You won't be traveling by air very long before you hear the dreaded gate announcement that the flight for which you are waiting is overbooked. In other words, someone with a confirmed seat will not be making this flight. Many times, not one but several passengers will give up confirmed seats.
There are budget travelers who do not dread that announcement -- in fact, they see it as an opportunity for free travel. Airlines compensate travelers for an airline bump. Here's the tricky part: that compensation varies widely by destination, airline and situation. But if it pays to at least consider volunteering to give up your confirmed seat for exchange for a free travel voucher. Find out how an airline bump could pay for your next trip and read up on your rights if you are bumped involuntarily.