a small bonus etc).

I have given myself a headache today working on all the permutations, but have come down to these 2 options.

So ........is spending an extra 416 worth saving a net 50k miles?

TP's are not important as I wil be the Z.

My gut feel is that I should spend the extra 415, but would be interested in others views.

Spiceke

[HighFlyer]

I guess it depends how quickly you can earn back the miles? If you fly a lot or spend on the credit card then dump the miles, if you have saved a long time to get them then perhaps spending the money would be a better bet so you can put those miles towards another trip. Personally I'd probably look to pay for the tier point earning fare, but you say that isn't really important to you.

I think the answer to your question is highly dependent on your financial situation at the time and how many miles you have.

Thanks,
Sarah

I think I am going to 'dump the miles'.

HighFlyer - I will be the Z anyway so I will get the TP's, hence me saying the TP's are not important for this decision - sorry I was not as clear as I should have been. The 2 tickets I have a quandry on are for Mrs S and my daughter. I fought long and hard to achieve Au so don't want to give it up lightly !

I think it still leaves me with about 180k miles.

It's amazing - you spend all this time collecting the miles through flights and the credit card and then don't want to spend them!

I think what was also playing on my mind is that I have just shelled out just over 200k miles in addition to these, so have taken quite a hefty hit on the mileage balance.

Thanks
Spiceke

[Neil]

I would have chosen option 2 personally, but that is because it would suit our future plans better. As Sarah has said, it really does come down to various personal circumstances.

I would always use the miles first as you never know when the rules/redemption rates etc will change...