(FinancialHealth.net) – It might be a good idea to start planning the next vacation a lot sooner than later. According to a study done by CheapAir.com, booking your flight an average of 76 days in advance will increase your odds of grabbing the lowest prices.
The study analyzed over 917 million airfares and discovered travelers usually get the best deals on domestic flights if they book around 11 weeks before their trip. That’s slightly higher than last year’s study that recommended waiting until closer to 70 days.
In an attempt to simplify the search and make it less stressful to buy affordable airfare, we want to provide a quick breakdown on the best and worst times to buy plane tickets and what factors should be considered before booking a flight.
It’s All About Timing
Some important factors to consider that can affect your travel plans is your final destination, the date you are traveling, and whether you are booking an international or domestic flight. It’s also important to keep in mind that the average cost of plane tickets change all of the time.
Prime Booking Windows By Season
The time of year you plan on traveling is a major factor in getting the best deal on airfare. According to CheapAir, summer trips should be booked 99 days in advance while spring vacations should be planned at least 84 days before traveling. It’s also highly suggested that fall and winter trips be booked 69 to 94 days in advance.
The Best Day to Buy a Ticket (Myth)
The study shows that buying flights on specific days has no real savings value or price difference. What it is important is the travel day because it can have a fare difference of $85. The cheapest day to travel on is Tuesday while the most expensive day to travel on is Sunday.
Buying Too Early
When purchasing airline tickets anywhere between 203 to 319 days in advance, there will be a wider selection of airlines and travel arrangements to choose from but the price may go up around $50 more on average per ticket.
Buying Too Late
Buying last minute plane tickets can be quite costly. Airline tickets bought between 0 to 6 days can cost an average of $220 more, even when shopping around for better deals.
Let’s face it. Making travel plans can be frustrating even to the most seasoned traveler. Trying to find the best deals and knowing how far in advance to book flights can become time consuming and costly.
The best way to save money while planning the next vacation is to research and compare pricing. Monitor airfares during the “Prime Booking Window” before making any purchases, in order to help save money.
Most importantly, don’t wait until the last minute to buy or risk paying almost double the price of the airfare.
~Here’s To Your Financial Health!
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