The subjects related to money are the biggest worry people have. It is almost impossible to give the exact amount of money that you will spend because it depends on so many factors. Here we will give different advices and we will try to consider many factors in order to help you to be able to calculate your own budget.

Besides the flight, the rail pass ( or whatever you plan to get around to each country ) or the accommodation there are some things that need to be added to your budget: food and drink (if you are willing to go out at night this could be an important matter), monument and museums visits (this could be really a hole for your pocket), travel expenses (extra train or ship fees and local transport as subway or bus), laundering, phone, entertainment, gifts, souvenirs, tolls and fuel (if going by car). It is also very easy to forget certain items that may be bought before like travel guides, backpacks, luggage, sheets or sleeping bags, student or hostel cards and other things that perhaps you don´t have at home.

When doing your budget it is worth listing everything you will be spending money on, but adding extra money to cover the hidden expenses or your calculation errors. This way you will get a rough estimate of how much money you will need being sure that you have covered unexpected things that we think are unavoidable.

You must make the budget by thinking about how long you will stay, when and where. Have in mind that in high seasons everything is more expensive and that prices across Europe can vary strongly. The more expensive countries are for example Norway , Denmark , Sweden , Switzerland or Great Britain . The cheapest ones come from Eastern Europe . Finally, in Western Europe the Euro is making prices alike ( Portugal , Spain , France , Germany , Austria , Italy , Netherlands , Belgium , Greece ) although we still can find some differences. If you are visiting many cities instead of countryside it will be increase the expenses.

We will try to talk about some amounts to help you but we insist that you should make your own budget considering all these factors. Although we focus on people that want to travel cheap, rest of people could find the next tips interesting.

Sleeping

Depending on the accommodation we estimate a hotel for 30 € or more, pension or bed and breakfast for 20-30 € (per night and person), hostel family rooms 20-25 €, hostel normal rooms 8-20 €, camping 4-15 €. In general, we calculate for the average budget traveller 15-25 € per night.

Food

Food is a very variable expense. You can eat out every meal or buy your food in supermarkets to cook in a hostel or to eat directly. If you choose normal restaurants it is easy to spend 20 € average. In fast food restaurants 10 € and if you buy in the supermarket the meal will cost 4-6 €. Here you will have to sum breakfasts (2-3 € except bought at supermarkets for 1-2 €).
Consider some money for snacks, as it is difficult to resist the temptation when you see the ice-creams or the countries typical food shops. 3 € per day.

Drink

Although it is better to carry your own water bottle it is very probable that you buy some refreshments or beer as there are very hot places that heat your water and make you need a cold drink.
Also you should consider coffee because it helps to wake up or to strength your body when tired.
To foresee if you will go out at night is very important as this is really expensive in some countries, as well as be careful with frequenting terraces and pubs in the evening. Without going out we suggest about 6 € per day.

Monuments and museums

Here our advice is clear, don´t lose a great place or sight because of the money. You travel to Europe to see things, so see them. There are other things where you can save your money. You will spend a very variable sum depending on countries, discount cards, cities, etc. Maybe 10 € per day.

Travel expenses

3 € per day for train fees (if you have trains or bus passes) and local transports.

Gifts

It's up to you.

Conclusion

So for an average day in which you eat from a supermarket or fast food and dinner at restaurant, and if you combine hostels with pensions or “bed and breakfasts” we estimate 70 € per day, sleeping included. Probably you are astonished and you think this is crazy. We are going to explain some tips to reduce this average and take into account that we calculate above in order to avoid being run out of money. And remember that unless you are really strict with your budget you will probably spend more than you thought.
If you are a backpacker you will eat from supermarkets mostly and you will sleep at hostels, that will reduce the daily spending to 30-50 €.

