This Is The Best Time To Book Your Next Cruise If You Like Saving Money

While cruising may sometimes seem like a luxury exclusive to those willing to splurge, it can actually be quite affordable — if you know when to book your trip. Cruises are a great way to visit multiple destinations in a single voyage, and with the right timing, this experience can be secured at a deep discount. We already know that Thursdays yield the most deals, but it turns out that what matters more is how far in advance you book.

The earlier you book your cruise, the bigger your savings — at least most of the time. In fact, booking a year in advance isn't too crazy for cruises. "It's best to book a cruise six to 12 months out to ensure you get an optimum selection of cabin types, preferred itineraries, and special promotional rates," Jennifer DeLaCruz, a vice president at Carnival Cruise Lines, told Frommer's. Additionally, some cruise lines have price protection policies in place, safeguarding your investment in case of fare adjustments.

Meanwhile, travel advisor Jeremy Hall shared with AFAR that even if you come across a brand new advertisement for the cruise after booking, chances are, the rate you locked in is still more competitive. "Cruise fares tend to rise as the time before departure draws closer," he said via the publication. "Even though you may see a new promotion announced for the cruise you booked six months ago, chances are you got a better deal because the cruise fare more than likely went up before that new promotion was announced."

Apart from booking in advance, you may also want to take advantage of wave season. Occurring annually from January through March, it serves as the cruise industry's prime time for securing the best promotions, including — but not limited to — stateroom upgrades, reduced fares, and onboard credits. 

"Wave season basically is like Black Friday shopping for cruisers," Scott Campbell, manager of cruise relations at AAA, told USA Today. You'd be remiss not to capitalize on this season to book your cruise, as the abundance of promotions significantly tapers off once it's over. "... After wave season, you can expect to see fewer deals in the marketplace," Andrew Jones, director of leisure partner relationships at a travel company, shared with the American Society of Travel Advisors. "Plus, the longer you wait, the more likely you are to experience availability issues and your preferred sailing date may be sold out."  

However, be wary about booking blindly. In other words, don't just throw your money at the first deal that meets your budget. It's still important to do your due diligence and ensure that it genuinely offers the best value before you go ahead and book. "The best way to compare deals is to look at the total cost, as well as extra perks that are included," cruise influencer Illana Schattauer explained to Condé Nast Traveler. "Cruise travelers should keep track of pricing, so that they can book when they see a price decrease." 

If you're not keen on booking far ahead or waiting for wave season to roll around, another option is to live on the edge and book your cruise after the final payment deadline has passed. That may seem like it's cutting it close, but Colleen McDaniel, editor-in-chief of renowned cruise site Cruise Critic, noted via Business Insider that it's usually the time when cruise lines slash prices on unpaid and canceled cabins.

"If cruise lines receive booking cancellations and need to fill cabins quickly, they'll often lower fares to entice travelers to book," she told Business Insider. "While you might not get your top cabin choice, or the restaurant reservation you were hoping for, you'll very likely get a great deal." It's worth noting, though, that cruise lines have a variety of deadlines for payments, so keep your eyes peeled. For instance, Celebrity Cruises has some sailings with a 120-day cutoff, while Royal Caribbean has cruises that only require a 75-day leeway.

For travelers with a flexible schedule and a penchant for spontaneity, cruise lines like Holland America have a standby program that offers competitive rates as low as $49 per person, provided they agree to come onboard within a week's notice. You don't have the option to choose your stateroom, nor can you back out once selected, but if you get cleared to set sail, you'll be scoring the cruise at a value you can't find elsewhere.