January is a great time to find discounts on travel. But even if you can't get away at the moment, there are some things to keep in mind that will help you get the most for your money on your next trip.

"At this time of year it's all about the sun. Places like Mexico, the Dominican, the Caribbean; that's where the demand is [and] that's also where you'll see the best prices," said Flight Centre’s Allison Wallace.

Travelling in shoulder seasons like January, April and November will save you the most money. You can also improve your chances of getting an even cheaper fare by flying mid-week on Tuesdays or Wednesdays.

"Most people want to save holiday days and most charters are leaving on the weekends," said Wallace.

Websites that rent apartment or homes are increasing in popularity. Many people are booking their accommodation on sites like airbnb.com and vrbo.com in an attempt to save money.

"Particularly for people with young families, it's a little easier, a little less expensive than hotels normally and they'll have a full kitchen and can do meals at home," said Wallace.

If you are booking a private home, it’s a good idea to read reviews from people who've vacationed there before and find out if there are extras included in the contract.

"The contract will include things like whether or not you need to bring linens or linens are going to be provided at the house," said co-founder of Flipkey.com, Jeremy Gall.

And always pay with a credit card. That way you can stop payment or dispute the charge if something goes wrong.

If you're feeling even more adventurous there are "couch surfing" sites for vacationers looking to save money while still satisfying their travel bug.

Crowdsourced sites like tripadvisor.com can also provide useful information when you’re booking your trip. And Wikipedia just launched a travel site this week called Wikivoyage, which provides travel itineraries and facts about destinations around the world.