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Video: https://youtu.be/84WIaK3bl_s
Reading: Airfare hacks: 5 ways to fly for less
2. Manufactured spending
Airline fares often seem random, but Roy Quest is on a mission to discover the truth behind
airfares. What is it? Blogger Alex Bachuwa has developed a method of earning air miles without
actually flying them. "I just apply for a lot of credit cards and I get a lot of points, and I use those
points to go wherever I want to go. The banks have promotions on new products all the time. They
offer 50,000, 100,000, 150,000 points promotions. They have a minimum amount you have to
spend and once you spend that amount, the points go on your account and it's time to start looking
for flights." But as those minimum spends are far higher than the average person's daily expenses,
Bachuwa racks in the points through "manufactured spending." How does it work? First get a
credit card with rewards. Then buy a gift card and use the gift card to purchase a money order. You
deposit the money order into your bank account and then use it to pay off the credit card. "It's a way
to spend without spending." Not to mention that it's seriously risky: Slip up in your calculations and
you could get caught in spiraling debts.
Vocabulary