When To Travel To Maximize Your Savings

You want to take a trip, but you do not want to spend a fortune on airfare. Widespread assumption tells you that booking a flight for a Monday in the future is the most cost-effective solution, but is that what the research says? No.

Many people schedule travel plans around outdated studies or assumptions not rooted in fact. If you want to save many for this year's summer vacation or the next holiday season, it is necessary to look at the facts.

Don't leave everything up to chance if you want to save the most money when you travel. Follow a few simple guidelines to fit your next trip nicely in your budget.

Sunday Is the Most Cost-Effective Day of the Week

People assume Monday is the cheapest day to travel and that Friday or Saturday is the most expensive. What is surprising is Friday is often cheaper to travel on than Monday, but neither is the cheapest day of the week to schedule a flight.

Sunday is the most cost-effective day to travel. Research suggests traveling on Sunday can save up to 5% on domestic travel and 10% for international flights.

Planning your trip on Sunday can also boost your mood. Research suggests that Sundays can lead to some anxiety because of the end of the weekend. However, according to studies, just planning a trip can boost happiness levels and reduce stress.

Months Ahead Is Better Than Weeks or Days

While Sunday is the best day to purchase an airline ticket, you can save more money the further out your plan. Purchasing a ticket months in advance is likely less expensive than buying it weeks or days early.

Flight prices tend to get more expensive the closer the departure date gets. You can lock in savings and shore up your plans with family, friends, and work by planning early. Sometimes, you will not have a choice but to fly out quickly, but anytime you can allow yourself more time, it is typically for the best.

January Is a Safe Bet

If you are looking for the best month to travel, consider January. The cold month is also the best time to book future flights.

Traveling is not very popular in mid to late winter because people are recouping from the holiday season. With more available seats, airlines decrease prices — it is the principle of supply and demand.

If you want to travel domestically, January is also the best time to take a flight. While it usually is better to plan months in advance, the lack of customers means airlines typically offer the best airfare rates immediately following the holidays.

If you are looking to travel this year, make your plans early. While the last couple of years has made advanced booking challenging, it is still the cheapest way to travel. Earlier is always better when making flight arrangements. However, if you can plan early, book smart. Choose Sunday or fly in January.

Stop focusing on assumptions, and start looking at the research. You can usually always find a way to fly cheaper.

Do you know of any other tips and tricks to reduce the costs of an airline ticket or travel? If so, leave a comment below.