Thanks so much for the really insightful questions. I’ve tried to lump your questions into common categories, so that I can answer them thoroughly and quickly (not an easy feat with jet lag!). It seems like money is one of the biggest unknowns in planning a trip abroad. So, let’s start there.

How much did I budget for hostels, shopping, food, etc.? Overall, I stuck to a under-$100-a-day travel budget: $50 for accommodation (in some cities, it was cheaper, and in some, $50 wasn’t possible - like, Milan, where there is no backpacker’s hostel) and $50 for food and entertainment (i.e. museum entrance fees). Many days, I spent far, far less than $50 a day on food and museums - but I was counting on that; better safe than sorry. I budgeted $0 for shopping; I knew if I bought it, I’d have to carry it. In the end, I broke down and spent $200 on trinkets for my sisters and mom, and a handbag for me. Gosh, it’s pretty.

Note: It’s quite possible to do Europe for much less than I spent - and in another post, I’ll put together some of the best money-saving tips out there. Sadly, they often involve spending less on food, which I was not amenable to doing.

How much do hostels cost? Well, that all depends. In my experience, you can stay in most hostel dorm rooms (8-10 people) for 18-20 Euro a night. Places like Venice were more expensive (almost double!) and private rooms (with shared bathrooms) ran about twice the cost of dorms. Before you finalize your budget, though, check to see if the hostel offers breakfast. If not, that’s another expense you need to consider.

What’s the biggest waste of money when traveling abroad? Museum entrance fees to see works of art that are famous, but ultimately, really boring. I wish I hadn’t paid to go into the Uffizi, for instance, but I wouldn’t hesitate to drop 12 Euro to see the Doge’s Palace. Read up on sights before you pay to see them.

What’s always, always worth the money spent? Good food. I’ve never once looked back and said, “Man, I shouldn’t have spent my hard earned Euros on that plate-lickin’-good (fill in the blank). I should have saved my money and had a sandwich.” Do yourself a favor, and leave room in your budget for a few good meals. It will mean the difference between loving a country and falling in love with a country.

Tip! When making your budget, make sure you factor in how crappy the US dollar is doing these days. When I made mine, there were 1.4 USD to a Euro. While I was traveling, it was more like 1.5. And the GBP? Well, sound as a pound isn’t just a cute little rhyme. There were 2 USD to every pound while I was there.

What’s a good amount of money to carry? Only as much as you can afford to have a pick-pocket steal. There are ways to protect your valuables (which I’ll touch on in another post) but it’s not smart AT ALL to carry around too much cash.

Is it best to use credit cards, cash or a combination? I’m so glad you didn’t say traveler’s checks. ‘Cause those things are a pain. If your hostel allows you to pay with a credit card (and you’re good about paying that thing off when you get home), that can make things a lot easier. Do not get on the plane with wads of cash. ATMs are easy to find for your cash needs, and cash is easiest for quick transactions like those with food vendors and shops.

You should know that in Europe, most ATMs only accept 4-digit PINs. I changed my 6-digit at the local branch of my bank before going overseas.

Monday, November 26, 2007 | money matters, travel tips