Optimizing your holiday travel budget on 'Travel Tuesday'

• Some last-minute holiday travelers are opting for "Travel Tuesday," the day following Cyber Monday and Black Friday.
• Travel Tuesday falls on Dec. 3 this year.
• Yet there may be some limitations. Here's what to know.

Don't wait too long to book your holiday travel plans as prices often increase as the travel dates approach.

According to the 2024 Holiday Travel Outlook by Hopper, a travel site, about 50% of respondents are cutting back on other expenses while 49% are picking up discounts and deals to afford holiday trips.

This year, some last-minute holiday travelers are opting for "Travel Tuesday," which falls on Dec. 3 and is the Tuesday after Cyber Monday and Black Friday.

A recent report by McKinsey and Company revealed that the interest in Travel Tuesday increased by over 500% from 2021 to 2023.

Holiday costs can be easily afforded by those who can pay off their credit card balances quickly.

There's a reason why shoppers are searching for the term.

According to Hopper data, last year, 92% more deals were offered on Travel Tuesday compared to Black Friday, and 83% more than on Cyber Monday.

Experts caution that there may be restrictions on the deals that are accessible.

"For many individuals, the issue is whether to wait or not," stated Sally French, a travel expert at NerdWallet.

For travelers with fixed travel plans, the response may be "unfortunately, no."

According to Phil Dengler, co-founder of The Vacationer, airlines and online travel agencies will provide flight deals on Travel Tuesday, so there is no need to delay booking your trip.

The amount of benefit you receive from Travel Tuesday discounts depends on your flexibility, experts suggest.

"If you lack flexibility, book any good deal before Travel Deal Tuesday, advised Hayley Berg, an economist at Hopper."

How Travel Tuesday works

Before Travel Tuesday, deals sometimes start rolling out and may continue into the day after, said Dengler.

In order to take advantage of the benefits, one must book the flight, hotel stay or cruise trip by the end of the day, as stated.

Be sure to read the fine print when shopping for discounts, as they may only apply to specific routes and days, advised Dengler.

NerdWallet's French stated that with Travel Tuesday, there may be a limited number of airline seats or hotel rooms, similar to how retailers often have a limited stock for Black Friday and Cyber Monday doorbusters.

She stated that they wouldn't operate two planes on the same route simultaneously.

'Be ready' to book

It may be more suitable to use Travel Tuesday for planning a general vacation destination and timeframe in 2025, rather than a specific itinerary for the holidays.

If you find a flight at a comfortable price for your planned days and destinations, book it immediately, advised French.

"Don't wait for Travel Tuesday for the deal to be sold out."

It's beneficial to book in advance and continue searching for price drops, according to experts.

As long as it is seven days before a flight's scheduled departure time, you typically have 24 hours from booking to cancel for a full refund, according to Dengler. Additionally, some airlines do not charge change fees for non-basic economy fares, he said.

If you find a better deal on Travel Tuesday, you can cancel your current bookings and take advantage of the offer, Dengler stated.

If you're not set on specific travel dates and locations, waiting for discount days could be beneficial.

As we get closer to Black Friday or Travel Tuesday, deals tend to improve, according to French.

Berg advised travelers to consider what they want to book in advance.

She advised travelers to explore now so that they can be prepared to book on Travel Deal Tuesday.