I have a supply of points for emergencies on my travel rewards credit card so I can go anywhere on a moment's notice

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• Over a decade ago, I had to take an unexpected, costly trip to get to a funeral.
• Now I keep a large supply of airline points on hand so I can afford to travel anywhere in an emergency.
• My travel rewards credit card earns me points on every purchase that help keep those points replenished.

On December 23, 2014, I learned that my grandfather had suddenly died.

My husband had recently graduated from college and accepted his first professional position in Texas — over 1,000 miles away from my family. Being fresh out of college and just after a cross-country move, our budget for last-minute flights, especially during Christmas, was zero. My family brainstormed which method would be most cost-effective for getting my family and me to Utah in time for the funeral.

Ultimately, it was the kindness of a family friend, who lent us his large four-wheel drive vehicle and his gas card, that allowed us to make the trip to Utah. It was a true act of heroism that I've never forgotten. We drove 24 hours straight through the mountains and snow, arriving in time for the funeral and to say goodbye to my beloved grandpa.

That experience changed how I manage my money, including keeping multiple emergency funds.

I have a separate emergency fund in a bank account, but I also keep a large amount of Southwest points at all times for emergency flights. Unlike a cash emergency account, my airline points aren't useful for broken household appliances, car repairs, or surprise medical bills.

This emergency fund operates similarly to a sinking fund in my household. While we occasionally use the points for leisure trips or family vacations, we make sure to keep a high balance, usually between 50,000 and 100,000 points at all times — and for good reason.

Southwest points are flexible

Southwest points don't expire, which means I don't have to worry about using my points this month or this year. Similar to a bank account, I'm able to earn and store my points until I'm ready to use them.

When you purchase a flight using Southwest points, you can cancel the flight up to 10 minutes before the scheduled departure time and get all of your points. This is particularly helpful when you are dealing with delicate situations like the birth of a baby or when plans change quickly.

Flights purchased with cash can be changed but usually for a fee. Sometimes you only receive a flight credit, not an actual refund. When you buy a flight with points, you can simply cancel it and the points will be credited back to your account.

I can use points without having to dip into my cash emergency fund

When you get notice of a death or medical emergency, the last thing you want to have to worry about is money. But traveling, especially with little notice, can be expensive. Hotels, rental cars, and food costs add up quickly. Since I don't have to use my cash reserves to pay for my flight, my costs are significantly reduced. I can focus on my family member or friend who I am there to support, rather than worrying about the cost of everything.

Also, there have been times when my cash emergency fund has been depleted quickly for other things, leaving me with low funds. Once, we had $2,400 worth of car repairs in 24 hours. If an emergency popped up where I needed to travel and I didn't have my points reserve, I would've been much more worried about traveling at the last minute.

I can use them 365 days a year — no blackout dates

Last Christmas, my sister got devastating news that her mother-in-law had died in the early morning hours. Her husband was able to get a standby ticket from a friend who worked for an airline, but purchasing a flight for her across the country — from Utah to New York — would've been a huge expense.

Thankfully, my Southwest points balance was over 100,000. I purchased her a ticket, and she was able to fly out the next day to be with her husband and his family without costing me or her much of anything. (Yes, we still had to pay the government fees of $11.20 per flight, but the actual flight cost was $0.)

I can use my Southwest credit card and the shopping portal to earn points quickly

I've had my Southwest credit card since 2014 when my grandfather died, and I use it regularly to earn points. On top of earning points for every dollar I spend on my credit card, Southwest offers a shopping portal where I can earn even more points.

The portal works like a rebate site, similar to Rakuten or TopCashBack, but instead of a cash back percentage, you earn additional points for online purchases. This strategy of combining my Southwest credit card with the shopping portal helps me earn points quickly just by my normal purchasing habits.

As long as I'm paying my credit card off each month, I'm earning points toward free flights every month.