Monday, November 7, 2011

Reader Question: How Much Money Do I Need?

Ferris Wheel in London
[Photo courtesy of Amy Richards]
While writing my blog, I found the most common question asked by readers was "How much money do I need to travel through Europe?" Like everything on your trip, this will depend on your personal preferences on how you want to spend your money and what's important to you. For example, some people will think it's worth it to spend the extra money to get an authentic taste of the local cuisine, while others would rather travel around with a peanut butter sandwich so they can spend money on tours and local attractions. Because of these individual variations, I broke down a budget and offered variations, ranging from scraping by to splurging.

Your basic budget, not counting travel is 45 - 60€/day. Add your travel on top of that (averaged in) and you'll probably end up spending a total of 80€/day, multiplied by 30 days is 2400€ total. Here's how I got that number:
  • Hostels cost anywhere from 15 - 20€/day. Earlier in the year I wrote a blog about hostels and how you can save money when booking your hostel, so make sure to check that out if you need some extra tips.
  • Food will cost you anywhere from 10 - 20€/day. Your 10€/day budget will consist of sandwiches and pastries, and while it's doable, it probably won't fill you up. 20€ is a better budget if you want to stay full and try some of the street food in the area. 
  • Your mode of transportation will be the biggest factor determining your budget. Some places you visit, you will be able to walk everywhere, others you will have to take a bus (about 3€ round trip depending on the the place you're visiting. Traveling from country to country depends on whether or not you fly or take the Eurail, as the prices will differ greatly depending on how many countries you plan to visit. For tips on the best mode of transportation to use, you can look at my blogs about rail systems within a countrythe Eurail, and plane travel in Europe
  • Lastly, you have to take into account that it will cost money to do some touristy things. For example in Scotland Edinburgh Castle is 14£ and a bike tour in Amsterdam is 20€. Experiences like these are often worth the money, so make sure you include this in your budget. Also keep in mind that you might encounter more than one tourist opportunity in one day, or you may want to buy a souvenir from your travels.
Edinburgh Castle
[Courtesy of Amy Richards]
There are items outside your budget that are important to consider too, like bank fees (see my blog about money in Europeor what to do if you find you've been pick-pocketed.

Have any questions of your own that I could answer? Feel free to e-mail me at or post a comment below. Click the "Follow" button on the top left hand corner of the blog to keep updated on trips for traveling through Europe.

Happy Travels!


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