There's a summer fare war brewing between Southwest, AirTran and all of the full fare airlines. Southwest got the ball rolling with a nationwide sale on travel through June 24. They're capping fares at $98-$258 round-trip.

AirTran quickly matched the deal and also expanded it to the entire summer -- not just through June 24. Their fares start at $39 one-way and mostly cap out at $189 one-way.

Once both major discounters threw down the gauntlet, the full fare airlines matched their rates. They full fares can't really afford to match those rates, but nor can they risk losing business all summer.

More good news on the hotel front, as well. Once you get where you're going, the bargains on accommodations are fantastic.

The only potential ugliness this summer will be with car rentals. The rental companies are reducing their fleets, which results in the possibility that you'll get older, run-down vehicles. The decline in fleet also means the cost of a car per day is going up.

Clark recommends booking a car at the time that you book your air travel; remember, car rental fees are completely refundable. Then one week before your trip, check the rates again and see if you can grab a better deal at a lower price.