Plenty of so-called conventional wisdom isn’t really wisdom, especially when it comes to travel spending.
The myth: Book your plane ticket as far ahead as possible.
The reality: The conventional wisdom that the early bird gets the worm was debunked last year when Airlines Reporting Corp. studied $82 billion worth of bookings and found that the sweet spot for prices is six weeks before the flight, when airlines start dangling deals to fill empty seats. In 2011, the study found that tickets were about 6% cheaper during this time frame, and the discount has been even higher in previous years. A more recent study published last week by CheapAir.com turned up similar results; it found that booking seven weeks out will let you score the best deals on airfare.