Usually its a good idea to book flights well in advance, but sometimes the unexpected happens and you need to fly now. If you find yourself in that situation, it's worth looking into using your miles for that flight. A funny thing happens as you get closer and closer in time to a flight: airlines raise prices to astronomical levels, but they also often free up award space such that it is possible to get those last minute flights at the lowest redemption rates possible. For more, see posts from FrequentMiler and ThePointsGuy:
http://boardingarea.com/blogs/frequentmiler/2011/09/28/use-airline-miles-for-last-minute-travel/
http://thepointsguy.com/2011/04/using-points-and-miles-for-last-minute-travel-and-emergencies/
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