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Introduction

Does the economy have you down? Are you afraid of traveling to the magnificent city of Venice because of financial woes? Do you find yourself dissatisfied with guidebooks that do a terrible job explaining how to live on a budget in such an expensive city? Well, prospective IQP students, rest assured - your prayers have been answered.

Hello, my name is Felix Nwaobasi. Like my B'08 counterparts, I traveled to Venice to complete an IQP. But what made my trip to the picturesque "city on the water" so extraordinary is the fact that I managed to spend a quarter of what one is expected to spend in their eight weeks abroad. On the day I boarded my plane back to the U.S., my expenses amounted to a mere 463,30€ ($588.32). You read that right: four hundred and sixty Euros! "How did I manage such a feat?", you ask? Fret not, prospective IQP students, for I have documented the steps I took during my journey to ensure that my expenditures were kept to an absolute minimum.

The Basics

Unavoidable Costs

Let's start with the bad news: you will have to spend money at some point. It's painful, yes, but nonetheless unavoidable. Below, I have listed the occasions that required me to spend money during the term, and also the rough amount of money you will be expected to spend at each.

• First All-Student Dinner at Pampo's: This usually occurs within a week of your arrival in Venice. It is a great time for all the students to converse about their early impressions of Venice and to experience a Venetian restaurant. Prepare to acquaint yourself with all of SpongeBob's friends - fish and seafood will be front and center on the menu - and to be treated to the finest in Venetian cuisine. Vegetarians and fish-haters will be accommodated. Expected price: 15€

• Dining with Fabio #1: The date of this event depends on which IQP group you're in; each group will be randomly assigned a date for this dinner. It will be held at Pampo's again, with special dishes being served on this special occasion. Prepare to be treated to a night of delightful conversation and anecdotes. Expected price: 5€

• Thanksgiving Extravaganza: This dinner usually occurs during the week before Thanksgiving, given that most students are traveling during the break itself. It features a night of delicious food and camaraderie, provided by you. That's right; all students will be expected to cook and prepare the Thanksgiving dinner (there is no Food Network in Venice, so I would advise the culinarily-challenged to begin preparing now). Expected price: 10€

• Dining with Fabio #2: After you have become properly acquainted with Venice, it is time for you to act as host, not guest. In this second dinner date with Dr. Carrera, you and your IQP group will be expected to select an evening to host and serve your advisors dinner. The dinner may have an effect on your grade, so make sure it's not a botched event! (Just kidding about the dinner affecting your grade, but make sure the food tastes good anyway. Fish is highly recommended...highly!). The dinner will definitely lighten your wallet, but if done properly, it will be worth it. Expected price: 25€

• Farewell Dinner at Pampo's: This occurs during the final week of your term in Venice. It is a great time to reflect and reminisce on your time in the city, as well as to enjoy great, cheap Italian cooking one last time. Kleenexes are recommended. Expected price: 15€

Managing Your Money

Now that the bad news is out the way, let's move on to the good news: there are lots of ways to budget your money. There are three major areas where you can control what you spend: communication, shopping, and food. Let's start with the most pressing issue, food.

Food

Believe it or not, the solution is rather simple: cook your own food. More specifically, go grocery shopping with your roommates on a weekly basis, and buy whatever you feel you may need for the week. The basics (bread, milk, eggs, pasta, etc.) usually amount to no more than 15€ per person per week. If you want to live on the wild side and be a little crazy, you can spend money on items that aren't exactly necessities, e.g., cereal, hamburgers, snacks. Regardless of how you divide the food shopping, this plan, if followed, should ensure you spend no more than 30€ a week on groceries.

Grocery store suggestions: Billa, Punto SMA, & the Co-op.

