The Commerce Times

Going broke in Europe

If there is anything I miss about Toronto, it’s the cheap food. Even in the downtown core, it’s easy to find a restaurant that serves a decent meal for a decent price.

Even if the food tastes awful, at least it didn’t cost you an arm and a leg. Mentally, you walk away feeling somewhat satisfied; physically, not so much.

If you’re a stingy person, don’t live in Europe. Once you do, you’ll never eat out again.

Though many countries in the euro zone are in a recession, prices for most items haven’t dropped.

In the Netherlands, inflation is actually on the rise. Although the high figures are driven by last year’s skyrocketing gas prices, even the price of homes has increased.

Of course, the Netherlands is an exception. But don’t expect to find a cup of hot chocolate anywhere in Europe for less than €2.60 ($4). I did manage to stumble upon a Tim Horton’s self-serve stall in Glasgow. I paid £1.50 ($2.65) for a medium hot-chocolate that didn’t even taste half as good. And I was required to make it myself.

You’d be better off ordering beer or wine. For €2 ($3.20), it’s cheaper than orange juice.

But for the avid travellers planning to visit Europe this year, remember this: save now, spend later. Once you land in the EU, you’ll realize the benefits of financial prudence.

Sale racks are virtually non-existent in department stores, so don’t go to the back expecting to find gold. Craving Chinese chow mein? It’ll cost you €6 per box ($10). And don’t forget to multiply all of the prices by 1.6 (or more if the Canadian dollar continues to nosedive).

If you’re a guy, you’ll probably go broke taking a girl out for dinner. And if you’re a girl, expect to pay for dinner yourself.

Learning how to cook isn’t a matter of survival; it’s a matter of avoiding bankruptcy.

Welcome to the euro zone – where everything (and I mean everything) – costs a fortune.

There are, however, a few exceptions to this rule. You can still find stores like Euroland (the Dutch version of the Dollar Store), or buy cheap towels and furniture at IKEA.

The standard of living in Europe is one of the highest in the world. Even in Ireland – one of the countries hit hardest by the global economic crisis – the price of a McDonald’s meal hasn’t budged. Expect to pay around €9 ($15) for a cheeseburger, fries and drink.

Introduced in 2002, the euro actually pushed up the prices of everything from household goods to food. The prices looked cheaper (€1 euro instead of 3 marks), but were actually more expensive than before. “The producers benefited from the euro,” says a student from Germany.

So how do Europeans manage? For one thing, workers are paid in euros, which is reflected in the higher cost of living. The minimum wage in most of the Northern European countries (Ireland, United Kingdom, France and Germany), for instance, is around €7 ($11). By Canadian standards, it’s quite high.

So maybe the saying, “going Dutch,” isn’t so far-fetched after all. I’ve been living here for two months and I always think twice before I spend.

Case in point: I spent €17 ($28) on groceries last week, which was enough for only four days. But a friend of mine was kind enough to cook extra food for me, so I ate the same meal for three nights in a row.

I’m not suggesting that it’s impossible to survive in Europe. My advice? Prepare a budget or plan before you go, because it’ll benefit your pocket in the long run.

These are the days when I miss eating $4 bowls of Vietnamese phở.