Flying isn’t cheap in 2023. In fact, the average flight costs around 20% more compared to just a year ago. Increased demand and fewer flights have combined to put the squeeze on vacation budgets. And while airline and credit card rewards can help, it still pays to be cautious when booking a flight.
Recently, tech giant Google’s “Google Flights” division examined data for airfare over a period of five years, and it yielded some interesting results. As it turns out, when you book your flight can make a big difference, or maybe no difference at all.
The Cheapest Days to Fly
Most of us are aware that it’s typically cheaper to fly during the week than it is on weekends, and Google’s data confirms this. They found that weekday flights are up to 20% cheaper than weekend flights on average, with Sunday usually being the most expensive day. So, book your flying days during the week for your next vacation if you want the best deal possible.
What Day Should You Buy Airline Tickets?
There has been a longstanding belief that the best deals on airfare are available early in the week. The thinking was that airlines would look at their sales from the previous weekend and adjust their prices for the upcoming week accordingly, with Tuesday being the ideal day to buy tickets. But is this true?
As it turns out, not really. Google’s study confirmed less than a 2% difference in airfare prices for tickets purchased at the beginning and end of the week. While airlines may have once adjusted fares at the beginning of the week, in the modern world of online purchasing, prices are adjusted constantly. So, book your ticket on whatever day is most convenient for you.
How Early Should You Book Your Flight?
Generally, it’s a good idea to book your flight fairly far ahead of time. How far ahead? That depends on when you’re traveling. According to the data:
- For spring trips – Book your flight between 59 and 23 days prior to departure for trips in March or April. The lowest prices are available an average of 38 days before takeoff.
- For summer trips – If you’re taking the a traditional summer vacation in July or August, look into flights 44 to 14 days before you go. Exactly three weeks before departure is when average ticket prices drop the most.
- For winter holidays – You should look into booking a flight anywhere from 36 to 74 days in advance if you’re traveling in November or December, with the cheapest flights being around 22 days out.
Other Ways to Save on Trip Costs
- Don’t fly direct – Flights that include a layover are around 20% cheaper than nonstop flights on average.
- Buy travel insurance – If you’re a US resident traveling domestically or internationally, look into a trip cancellation insurance plan. This way, if you have to cancel your trip for a covered reason, you won’t be stuck paying for airfare and hotels.
- Buy travel health insurance – Those traveling abroad should look into travel medical insurance. If you get sick or injured in a foreign country where your health insurance isn’t accepted, a travel medical insurance plan can help you pay for treatment.
- Traveling to the US from another country? Look into visitors medical insurance.