1. Fly low-cost airlines. LCCs include Zoom, Flyglobespan and Eurofly who now fly between the United States and Europe. Also some of the big ones are attempting to match the budgets in some areas such as Air France who began a morning flight from New York to Paris earlier this year.
2. Websites to get good deals include Travelzoo.com and Airfarewatchdog.com
3. Try budget hotels. Eurocheapo.com offers budget hotels reviews in many European cities. A few are even unusual such as convents and apartments. On HomeAway.com and Rentalo.com you can find property owners and managers who are willing to bargain.
3. Within Europe, budget airlines hop about the continent fairly cheaply. You will need to keep you luggage small and light as charges rise for larger bags
4. Another reason to travel light is so you can bypass airport cabs and use subways and buses to keep costs down.
Just think: more to spend on good stuff, like business, or communications, or drinks, er, with business associates of course!