•Budgeting- Remember how long you are going to be there. Decide how much money to allocate to each activity. Even if it is hard to stick by your budget, it will help.
•Get ISIC (International Student Identification Card) – You can get great deals at restaurants, markets, and museums. Apply for one while you are in the states; they will mail it to you in 4-6 weeks.
•Ask for student discounts– Everything from train and bus tickets to hostels to little restaurants with friendly owners will give.
•Buy groceries – Groceries are far cheaper than eating in restaurants.
•Take local transport– Price-wise local public transportation is always the better option over taxis.
•Menú del dia- when eating out.
There are ATMs practically everywhere in Europe and most students found this to be the easiest way to get cash. However, before you leave, speak to your bank about (1) the high fees they may charge for overseas use and (2) not flagging your account as fraudulent due to the overseas use. To counter the large fees some students took out large amounts of cash at one time. If you choose to do that, be careful with your cash. (Watch out for pickpockets!)
•Some students came with them as backup for their cash and credit cards.
•Do not rely on them as they are not always accepted.
•If you lose them, or if they get stolen, you can put in a claim for your money.
Exchange rates change daily, so for the most accurate information look at: http://www.xe.com
Check every few days and wait until the rate goes down little then take out lots of Euros, avoid ATM fees and save some money on the conversion too.
Western & Northern Europe:
•Used in most places.
•Make sure to have a form of I.D. on you when using a credit card. Your passport will always suffice, but it may not be safe to carry it around all the time.
•Stores in Madrid may give you a hard time and not allow you to use copies of your passport.
•Some stores accept state I.D.
Eastern & Southern Europe:
•Many places do not accept credit cards.
•Those that do, more widely accept MasterCard and Visa over AMEX.