I got back from Paris and London yesterday. Here are some pointers:
-Pack light, and make sure you can carry all of your bags (as opposed to wheeling them around). Many streets in Europe are cobblestone, which will make wheeled bags really annoying.
-Do not bring a ton of cash or traveller's cheques and expect to exchange them at the airport. The exchange rate is worse than at an ATM, and you get charged a commission. Foreign ATMs don't charge you a fee like domestic ones do, and most major banks (Citibank, HSBC, etc.) have branches in major foreign cities.
-Wear comfortable shoes.
-If you plan on doing a lot of shopping, bring a collapsible duffel bag. A few years ago, I got one from REI that folds up into a little 5 by 5 square, but it's a pretty big bag.
-Take travel-size toothpaste, etc. It takes up less space, and you can throw it away before you go home.
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