David Do, a 33-year-old social worker from Florida, is on a thrilling roller coaster ride in travel hacking since 2017. In the process, he’s learned how to easily earn over 1 million credit card points for free. As of today, he is sitting on nearly 370,000 points. He hopes to realize his lofty dream of visiting 35 countries by age 35. With visits to 33 different countries and counting, his service truly stands out as globally-minded. All the while, he’s been able to proof up his own stable financial existence.
By working remotely, Do reduces projected salary costs to $78,000 per year. His promise is evident in his financial stability and recent home ownership. In 2021, he purchased a two-bedroom, two-bathroom townhouse for $182,000 with a down payment as low as 3%. On top of that, he’s sitting on a mortgage rate just a touch above 3%. This 2.875% rate locks in his monthly housing payment at a little over $1,700. On top of that, his utilities cost him $156 more per month.
Do’s cost of living is the biggest portion of his budget. So far, that has led him to save nearly $250,000. This sum is allocated between many different types of accounts, such as employer-sponsored retirement accounts and taxable brokerage accounts. His financial habits are grounded in a modest, Midwestern childhood.
My parents were really, really cheap on things, Do said, reflecting on his childhood. The same went for dining out and what to spend money on. Or if we wanted a change, they were the first ones to say, ‘Oh no, we can’t afford that at this time.
Do also runs a huge credit card portfolio with nearly 30 active cards. That’s not how he wants to use technology to keep track of them. Instead, as he tells it, he relies on his memory and his own personal tricks for keeping track of his money. For anyone who does practice travel hacking, kind of like I do, they’ve got the Excel sheet situation down pat. I haven’t touched an Excel sheet ever,” he said.
“Truthfully, I just go by memory and just be like, ‘Oh, yeah, I did apply for this card last year. So let me just keep a timeline of when the annual fee is due or when this credit card statement is due,’” he added.
His philosophy on finding credit card points is all about timing and tactics. He most definitely spends to match the bonuses that various cards put out. “It really just depends on what month it is because each credit card’s points have… you get extra cash back on the category, like, let’s say, for example, groceries or gas,” Do stated.
He times his credit card spending with large purchases. “I know if I have a big expense coming up, let’s say tuition or car insurance, or a big quarterly tax I need to pay, then I’ll try to time it accordingly with one of the credit cards that offers a big sign-up bonus,” he explained.
While Do pursues his travel ambitions and stays on the track to pay off his student debt, he’s committed to both saving for retirement and living life today. “My goal right now is to contribute as much as I can to retirement but trying to live a fulfilling life,” he said.
His fiscal conservatism has paid off beyond the bank account. David Do Save for the future With an eye toward what’s to come, David keeps his spending and savings intentional. In doing so, he inspires young professionals to pursue their travel dreams without sacrificing their financial future.