Rental car prices vary a lot. The price you pay depends on a number of factors including the rental agency you choose, the type of car you want to drive, your location, the time of year, and even the time of day. According to USA Today, the price of a rental car can change several times a day. In fact, they can increase 50 percent or more within 24 hours. While it can be hard to hit such a constantly moving target, the following tips should help you get the best deal possible.

-Don’t rent more car than you need. If you only need a standard compact car, don’t pay for a specialty SUV.

-Make a commitment. The weekly rate might work out to be cheaper than the per day rate (you can always return the car early, but you’ll pay if you return the car even a little bit late). Many travel experts also advise you to make your reservations at least a week in advance, although I am personally a big fan of last-minute deals.

-Shop around. You can call or surf around on your own or use a Web site like Sidestep.com to compare prices. Don’t overlook coupons—I found one in the “e-book” sold at my daughter’s school.

-Name your price (or try to anyway). Sites like Hotwire.com and Priceline.com allow you to negotiate on the price. My dad’s best vacation memory was time he paid only $32 a day to drive a red convertible. (Note: he did not follow the first tip!)

-Flash your membership card. You probably already belong to an organization with rental car benefits. AAA, Union Privilege, and AARP are just a few examples of organizations whose members enjoy rental car discounts.

-Join their club. Many rental car companies have their own loyalty programs with discounts for frequent renters. If it is free to sign up, you’ve got nothing to lose.

-Don’t pay for add-ons you don’t need. When you rent a car, you will be offered insurance products. Before you agree to pay more, check to see if your existing car insurance policy covers the rental.

-Know the cost of convenience. Try to avoid renting at the airport; most airports charge convenience fees and many add rental taxes in addition to sales tax. If you have a child who needs a car seat, bring it (‘it’ meaning the car seat) along. And don’t forget to fill up the gas tank at the end of your trip to avoid facing high refueling charges.

Finally, don’t forget to look into alternatives. Research other methods of transportation including traveling by bike, bus, hotel shuttle, or taxi.

Housing news has been so frequent and dramatic that I missed one interesting detail: the demand for rentals has increased. According to the Joint Center for Housing Studies, “with so much turmoil on the for sale side, many households have reconsidered their financial choices and opted to rent rather than buy.”

While homeownership is often touted as the American Dream, I agree that it is not necessarily the best choice for all Americans. Sure, owning a home can have its privileges, but there are some situations where it makes more sense to rent. Before you make a decision to purchase your own home, consider the following examples of situations where it may make sense to rent.

You have less-than-perfect credit. Unfortunately, not everyone qualifies for the best interest rates. Before you get locked in to a 30-year commitment, you may want to improve your standing by paying down debt and establishing a good credit history. Renting may give you the time to need to accomplish these goals.

You do not plan to be in your residence for more than a few years. The initial cost of buying a home is steep and may only be a good investment if you have the time to pay down some of your mortgage debt. Renting, on the other hand, does not normally require you to pay realtor fees or closing costs making frequent moves less costly.

You are not prepared for all the responsibilities of owning. Caring for a home takes a lot of time, energy, and money. When analyzing your situation, don’t forget to consider insurance requirements, home repair and maintenance needs, and association obligations. In contrast, maintenance costs are often included in the price of rent.

You cannot tolerate risky investments. As we have learned, we cannot assume that home values will rise. As a renter, the risk of ownership falls with the landlord.

Your money management skills need improvement. A home loan is probably the largest debt that most people incur and the decision to commit to this big-ticket item should be taken seriously. Since most people’s housing costs consume 20-33 percent of their budgets, you need to be certain you can continually meet this responsibility.

Finally, you can rest assured that your homework and preparation will help to enjoy your dream home—regardless of whether you choose to rent or own.