Money Matters

HOW MUCH $$?: The question that comes up most often is, “How much money do I need to take on the tour?” First, consider that Visa and MasterCard are widely accepted.  Check with your credit card company and determine if they charge a Foreign Transaction Fee since this could increase the cost of your purchases.

Breakfasts and one other meal, usually dinner, are included but you will need to provide for that third meal. Figure on $10.00 - $15.00 a person for a quick inexpensive lunch and $30.00 for a splurge. Drinks are not always included with the meals–often you will end up paying for water. Remember soft drinks can be as expensive as wine and beer.

Entertainment expenses will vary and a number of attractions are included as part of the tour. However, there may be museums, concerts and other events that you want to go to that are not on the itinerary. Bottom line, an absolute bare minimum for meals & miscellaneous - figure $20.00 - $30.00 per person a day.

ATMS: The value of the dollar changes on a daily basis.  The best way to change money is to use an ATM card.  Check with your bank for any fees and if partner banks are available.  Partner banks may waive the additional ATM fees.  Cash machines are universally available and work around the world the same way.   Typically they use 4-digit PINS only.

With ATMs, (Bancomats, Cash Machines) you will have the option of “Accepting with Conversion” or “Accept without Conversion.”  Use the Accept without Conversion option to receive a better exchange rate.

Foreign ATM machines will accept your Visa, MasterCard credit card and some will accept American Express.  Check with your card issuer to determine if arrangements are needed before the trip and what additional fees will be charged.

Practice Security when withdrawing from any ATM and be aware of your surroundings.  Quickly and discreetly count your money.  Always secure it in a neck safe or money belt and not in your pocket or purse where pick-pockets can easily relieve you of your funds.

Locally, your own bank or AAA office can provide you with foreign currencies, but you will usually have to make the arrangements 3-7 days ahead of time.

Have more than one way to access your funds. Carry some US$$, an ATM card and a credit card or two.  Shop around for a credit card that gives the best rate of exchange and no foreign transaction fees. There are a number of them that only charge the basic 1%. Others charge 2% - 3%. On a major purchase this can add up.  Check with your bank and credit card companies before the tour.  Many no longer require advance notice that you will be out of the country.

Travelers Checks are not recommended.  They could be difficult to use.  ATM card use is  much simpler. Also, you won’t need to carry much cash when you can use credit cards for most purchases.

Introduction of the euro (€) has made life much easier for travelers, allowing travel from country to country in the Europe Union without changing multiple currencies.  The smallest bill is a €5.00. There are €2.00 and €1.00 coins, along with other smaller coins.  You can end up with a lot of pocket change. A change purse is recommended.

TIPS:  Tipping in Europe is not the same as the US.  Tipping is a personal preference and you determine what is right for you.  Below is for recommendations only.

  • Restaurants, 5% - 10% is normal if Service is not included on the check.  10% is considered a big tip.

  • Hotels with porters, tip a euro for each bag. It’s optional to leave a small tip in your room for the housekeeping staff when you leave.

  • Local guides consider €2.00 - €5.00 per person.

  • Guides with the group for multiple days consider €5.00 - €7.00 per person.

  • Local coach drivers - consider €1.00 - €2.00 per person.

  • Coach drivers with the group for city to city, multiple days - consider €3.00 - €5.00 per day, per person.

SHOPPING: Not only can you find arts and crafts from the local area, but also manufactured items that aren’t carried in USA stores. Also, we like to visit department stores to see what is offered, see what the locals are buying. It is another way of getting to know the people.

Based on personal experience and the suggestions of previous groups, here is a list of do’s and don’ts:

  • Do use a credit card for most purchases especially major purchases. You’ll get the best rate of exchange.

  • Don’t carry large sums of cash or passports in your pockets or purse.  Outsmart the pick-pockets.

  • Do look for items that are unique to the city, region or country: glass and masks in Venice; paper, leather goods–coats, gloves in Florence; majolica pottery in Tuscany; mosaics in Ravenna, perfume in Paris, carved wood from Bavaria, handicrafts from everywhere.

  • Don’t expect to see the same items throughout Europe or even throughout a country: i.e., don’t try to buy a mask in Ravenna or mosaics in Florence, or leather in Venice.

  • Do look for Christmas or birthday gifts that are unique and not found in the USA.

  • Do think of picking up guidebooks, note cards, and postcards, at your favorite museums. That way you can relive your experience over and over after you return home.  Also, look for reproductions (both painting and sculpture) and posters at the museum shops. These items are truly unique to the museum, city, and region.

  • Do consider shipping home large or expensive items.

  • Do consider bringing a sturdy folding bag for souvenirs.