The countries that you will visit have their own standards of living, which can affect the prices of their accommodation, food and transportation. It is a good idea to research in the various Europe guides to survey the prices that you will be expected to pay once you're there. In general, the cheapest European countries to visit and stay in are generally still those in the Eastern bloc but they include Turkey, parts of Spain, Slovenia, Romania, the Netherlands, Macedonia, Croatia and Bulgaria. You can spend between $35 to $50 a day and still have a good time. In contrast, the most expensive countries (more than $70 a day) would be Switzerland, Norway, France, Germany, Britain, Denmark, Austria, Estonia and Iceland. The major cities in any country are expected to be more expensive than the rural areas. Staying in one place a little longer is a good idea if you want to save money. You can usually get discounts for stays that last a week or more and weekly transport passes are cheaper than the daily ones.

It's very important to keep a running track of your budget and resist the urge to depend on your credit card. The good news is, if you have prepared and researched enough, you will most likely end up saving a lot of money and still get a really good European experience!