College students getting ready to fly overseas to study abroad should do their homework on budgeting in a foreign country. In the Chicago Tribune article, Do your homework on budgeting for Europe, Carolyn Bigda reveals great tips on how to minimize your expenses while maximizing your opportunities abroad.

According to the latest survey by the Institute of International Education, 44 percent of study-abroad students went to France, Germany, Ireland, Italy, Spain or the U.K.. These countries in Western Europe are remarkable destinations to visit but unfortunately, exceptionally expensive for a college student.

What makes them so expensive? The exchange rate. The current foreign exchange rate for one euro is worth up to $1.37 in the U.S. and $1.60 for one British pound. It is important for students to do their research and anticipate the exchange rate when budgeting for their trip.

Let’s face it, everyone wants to shop, eat out and sign up for fun activities when traveling. Tips to minimize foreign exchange rate fees check out the full article here: Do your homework on budgeting for Europe