I dive into the Southwest Companion Pass, a travel hack I’m currently using that offers huge savings for frequent travelers. The pass allows you to bring a companion along on any Southwest flight for just the cost of taxes, making it an incredible deal if you often fly with someone. To earn the pass, you need 135,000 qualifying points, which can be done efficiently through Southwest credit cards and carefully timing your spending to hit signup bonuses early in the year. I stress the importance of tracking expenses diligently to maximize the two-year eligibility period, ensuring you get the most value out of the pass. For me, the potential savings—$4,000 to $6,000 in travel value over two years—makes this a no-brainer, especially if you’re a responsible credit card user or a business owner. I also share tips for maintaining the pass long-term, like alternating eligibility with a spouse. If you fly Southwest frequently, this is an easy way to make your travel budget go much further.

Key Takeaways:

• The Companion Pass allows you to bring a companion on any Southwest flight for just the cost of taxes.

• Earning the pass early in the calendar year maximizes its value because it’s valid for the rest of that year and the entire following year. Aim to hit qualifying thresholds in January.

• The strategy only works if you pay off balances in full each month to avoid interest. Carrying debt undermines the benefits of the Companion Pass.

• You can requalify for the pass after 24 months by canceling your Southwest cards and reapplying. Many couples alternate who earns the pass to extend the benefit indefinitely.

• This hack is especially valuable for frequent travelers, those who live near Southwest hubs, and business owners or side giggers who can easily meet spending requirements.

Key Timestamps:

(00:00) - Introduction and Personal Hack

(00:25) - Understanding the Southwest Companion Pass

(01:29) - Steps to Earn the Companion Pass

(07:03) - Maximizing the Companion Pass Benefits

(10:28) - Conclusion and Final Thoughts

(11:28) - Additional Resources and Farewell

Key Topics Discussed:

BLUF Veteran Finance Podcast, Military Finance, Veteran Financial Planning, Military Money Management, VA Benefits, Military Retirement Planning, Financial Literacy for Soldiers, Military Budgeting Tips, Debt Management for Service Members, VA Loans, Military Investment Strategies, Saving for Deployment, Thrift Savings Plan (TSP), Transitioning to Civilian Life, Military Tax Benefits, Financial Independence for Veterans, Military Money Manual, The Military Money Show

Mentions:

Companion Pass information: https://www.southwest.com/rapid-rewards/tiers/companion-pass/

Chase Southwest Rapid Rewards Performance Business Card: https://www.referyourchasecard.com/226o/JUSTZTPE0R

More of Baskin Financial Planning:

Download the Ultimate Military Finance Checklist⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠, with 7 pages of critical things to be thinking about to clarify your journey to financial freedom.

Think you might need some financial help? ⁠⁠⁠⁠⁠Book an intro call with me to see if we would be a mutual fit.

Questions or comments, drop me a note at: erik@baskinfp.com

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