Tracking the best airfare has its tricks

Traveling this summer doesn't have to cost you an arm and a leg. Surely you've heard that buying tickets on Wednesday after midnight gets you the best rates, but the guys over at Wired wanted a more logical explanation.

They went straight to Oren Etzioni, founder of Farecast, to get his expert advice. So what are the best times to travel or buy your tickets? Here are a few suggestions proposed by Etzioni:

1. Buying tickets in advance doesn't always save you money. Instead, book your flight two to eight weeks in advance to lock in the lowest prices during non-peak seasons. Sorry, this rule doesn't apply to peak season (summer, Christmas), so continue to book your holiday flights in advance.

2. Best time to buy tickets is early in the week, so hold off until Tuesday or Wednesday to make your move. I guess the Wednesday theory was right after all.

3. If you want to save money, avoid flying on Friday, Saturday, or Sunday, especially during spring break and summer. Flying during the week not only saves you money, but it helps you avoid the airport crowd.

4. If you find a great price online, don't hesitate to book your flight. Etzioni says 50 percent of reductions are gone in two days. On the other hand, if the price is too high, wait until the airline decides to slash prices in order to boost sales.

These are all great tips, but if you have any tips that have consistently worked for you, share them in the comments below.

Check out the full article for more traveling tips:

Tracking Air Fares: Elaborate Algorithms Predict Ticket Prices (Wired)