(LA Times) — The best time to nail down an awards ticket is when you see one that works for you, especially around the holidays.
"If you are within six months of traveling, if you see a 'saver' ticket (one that requires fewer miles), book it," Warren Chang, a vice president for Fly.com, part of Travelzoo, said in an email. "Once all saver award tickets have been reserved by other travelers, it's unlikely that more saver awards will become available."
Get the most for your miles. "Everyone has their own rule" about what is a good value, Chang said. "Personally, I value each mile at roughly one penny … to 1 1/4 pennies. If the effective cost of a reward ticket after any taxes and fees is less than the cost of using cash, I'm more inclined to use miles.
Skip buying miles for an upgrade or a ticket. Chang turns thumbs down on paying for miles to get an award ticket, "unless you are within a few thousand miles of an award ticket," he said. "It's rarely worth buying miles from the airline to have enough miles to redeem a ticket."