Being on the lookout for cheap flights is a no-brainer (unless you swim in money of course), because it leaves you with more to spend on things you like to do. I'm always surprised to hear how many frequent flyer points some people have, and how they complain that they never get to use them. We use frequent flyer points all the time, and we never pay full fare on a plane.
Of course, bargains are easier to come by when travelling outside peak season, and that goes for using Qantas points as well. However, awards flights are generally available when booking 6 months in advance, even during the school holidays. If you have difficulties, taking the kids out of school for a couple of days either side of their holidays will usually do the trick.
I also use FareHunter a lot. This site compares flights and prices for the Australian carriers (although they are being shut out by Jet Star at the moment) and it is very user friendly.
For example, I just checked FareHunter for direct flights from Melbourne to Cairns in late August which is 3 months away. Up with Qantas on the 28th and back with Virgin 4 days later for $350 in total. Award flights are available on both days with direct flights at convenient times(return with JetStar) so I can also get there and back for nothing. Full fare is a whopping $1,600 return, so don't even consider it!
You should also put your name on JetStar's mailing list so that you are notified via email when their cheap fares go on sale.
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