Looking for cheap lodging alternatives? Check on campus.

Most colleges and universities offer dorm rooms to rent for next to nothing to non-students during the summer. The price usually includes meals.

Or, if you don't mind conjugating verbs while on your European vacation, check into an independent language-immersion program. A weeklong stay at a host home with classes can cost the equivalent of a night's stay at an upscale hotel in the US. Bonus: you'll get smarter on vacation! Now, who can make that claim?!

When buying souvenirs in a foreign country, be sure to pick up a copy of the local newspaper. Even if you don't speak the language printed, the newspaper makes interesting wrap for the gifts you'll take home.

Bonus points if the recipient is studying foreign languages, as newspapers are good tools for practice.