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When To Book Flights To Save Money

When To Book Flights
Allianz - When To Book Flights

Are you the type of flyer who sits in front of the computer refreshing airline sites, juggling too many open browser tabs, and creating your own spreadsheets trying to find the best deal possible? Prepare to rejoice! Mapping out your connections and purchasing tickets is enough of a headache without also stressing out about how much you could be saving by timing your purchase just right. Luckily, data is on our side, and we’re taking the guesswork out of when to book flights.

You’ll get the best use out of these strategies if you are planning ahead for a trip. But even if you’re only a couple of weeks from departure, read on, there’s still an art to figuring out when to book flights to save a bit of cash. So put down the Magic 8-Ball and pick up the knowledge we’re about to drop…

How Far In Advance Should You Book?

When you’re deciding when to book flights, the first order of business is usually determining how far in advance you should purchase tickets. Some people say that if you have strict travel days in mind you should book as far in advance as you can, as it gives you a better chance of choosing the perfect seats and departure times. Others, the risk-takers among us, encourage waiting until one to two weeks before your departure because of the potential for better deals as airlines try to fill seats.

So, which is it? Plan ahead to be safe, or take a risk and hope to snag a last-minute deal?

Annually, cheapair.com releases an airfare study and 2017’s data includes 917 million fares across almost 3 million trips. According to their analysis, on average, the best time to buy your ticket is 70 days in advance.1 By booking your flight about two months out, you avoid the premiums that go along with shopping several months in advance. You also dodge the potential price hike that sometimes occurs right before your flight, when seats become more limited.

Take note, the 70-day recommendation is only an average, and there’s a broader time frame to consider for purchasing. The “Prime Booking Window” is the period of time when you’re most likely to get the best deal, and it falls between 121 and 21 days from your departure date. Once you’re within your “Prime Booking Window,” it is a good idea to monitor the price of your flight so that when prices drop you’re confident enough to jump on the opportunity.1

Which Day Of The Week Should You Shop?

Regardless of how many weeks in advance you plan to secure your flight, there’s a bit of strategy that comes into play when choosing which weekday to sit down and click “confirm purchase.” Some experts recommend purchasing airline tickets on Tuesday afternoon or Wednesday because many airlines launch promotions on Tuesdays.2,3 Conveniently, once one airline publishes a deal, others follow suit to stay competitive. That means you likely won’t have to compromise on which airline you fly with just for a bargain.

Plan Accordingly For Holidays

Airports are notoriously swamped around holidays. Thanksgiving, the winter holidays, and New Year’s Eve are some of the busiest times to travel. We know that your wallet is probably exhausted during the gift-giving season, but don’t be tempted by a slim chance for last-minute deals on holiday flights. According to Patrick Surry, chief data scientist at Hopper, “for holidays it’s very rare to see last minute price drops.”You want to secure your flight ahead of time when you know you’ll be flying for the holidays. For Thanksgiving flights, give yourself four weeks lead time. And for Christmas or New Year’s Eve, book your flights at least eight weeks in advance.4

You can’t do much to combat the spike in airline prices for holiday travel, but you can sneak any non-holiday trips into travel windows that are known to have better deals. An easy way to think about it is to shoot for the weeks between when everyone else will be flying. Try the first couple of weeks in December; it’s a calm between the Thanksgiving and Christmas rush. Or, wait until the post-holiday flight fatigue sets in and take advantage of price drops that typically mark January and February.2 If you want to take a flight in the spring, try to avoid school spring breaks when families and college students swarm the airports for a respite. And since many people vacation during the summer, the fall makes a great time for savvy shoppers to plan their own getaway. Once school starts back up in September, you (and your bank account) can benefit from the lower demand, especially in October which is usually marked by a hefty price drop.5

Choose Less Desirable Departure Days

The variation of flight prices from day to day is a prime example of supply and demand. If you fly when other people don’t want to (or can’t), your flights will likely be cheaper. Weekends are popular travel times, but typically people catch weekend flights on Fridays and Sundays. If you have to fly on a weekend, shoot for Saturday as it’s the least sought-after weekend day for flying. Or even better, if you’re able to plan for a mid-week departure on Tuesday or Wednesday, you can save some major cash.6

Benefit From Inconvenient Flight Times

Have you ever heard anyone say, “Boy am I excited for my 6 a.m. flight tomorrow!”? (Well, to clarify, anyone not flying to Las Vegas or Honolulu). No? Neither have we. That’s because an early flight means an even earlier wake-up call. If you’re truly committed to getting a deal, flying out before the sun is up can be a great way to do that. The same goes for late-night flights and long-distance red eyes. If you’re a night-owl anyways, purchasing a less desirable ticket can lower your travel costs.

Next time you’re ready to fly, you’ll know when to book flights. It’s simple really. Plan ahead and when possible, choose to fly during the less popular times. 

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Citations
  1. TravelAndLeisure.com
  2. ChicagoTribune.com
  3. FareCompare.com
  4. DealNews.com
  5. FareCompare.com
  6. USAToday.com

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Jun 13, 2018