Fly out on the right day. Sure, leaving on a Friday promptly after work or heading on vacation on a Sunday after a relaxing weekend might be ideal, but it turns out these are the absolute worst times to fly. High air traffic on these days means that airlines jack up the prices. Plan your flights so that you depart on a Wednesday if possible, followed by a Tuesday or a Saturday. Mid week departures are the slowest, so carriers know they will have to accept lower costs in order to fill their seats.
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Fly out at the right time. As with most of these search related parameters, turns out what we want the least is what makes the cheapest flight. The earlier your leave on a flight, the cheaper it will be. Red eye flights (in the middle of the night) are by far the cheapest, followed directly by early morning flights. Although you might luck out on a rare evening steal, typically the later in the day you depart, the more expensive your ticket will be.
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First, do your research: are there budget airlines unique to the country you're flying out of and where you're headed to? Booking with a budget Australian airline (Jetstar) from Sydney to Honolulu, then an American one from Honolulu to Montreal saved us over $400 each when flying back from Australia to Canada earlier this year. This allowed us to create a thrifty five-day stopover in Hawaii on our way back, which was less exhausting and a lot cheaper! Kiwi.com and AirWander are both great search engine for revealing cheaper routes like this that involve multiple airlines.