1.) Pack a lunch
Some hostels offer a free breakfast and, although the hostels don't like it, I've seen many people pack an extra sandwich for later. For a lunch that doesn't irritate hostel staff, pack a lunch not unlike you would at home. A sandwich, fresh fruit and yogurt for you to eat while you're out and about is cheaper than eating in a restaurant.
2.) See it for free
You've heard this one before but it couldn't be more true. Many museums and attractions offer free days/ times or exhibits so it's worth your while to find out when these are and enjoy them then.
3.) Prioritize
That said, you will have to pay for some sights so decide ahead of time whether they are worth it to you or not. Same with eating in restaurants. Personally, I love restaurants, but it's all about knowing how much you have and how important doing certain things are to you.
4.) Do your own laundry
Whether in your hostel or in a laundromat doing laundry is expensive. If you can, hand wash as much as possible. Lots of drugstores offer travel size laundry soap or just use a bit of mild shampoo. If you have to use the laundromat, only use the washing machine and hang your clothes to dry somewhere.
5.) Pack light
Yeah, you've heard it before but it really is true. Not having to drag around a big suitcase will save you time, hassle and money.
6.)Ask for Advice
Asking locals, someone who has been there before or the travel desk at your hostel/hotel is always a good idea. Chances are they know of some good deals, cheap places to eat, attractions etc.
7.)Drink before you go out
This is the adage of travelers everywhere but it is also true. Drink prices in bars and clubs are outrageous so have a couple of drinks back at your hostel or at a cheap local place if you plan on a night out.
8.)Shop Around
This one seems obvious, but when I haven't done it I always regret it. It's worth your time to look for accommodation, insurance and flights at more than one site before purchasing. Just because it says cheap, doesn't mean it is! Same goes for currency exchange. As all travelers and websites will tell you, taking money out of an ATM is the best way, you get the best rate. However, if your bank charges you for taking money out it's best to take out as much as you will need for the foreseeable future and lock it up somewhere.
9.)Beware of costly phone calls
If you're like me and tend to call home at least once a day you have to watch out for expensive pay phones. Use Skype as much as possible, if you must call buy a local mobile phone or head to one of those phone booths/internet places. For international calling they are the cheapest, however, if you want to talk to some one in the same country (at least in Europe this is the case) you're better off sending a text as phone calls are expensive.
10.)Don't be afraid
European cities, by and large, aren't as dangerous as their North American counterparts. I've seen many a North American flee from someone trying to give them flyers for restaurants or clubs. While these may be tacky, they are, for the most part, harmless and you may be able to get a deal. However, at the same time people will try to rip you off, especially if you are a tourist or an outsider. Be firm and confident and you should be able to avoid most of these situations. On that note, watching your belongings is common sense, (and will definitely prevent you from losing money)even the locals do this. Keep your bags with you at all times and just because you've ridden the metro without getting robbed before doesn't mean you can be sloppy.
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