You will also have to shell out money for a Schengen (European) visa so you can travel in most European countries without having fear of immigration officials. If your passport is about to expire, you will need to get a new one which can cost you about $60.

Many people worry about getting immunizations, but they're really not necessary when traveling to Europe. There are recommended vaccinations which you may have already had, like vaccines against polio or tetanus. You may consider booster shots for Hepatitis A and B, as well as anti-rabies shots. A round of vaccines can cost you between $50 to a hundred dollars.

The amount you will spend on equipment will depend on what you want to take with you. Experts recommend forking out more money for a sturdy and decent backpack or suitcase, as well as buying good-quality walking shoes. Beware of poor quality gear that will fall apart in unexpected temperatures or stuff that is too sensitive for rough travel (some digital cameras). Expect to pay for a good camera, a pair of hiking shoes/boots, pocketknife/Swiss knife, flashlight, a jacket and medicines. You can expect your expenses for gear, tickets, passes, passport and visas and insurance to easily amount to $1800.