It's the most wonderful time of year... No, not Christmas. It's Cheap Flight Day, the one day out of the year that travelers can save up to 20 percent on flights. August 23 marks the general end of summer and when kids and families get back to school, pushing ideas and plans for travel to the back of most people's minds. But that's good for those who aren't burdened by parenting or simply want to get away for a fraction of the cost. To really save big, combine Cheap Flight Day with other money-saving methods and you can experience substantial savings.
Other tips to remember when booking a flight on Aug. 23.
1. Choose a Red Eye: Getting that 4 a.m. flight might be worth it. If you're not too picky, flexibility can really help save you dollars while traveling.
2. Choose the Right Day: The cheapest days to fly are Tuesdays, Wednesdays and Saturday's. Avoid flying on Friday's and Sunday's if you're trying to save big bucks, according to FareCompare.com
3. Buy Tickets 8 Weeks in Advance: As a general rule, the best savings come when you purchase a ticket about 8 weeks in advance of your trip, according to the Airline Reporting Corporation. That means that Cheap Flight Day could be a good time to purchase tickets for Thanksgiving holiday travel.
4. Think about Connecting Flights: Sometimes you can save up to 50% if you look into connecting flights.
5. Leave from a big airports: Check bigger airports to find cheaper deals, international airports usually have the best deals.
6. Use Credit Card Rewards: Utilizing credit card rewards can help land you a ticket for almost free. Even if you don't have a lot, check the balance of your credit card rewards, using a website like www.RewardExpert.com, and you could save big.
"On average, travel in August will save customers $42 over travel in July," said Roman Shteyn, co-founder of RewardExpert.com. "But I've seen prices drop from about 10 to 20 percent depending on destination and departure cities. Cheap Flight Day combined with other methods is a wonderful way to save money on future travel."