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Paying for flights is one of the most significant costs of any vacation, particularly if you’re planning a long-haul trip.

And traveling during the summer months can be especially expensive, with flights in the high season costing much more than they do during the low season.

To ensure you get the best bang for your buck, Skyscanner has launched a new tool that will help savvy travelers to book their flights when they are at their cheapest and to save as much money as possible.

The tool is called the Skyscanner Savings Generator.

Here’s everything you need to know about this new tool and how to make it work for you:

Finding The Cheapest Price

While a huge number of American travelers hope to hit the road this year, 42% haven’t booked their vacations yet because they’re waiting to get the best possible deal.

But the Skyscanner Saving Generator can help.

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Research has shown that using the Skyscanner tool will save travelers around 5% on the cost of their flights this July and August, provided they are prepared to change their vacation dates to those that offer better value.

The tool can also tell you when the cheapest time to fly to your chosen destination is, so if you have flexible dates, then this is where you can make the biggest savings.

Did you know, for example, that you could save a whopping 31% by traveling during the last week of the summer vacation break rather than during the first week?

With the average American budgeting for their summer flights to cost $233 per person, on average, that equates to a significant saving.

How Does It Work?

The Skyscanner Savings Generator is based on the Skyscanner algorithm that powers so many other aspects of this handy website.

This gathers unbiased data from billions of flight prices offered across hundreds of airlines throughout the year and then uses this to forecast when travel prices will be the cheapest.

The Skyscanner tool uses up-to-date seasonal information so that the information you are working with is relevant to the period in which you want to travel. This is regularly updated so that it is as accurate as possible, meaning prices are dynamic and may change each time you use the tool.

Not every travel route is available via the tool at this point, but new routes are being added all the time.

All you have to do is input your desired route and if it is available, you will be shown:

• The average monthly flight price for your chosen route

• The best time to book your flight

• The cheapest day to travel on

If you are an adventurous traveler and aren’t tied to a particular route or destination then you can also ask the generator to show you the prices and availability for alternative, less-expensive destinations.

Using the new Skyscanner saving generator is easy, and it takes only a few minutes to gather all of the data you need to make an informed choice about your vacation plans.

You can find the Skyscanner Savings Generator here.

Flight Booking Hacks

Using the Skyscanner Savings Generator is a great way to save money on your next flight.

Other travel hacks that can stretch your dollar include:

• Flying out on a Tuesday rather than at the weekend. Research has shown that, on average, Tuesdays are the cheapest days to fly.
• If you live close to more than one airport, look at flight prices for both options. Smaller airports often offer cheaper flights than the biggest, and most convenient, hubs.
• Book your flights on a Sunday. Research has shown that travelers who purchased their tickets on a Wednesday paid an average of 4% more than those who booked on a Sunday.

Traveler Alert: Don’t Forget Travel Insurance For Your Next Trip!

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This article originally appeared on TravelOffPath.com