3. Consider what you'll lose with a budget international airline.

Weigh the pros and cons of a budget airline before seeing the $500 ticket and taking the plunge too rashly. Where do they fly out of? Most budget international airlines fly out of and in to very specific airports, so unless you live in one of these cities, you may have to make a long drive. Unless you know someone in that city who can hook you up with a parking spot, you could be accruing over $200 in parking fees for the weeks you're gone. Budget airlines also often charge extravagant fees for things like checked baggage, allocated seats, and food. If sitting with your travel buddy or having an included meal on the transatlantic flight is important to you, paying $200 more might be worth it for your mental health.

4. Maximize your schedule's efficiency.

It's all in the scheduling. Worried that they don't serve dinner on the budget flight? Take the overnight flight that takes off after dinner and pack snacks for breakfast. Want to see another destination, but don't want to spend money on a hotel? Choose a flight with a long layover at an airport near a major attraction (hint: Iceland layovers at the Keflavik International Airport give just enough time to visit the nearby Blue Lagoon and there's even a shuttle bus to and from KEF). This might involve sleeping in an airport, but trust me, sometimes it's worth roughing it to save the cost of a hotel, especially in a super expensive country.

5. Sometimes taking the bus isn't worth it.

Don't only look at your trip's costs in terms of money, but also in terms of time. If the bus is $14, but takes 5 and a half hours, while the train is $40 and takes 2 hours, the train might be worth it in the long run. Remember, you're there to see and experience things! If you want a trip to be memorable, you won't spend it languishing on a bus and arriving in a city as the museums and attractions all close.