Here’s a tip for those who refuse to let their boviscopophobia rule them: Jim at Blueprint for Financial Prosperity recommends looking for last minute cruise deals. He recently snagged a 4 night Western Caribbean holiday for $300.

Last minute deals are so great because they represent revenue that would otherwise be lost to the company offering it. The cruise ship will set sail with a full complement of crew and supplies regardless of the actual passenger count and an empty cabin represents a lot of lost revenue so selling it at a discount to the rack price is something they’re very much willing to do. It’s why hotels and airlines sometimes have last minute fares and discounts, an empty room or seat is lost revenue.

The flip side is the risk involved in waiting. If you really want to go on a cruise, say for your honeymoon, then you probably don’t want to risk waiting for a last minute deal because a last minute deal may never come. For example, we booked our honeymoon flights for Hawaii several months in advance when the deal looked good to us (it’ll run a little under $700 a piece from Baltimore to Honolulu, which seemed like a good price for the time we’re going); we weren’t willing to see if there was going to be a fare sale a month beforehand.

So, if you have a little flexibility, consider waiting until the “last minute,” roll the dice, and maybe you’ll go on a vacation you never expected – say to Iceland to ride some tiny horses and fight in the snow (I had a few friends do that, they have a blast).

Tiny horses? That sounds strangely awesome.

Anyone snagged any good deals by waiting until the last minute?

Last Minute Vacations: Risk With Rewards [Blueprint for Financial Prosperity]
(Photo:Mr. Thomas)

Want more consumer news? Visit our parent organization, Consumer Reports, for the latest on scams, recalls, and other consumer issues.