@huggers Welcome to AFF! Just keep asking questions, and the thousands of experts here will be able to lend you a hand.
Collecting points and spending them are two very different skills, in a way. I recommend subscribing to the AFF podcast, and looking through the articles on redeeming points
100% recommend both of these, although the AFF podcast is unfortunately on hiatus at the moment, so not as much point subscribing. However, it's fantastic for in the car, while cooking, on a run or even in the shower
In terms of articles, you may want to look at these three:
New to Virgin Australia's Velocity Frequent Flyer program? Learn how to earn & redeem Velocity points, and all about Velocity status tiers!
www.australianfrequentflyer.com.au
New to the Qantas Frequent Flyer program? This guide will help get you started on your journey to free flights, upgrades and status!
www.australianfrequentflyer.com.au
Also, you can sign up for Frequent Flyer Solutions' free membership (
Home - Frequent Flyer Solutions), and have a look at the first unit in the courses offered. To access all the courses you have to pay a fee. I can't say if the paid membership is worth it or not as I write for AFF, but for what it's worth Matt (the editor of AFF and writer of the vast majority of articles/courses) is fantastic, and knows a lot of what he's talking about. I'm sure there are others here that have paid the membership fee that can tell you their thoughts.
Basically, before you get started, try and get a feel of how the points game works. Get an idea of what you want to be doing with your points, and how that aligns with the realities of the points game. Honestly, while you might want to start with Velocity (sounds like you're pretty set there) you should always be thinking about how to diversify, as you don't want to get caught out if something changes (which it can at any time!). Although if you don't think you'll spend too long in Australia then don't worry about this too much.