2. BEWARE "DEALS" THAT ENTICE YOU INTO SPENDING MORE RATHER THAN LESS
Some resort and cruise line promotions can actually end up increasing your total vacation cost. Certain properties offer a room for less only if you commit to, say, a five-night stay; the resort knows that most guests stay only four nights and is betting that on your final day you'll want to splurge on its high-priced activities and restaurants. Disney Cruise Line recently ran a deal where the purchase of a four- or seven-night sailing this winter would get you a three-night Bahamas cruise in the fall for $99 per person (not including taxes, fees, a fuel supplement, port charges, etc.). If you believe the recession will continue—which means the bargains will only get better—then resist travel companies' efforts to seal the deal far in advance, and wait until the last minute to book. The exceptions to the rule? If you want something that's scarce (say, a room in Vail during Presidents' Week), or if your destination is one where the season is short and accommodations are few (such as an Antarctica cruise).

3. PAY IN LOCAL CURRENCY
"Last year was the year to lock in the dollar rate," says Joe Brancatelli, publisher of JoeSentMe.com, the online bible for business travelers. "This is the year to resist using dollars. This is the year to gamble." That means always paying in the currency that's losing value, especially if you're doing so months ahead—say, for a South African safari. Be sure to use a credit card such as Capital One that doesn't charge extra for foreign-currency transactions (see No. 22).

4. LOOK FOR AIRFARE-AND-HOTEL PACKAGES
The worse the economy, the more money these can save you when your destination is a resort on an island with limited airline service. Consolidators who create packages for such islands in the Caribbean or Hawaii (e.g., Liberty Travel, Pleasant Holidays) "have the bandwidth to adjust pricing," says Berman. They buy blocks of rooms from the hotels at a low negotiated rate well in advance and mark up that rate. "They may buy the room for $150 a night and then in fat times sell it for $300," explains Berman. "In lean times, they can adjust the rate downward, sell that room for $151, and still make a buck."

5. WATCH OUT FOR MOUNTING HIDDEN FEES
Hotel prices have dropped most in locales that have the largest supply of rooms: Las Vegas, Orlando, New York City. The lower rates go, the more the traveler may encounter new fees—for use of the pool, fitness center, parking lot, bellhop, housekeeper, utilities—that the hotel separates out from the advertised price. Some New York City properties are actually imposing an "extra person charge" of, say, $60 if more than one person occupies the room. Find out what mandatory or "optional" (but impossible to avoid) surcharges you'll face once you're at the hotel or on board the cruise ship. And watch out for stricter cancellation fees.