One of the best parts of traveling is using rewards miles and points to reduce costs. But not all points are created equal—the value you get can vary a lot between different programs.

That’s why I like to quickly compare travel options before booking. To make this easier, I’ve put together a simple calculator that shows the value of your rewards in cents per mile (or point). It helps me decide whether redeeming points is a smart deal or if paying cash makes more sense.

Keep in mind: the value varies between programs and even between flights or hotels within the same program. A redemption that looks great in one case may not be the best use in another.

If you’re just starting out, I recommend researching online to see what’s considered a “reasonable value” for your rewards program. Having a reference point makes it much easier to know if you’re getting a good deal.