"Money File"-Uncovering Affordable Travel Deals
Wednesday, June 25, 2008SUSIE GHARIB: With gasoline prices at record highs, tonight's "Money File" looks at ways to save on your summer vacation. Here's Terri Cullen, personal finance columnist at the "Wall Street Journal."
TERRI CULLEN, COLUMNIST, THE WALL STREET JOURNAL: Summer's finally here, but with soaring gas prices, it's tougher than ever for families to find an affordable vacation. And if you need to fly to your destination, you may pay even more. Airlines have been hit hard by soaring gas prices, too. So as a result, travelers are being asked to pay more for everything from checked luggage to drinks on the flight. And recently, a number of air carriers announced plans to cut back on their fleets later this year, starting in September. What that means is more travelers will be competing for fewer seats and that probably means much ticket prices for everyone. But you can still find vacation deals if your travel plans are flexible and you act fast. Where you live matters. You'll find the lowest fares near major hub airports, where competition from low-cost carriers is still keeping prices in check at the major airlines. Where you're going matters, too. For example, if you have a Caribbean vacation in mind, you'll find fares to the Bahamas are up sharply from last year, while fares to the U.S. Virgin Islands are actually down a bit. So shop around. Being flexible about when you travel also may get you better deals. If you're planning on going to a hot vacation spot, compare prices for flights during the week instead. And if you know you'll be traveling for the holidays later this year, book your seat now while prices a still relatively low. Finally, try checking with a travel agency, which may have already locked in lower rates on air fares earlier this year. I'm Terri Cullen.
