At this time of year, everyone seems to be getting preoccupied with booking their summer holidays. Now, don't get me wrong, we ALL need something to look forward to. It is cold, damp and gloomy and we are all feeling flat after Christmas. However, should we be spending even MORE money straight after the festive season on so-called 'bargain holiday offers' or is there a savvier time to be booking our holidays? Could we in fact be saving hundreds of pounds by waiting? Well, the answer is a resounding YES! In fact, travel search site Skyscanner has revealed that the 12.5 million Brits predicted to book their summer flights this month may not actually be getting the best prices...
Skyscanner's analysis of nearly 200 million searches (now that is robust data!) shows that the cheapest flight tickets are in fact typically available five weeks in advance of travel.
However, it can vary HUGELY between destinations...
Average return flight price for summer is £153
Best time to book is 5 weeks
Average return flight price for summer is £764
Best time to book is 21 weeks
Average return flight price for summer is £185
Best time to book is 6 weeks
Average return flight price for summer is £160
Best time to book is 6 weeks
Average return flight price for summer is £228
Best time to book is 3 weeks
Average return flight price for summer is £256
Best time to book is 13 weeks
Average return flight price for summer is £195
Best time to book is 5 weeks
Although waiting until a few weeks before appeals to some people, a massive 40% of people still like to book well in advance but don't worry, this can sometimes pay off. There are no guarantees so it is important to research prices and track fares for your chosen route by signing up for price alerts, allowing you to see when low fares become available. The Skyscanner price alert saved me £650 this week on flights to South Africa at Easter!
However, waiting doesn't always pay off. In the case of trains, booking in advance is ALWAYS cheaper! The optimum time to book a train ticket is 12 weeks BEFORE travel. To put it into context for you, last Friday the 24th was 12 weeks before Good Friday. If people wanted to travel from London Euston to Manchester Piccadilly, tickets booked in advance cost £12.50 for an advance single compared to an on the day single ticket which would cost £160 - a MASSIVE 92% saving!
Some GREAT NEWS though, if you need to book last minute then National Express buses are a great option. Their cheapest fares are often available even if you are booking for the next day. To find the cheapest deals look at the website for their low fare finder. I found London to Manchester for £4.99 one way for most days between now and the end of April. Exceptional value!
However, if you want to take a gamble, Megabus currently has a free seat sale until 20th February where you type in the route you want and you just might get your ticket for FREE!
To find out more about the best time to book travel, read my 1 minute guide on LetsSaveSomeMoney
Top 12 Hottest Travel Spots For 2014
Nicaragua(01 of12)
Open Image ModalSafe and welcoming, this Central American country offers delights like hundreds of small tropical islets with sandy cove beaches, rolling hills with cloud forests, colonial towns with churches and museums, and new accommodations. (credit:AP)
Brazil(02 of12)
Open Image ModalThe largest country in South America, Brazil is vast and varied, boasting destinations like historic Salvador, Manaus (the gateway to the Amazon), Buzios (Brazil's version of the Cote d'Azur), and fiery Rio de Janeiro. (credit:PA)
Ecuador(03 of12)
Open Image ModalThe second-smallest country in South America, Ecuador has massive appeal, both as an affordable destination and as a paradise for nature lovers (think Amazonian rainforest, snow-capped Andes, Galapagos Islands), with plenty of restaurants, historic sites, and accommodation options. (credit:RM)
Mexico City(04 of12)
Open Image ModalMexico's capital city will delight with its fascinating architecture, vast collection of museums, exceptional restaurants, and more than 300 neighborhoods (orcolonias). Combine a stay here with the back-to-nature attractions of up-and-coming Riviera Nayarit on the Pacific Coast, for a combo city and seaside escapes. (credit:RM)
Canouan Island(05 of12)
Open Image ModalThis year, the Caribbean island of Canouan begins improvement projects costing more than $11 million, including a new ring road, commercial jetty, and community wharf. These will improve the sleepy island's infrastructure, but they'll also attract more travelers, so visit soon! (credit:RF)
South Korea(06 of12)
Open Image ModalUnlike its East Asian neighbour to the north, South Korea is quite hospitable, offering a fascinating blend of old-world tradition and high-tech futurism. In addition, "The Korean Wave," or hallyu, has popularised South Korea's music, culture, and food -- experience it all at the source. (credit:RF)
Norway(07 of12)
Open Image ModalRiding a wave of popularity inspired by Disney's animated film, Frozen, this Scandinavian country shares an inviting and unique Viking heritage. A most enchanting way to experience Norway is with a cruise along its coast. (credit:RF)
Moscow(08 of12)
Open Image ModalAs the host of the 2014 Winter Olympics, all eyes are on Russia. This Eastern European/North Asian country continues to fascinate travellers, making it ideal for land-based vacations. (credit:RF)
South Africa(09 of12)
Open Image ModalThe world glimpsed the heart of South Africa's people after the recent death of President Nelson Mandela. Experience this warmth for yourself, as well as the country's diversity: safaris to whale-watching, fine dining to wine tastings, and Cape Town city to natural wonders like Victoria Falls. (credit:RF)
Croatia(10 of12)
Open Image ModalThis Eastern European country offers modern delights like sport fishing and golfing as well as authentic glimpses of the past, especially along Croatia's famed Dalmatian Coast. Choose from a plethora of private villa rentals and live like a local. (credit:RF)
Scotland(11 of12)
Open Image ModalIn 2014, Scotland is hosting the Year of the Homecoming, the Ryder Cup, and the 2014 Commonwealth Games.Enjoy the best of Scottish tourism by renting a cottage, staying in a country home, or getting pampered at a luxury retreat. (credit:RF)
Vancouver(12 of12)
Open Image ModalThis vibrant city on Canada's west coast is easy to get around and get to know. Plus, Vancouver has a long list of great things to do, from outdoor recreation to great restaurants. (credit:RF)