With the combination of fuel surcharges and baggage fees driving the price of air travel higher, everyone is looking to save a dime--and when you book can make a big difference. When you should book is dependent on a number of factors, and not just price.
If you are flying anywhere near a major holiday, book your flight as soon as possible. A window of one or two months will be safe. If that seems early, remember that air travel is not pleasant around Christmas and Thanksgiving, but neither is canceling your trip because there are no available flights. International flights disappear in a hurry during the summer tourist season, so it doesn't hurt to book those flights one or two months in advance, either.
According to Travel Daily News, an independent survey study done by Topaz International found that booking a flight 21 days in advance was up to 51% cheaper than booking three days in advance. The same study did not find a significant difference between booking 21 days or two weeks in advance, so if you are only considering price, you will want to book within that time frame, if not earlier.
Many airlines allow you to choose your seat. If you have a seating preference, a month's advance notice should give you a decent selection. This is especially worth considering if you have a long flight as your seat location might affect your comfort during the trip. Remember: Exit rows have the most room and aisle seats offer easy restroom access. If you're traveling in a group, booking earlier will give you greater control over where you and the others sit relative to one another. While this is probably not as important for most adult travelers, it could be a major issue if you are traveling with young children.
As a general rule, earlier is better. If you book your flight at least a month in advance, you will have greater control over your seat and will book for a cheaper price. There's no reason to wait until the last minute if you know you have air travel on the horizon, especially because you will be able to relax knowing your flight details are secure.