Our philosophy: beware of becoming obsessively thrifty as this is holiday, you won't be able to keep an unrealistic budget. It is nice to be conscious of your budget and know how much you are spending and how much you can afford but enjoying a nice meal or a private room can be reinvigorating, so leave yourself some room for pampering. Of course that it's important to travel cheap and some of us have no choice. But think if it is better to travel for less time, and do what you want to do, than stretching the trip out as long as possible but never having the money to do anything. We don´t have to say again that the decision is up to you, because it is completely personal.

We will try to give some tips to save money.
- Follow a firm budget.
- Avoid expensive countries or combine them with Eastern countries.
- Being strong with drinks, snacks and gifts will reduce around 10 € the daily budget.
- Sleeping in hostels and buying your food at supermarkets.
- Sleeping in “bed and breakfasts” or pensions with breakfast included. Eat a lot in the breakfast in order to have light meals at midday.
- For the first days bring some food from your country, specially if you are travelling first to an expensive place.
- If you carry a youth, student or hostel card, or even a European passport ask always for discounts everywhere: museums, monuments, tours, buses, subway. Don´t be shy and ask. You can ask for the region discounts at your hostel as well.
- In public transport there are probably many different passes, study them and don´t buy a single ticket without being sure that it is the best or unique option.
- For having a student card you have to pay. We have learned that in most places it is enough to prove your student condition, for example with your own university or school card. In many cases you can have discounts without showing any card, telling them that you are student or showing only one card. Use the information as you want, it is directed to people who forgot to obtain the international student card before starting the trip.
- Don´t phone by inserting coins. If you are spending some time in a country the best choice is to buy an international phone card while travelling.
- Don´t return with foreign coins because banks don´t exchange them at home. Keep that in mind during the last part of the trip and spend the last coins at the end.
- Study your mobile fares before leaving the country and ask to your company what you have to do.
- Talk to other travellers, as they may have some nice ideas to help you saving.
- Working abroad is a nice chance to travel throughout Europe , consider it if you can´t afford a trip.

Another good advice is to stay firm with the budget at the beginning in order to have extra money at the end and treat yourself better at the end or even extend the trip.

There are no border controls between half of the EU countries thanks to the denominated "Agreement of Schengen". This agreement suppresses all the controls in the inner borders, but it introduces effective controls in the outer borders of the UE and introduce a common visa policy. The members of Schengen are Germany, Austria, Belgium, Denmark, Spain, Finland, France, Greece, Italy, Luxembourg, Holland, Portugal, Sweden (not Ireland neither United Kingdom) together with Iceland and Norway (that are not members of the Union). Agreements with Iceland , Liechtenstein , Norway and Switzerland allow to treat their citizens as if they were citizen of the UE and to travel simply through the UE with the national identity card or the passport.

For non EU citizens and for EU citizens traveling to other non EU countries a valid passport is needed. Don´t forget that children who travel with you must have passport, identity card or be included in your passport.
As far as the visa is concerned there are 33 countries whose citizens do not need it to visit the UE for stays of three months or less. Among them we find Australia , Canada , Japan , New Zealand , United States , Bulgaria , Croatia or Romania . The list of countries whose citizens require visa to travel to the United Kingdom or Ireland differs slightly from other countries of the UE.
If you have a visa for a country included in the Schengen agreement, it automatically allows you to travel to the other countries of Schengen. On the other hand, if you have a valid permission of residence for some of the countries of Schengen, it is equivalent to a visa. You may need a national visa to visit Ireland , the United Kingdom and the new EU members. Some new states members accept Schengen visas or residence permissions.
If you have still some doubts you can consult them in the closest consulate of any country of the UE.