Sidenote: You may occasionally be invited or tempted to eat out in a restaurant. In the words of Nancy Reagan, "just say no!", or, perhaps more realistically, "maybe some other time." If those hunger pangs do get the best of you, and you're not in the mood to cook, there are a few cheap places where you can get a decent meal for cheap. But, and this is important, visit restaurants sparingly, unless you want to spend upwards of 20€ on a meal (Keep in mind that 20€ is a whole week's worth of grocery shopping!). Venice, being the place it is, is full of touristy restaurants that are guaranteed to rip you off.

Eat-out suggestions: Bepe's & The Snack Bar

Shopping

This is where it gets a little tricky. Some of you may be aware that Venice (and Europe in general) is a place with an abundance of souvenirs. If you are tempted to buy one of these souvenirs, be smart about doing it. My advice is to check and see if anything you want in a store can be bought in the streets, because the streets are where the deals are. Below is a list of items you can find sold by vendors on the street:

• Clothing: Interested in cheap clothing? In need of a nifty apron or some cool sunglasses? Well, you can find lots of these (and more) in the streets of Venice. Always haggle, and don't be afraid to walk away. Suggestions: The aprons are awesome!

• Bags: The "best" in high-fashion bags can all obtained from street criminals, who are mostly Senegalese illegal aliens with no permits to be in Italy. From "Gucci" to "Fendi" to "D&G", you name it, they've got counterfeits for sale (be advised that this is an industry heavily supported by the Mafia). Should you, for whatever reason, wish to procure one of these items at a low price, you must first master the 'art of haggling.' For instance, if a vendor says that a bag costs 50€, what he's really trying to tell you is that it costs 15€. If you look him in the eye and continue to tell him that you will pay no more than 15€ for it, he will most likely sell you the bag for 15€ in the end. You can always walk away; the next guy will have the same items for sale.

Sidenote: Try to avoid buying any counterfeit items when the police are around, because it is definitely against the law. And if you see throngs of bag sellers running through the street, don't be alarmed; it means that the police are around and the criminals are rapidly relocating.

• Miscellaneous- Along with the items mentioned above, there are also toys, gifts, jewelry and a plethora of other items to be purchased from street vendors in Venice. It's just a matter of keeping your eyes open, looking for the best prices, and not being suckered by scams (of which there are many).

Sidenote: Do not buy umbrellas; they will break as soon as it gets windy. You will find many broken umbrellas discarded by the citizens of Venice. I advise everyone to save themselves the 5€ and use any of the discarded umbrellas you find throughout the city.

Communication

A wise man once said, "friends don't let friends spend money." Keep this in mind. My first bit of advice is to make sure you have a T-Mobile or AT&T phone, so that you won't have to spend a whopping 35€ on a new, Europe-compatible (i.e., GSM) handset. You will be issued a SIM card that has roughly 5€ worth of minutes on it, and you can recharge this card with your own money following the instructions here. But here's where the real deal is: all incoming calls are free! So in order to save money, you have two options:

• Have everyone (in the USA) who wants to speak to you buy a calling card.
• AIM or Skype them.

I personally recommend the latter. It's free, and you also have the benefit of being able to use video chat, which is always a plus. So, if you're parents don't have screen names or Skype usernames, I would advise you set up their accounts and teach them how to use the software before leaving. Also consider, however, that internet is very scarce in Venice. You may have to steal wifi outside or conduct your calls in the Venice Project Center office, neither of which is ideal.

Remember to monitor your use of the 5€ placed on your SIM card. In this case, time is money, so use it cautiously.

A family that saves together, stays together.

Conclusion

In conclusion, following these guidelines will ensure your continued financial stability during your stay in Venice. Be sure to see as many (free) tourist sights as possible, and be sure to travel out of Venice, but in moderation. Despite what you may have been told, bankruptcy is not fun. Your IQP in Venice can be an enjoyable one if you remember to not only limit the negative personal experiences, but also the negatives in you bank account. In order to do so, you must adhere to what I have coined as the "Three F's":

• Have fun!

• Be frugal!

• Follow A Pauper's Guide for Living in Venice!

Best wishes in Venice!