How to budget for backpacking across Europe

Budget for $70–$90 USD per day if you are staying in hostels, eating mostly street food or grocery store meals, and taking buses between cities. If you want to drink every night and take high-speed trains, increase your daily budget to $130 USD.

  1. Calculate your 'fixed' costs. Subtract your flights and major inter-country train passes (like Eurail) from your total savings. Your remaining cash is what you have for daily living. Divide this by your total number of travel days.
  2. Select your tier of accommodation. Dorm beds in Western Europe average $30–$45 per night. In Eastern Europe or the Balkans, you can find quality dorms for $15–$25. If you are staying in a city for more than 4 days, ask the hostel for a weekly rate.
  3. Set a daily food ceiling. Allocate $20–$25 for food. Use hostels with kitchens to cook breakfast and dinner. Reserve your 'dining out' budget for one local meal per day, typically lunch specials which are cheaper than dinner menus.
  4. Prioritize transport costs. Use FlixBus or BlaBlaCar for long distances to keep costs under $30 per leg. If you must fly, stick to budget carriers like Ryanair or EasyJet, but remember to factor in the $30–$50 cost of getting to and from remote airports.
Is it cheaper to use a Eurail pass or buy individual tickets?
If you are moving every 2–3 days, buy individual tickets at least 4 weeks in advance. Eurail is only cheaper if you are traveling spontaneously or covering vast distances (e.g., Madrid to Berlin) frequently.
How do I avoid bank fees while traveling?
Use a bank card that does not charge foreign transaction fees, such as Revolut or Wise. Always decline the ATM's 'conversion' option; choose to be charged in the local currency to get the mid-market rate.