Therefore it is compulsory to take the passport (along with the visa if necessary) that not only allows to cross the borders but that also allows to obtain train and bus passes, to pay with a credit card or to book a room. If you are an European Union´s citizen who is going to move only through European Union´s countries you can take only your Identity Card. As you can choose between passport and Identity Card take the more comfortable to carry.
It is almost compulsory to take a credit card: VISA, American Express, Mastercard or Eurocard. Make sure that your cards have sufficiently high credit limits to cover what you'll need. It's also advisable to call your credit card company prior to travelling far from home, to let them know your plans.
You could make a photocopy of your passport and credit card that would be useful in case you lose the originals. Keep the copies in separate places from the originals. If that happens call immediately to your embassy and call to your bank to block or cancel your credit card (it is convenient that you get the exact telephone to cancel your card before starting the travel in order to be fast if something happens). It is a good idea to scan your passport or identity card to have it available via e-mail.
Check the end date of documents and cards several days before leaving to avoid bad surprises.

Obtain the International Student Card, a youth card or a hostel card for discounts and advantages during the trip. Perhaps the three cards are not necessary at the same time. The most interesting is the ISIC (International Student Identity Card), and you can ask for it in your country if you can proof your full-time student status (and at least being 12 years of age), although you can try to obtain it if you are attending a long course or you are learning a language. ISIC is the one and only internationally recognised.

Take the driving license if you plan to rent a car or if you are going to travel on your own vehicle. A valid driving permission obtained in a EU country is valid in all the other member states. In some countries, besides taking a valid driving license you must have the registration document of your car. Ask in your country if your license is valid or if you need to obtain another type of permission. Check the date of renovation of the license to avoid surprises.

Remember to take as well the insurance or the E111 (document or card).

This is one of the most argued point for travellers.

You have to carry a credit card in any case as it would save you in an emergency. The other benefit of cards is that they are useful if you don't want to take lots of money with you for two reasons: you can pay things with them and they give you the best exchange rate. The main inconvenient is the commission when you want money from credit machines. More or less is 4% of the amount you ask for, but there is also a minimum that they will charge. For that reason it is not a good idea to take little money from credit machines, as you will lose lots of money. If you plan to have cash from credit cards during the travel it is better to take once but a lot of money than little money several times. You can also ask in your bank in order to know how to get the smallest extra fees when taking cash from credit machines. Thanks to the EU, to take cash from a credit machine, to pay with a credit card or to make a bank transference in euros cost now the same in all the countries of the UE.

Cash allows to avoid taxes when taking money from credit machines. Since the Euro is running everything is much easier (although many countries in Europe use the Euro, there are still several that don't including: Eastern European countries, Great Britain , Denmark , Norway , Sweden , and Switzerland ).
The main problem is the possibility of being stolen or losing it. If you are going to be worried and stressed carry little cash and use the credit card. The credit card fees aren´t that much and you will enjoy the trip much more.

If you want to exchange your cash currency in banks, train stations, etc., you will obtain much worse rates than with the credit card. Particularly in highly tourist areas, assume that you'll be shortchanged.

One solution that we recommend is to reach an equilibrium. Pay with the credit cards in restaurants, supermarkets or for transport tickets. Use the cash for the rest of things. Take with you enough cash in order to need to take money from credit machines once.
Maybe if you are planning a short visit to a country that runs with other currency than Euro it is better to take cash from your own country because if not you will pay high taxes to obtain little money there.
Know the currency. As soon as you exchange money in any country, become familiar with what each piece is worth so you can do the math.

It used to be that traveller's cheques were the preferred method for carrying money but this is no longer the case.

Nevertheless, after all this stuff, the rate between cash and credit card depends entirely on your preferences.

Euro is the currency for more than 300 million people in Austria, Belgium, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Netherlands, Portugal and Spain. The symbol of euro is €. The Euro is also used in Andorra, Vatican City, Monaco and Saint Marino, as well as in the far islands belonging to UE countries where euro is applied (i.e. Canarias, French Guayana, Guadalupe, Madeira, Martinica, Mayotte, etc.). At the moment, within the UE Denmark, United Kingdom and Sweden do not use the unique currency. The ten new countries that have joined the UE have agreed to adopt euro, but they won´t be ready for the adoption until year 2007 at least. The non EU countries have their own currency.

To know about the currency conversions go to the currency converter.