There are so many options for people travelling now. You can get away with travelling on small budgets. Let start cheap and work our way up.

Couch Surfing is amazing. I have used this service as both a surfer and a couch. While I travelled around Europe with a friend we found some great places to stay, for free. You are literally staying on someone’s couch or in their spare room. It’s customary to bring them a nice gift or take them out for dinner but you save so much money for a places much nicer than a hostel. It’s also great because people who are lending their couch are there support the community of travellers and have great tips for what to see and where to eat. It’s a great way to get some insight from a local. Remember to respect their things and their rules. Unlike a hostel you will not be able to come and go. Most hosts have work and things to do, so you will be locked out during the day.

HelpX is a way for traveller to match up with volunteer work, for a small fee (26$US for two years). Remember that as a traveller you most likely can’t take on jobs to make money. Helpx.net connects hostels/farms/boats/other with travellers who are looking to work in exchange for room and board.
I used this site to work at hostels in Scotland, The Netherlands, and Bulgaria. I was able to stay in the hostel for free and breakfast was included. This meant that I was on my own only to find dinner and lunch. Some places will find odd jobs for you to do in exchange for cash under the table. I bar-tended for parties at one hostel and I painted at another. I met lots of great travellers and made friends with many of the others who were also working at the hostels.
It’s not just hostels. There are farms looking for workers, boats looking for workers, families looking for nannies or tutors. There are a plethora of things for people to do to offset the cost of travelling.

WWOOFing stands for Willing Workers on Organic Farms and this site also helps travellers find farms that can work on for room and board, for a small fee (20 Euros for 1 year). The challenge with WWOOFing is that each country has it’s own site and fee to be paid so if you want to do this in multiple countries you have to sign up multiple times.
I did this in Germany, working on a goat farm with a friend. We herded goats, we milked goats, we shovelled goat poop, and we always have fresh milk and cheese on hand. It was a wonderful time and such a learning experience.

Hostels are a great way to travel on the cheap if you don’t want to be tied to one place for a bit as you volunteer. You can choose your level of comfort, do you want to share a room with 3 people, 7 people, 15 people? Hostels are a great way to meet other travellers and learned about all the great places they have been to. It’s also a way to find short term travel company. If you plan to do this remember to be safe. I have met many people this way and the best part is if they don’t make good travel company you can leave them and head off on your own again.
There are many hostel websites out there. Be sure to compare prices and always, always read the reviews. Travellers are going to be honest and let you know if the places is worth the cheap price.

Hotels are nice when it is time to get away and have your own room. Many times I have found budget hotels that have private rooms for cheaper than I could get a private room in a hostel.
When booking hotels I use Hotels.com. They have a rewards program of stay 10 nights and get a night of average value free. This means they add up the cost of your 10 nights and divide by 10 to find the value of your free night. If you are travelling frequently this can add up.
There are many other sights like booking.com or Expedia.com that also help find discount hotel rates.
If possible stay in a favoured chain of hotels that has a rewards membership to collect double the points. Also if you are a member it is more likely you will be bumped up if needed. Don’t be afraid to have a credit card with your preferred chain of hotels or airline to get better benefits. The earlier you start this the more time you have to climb the rewards ladder. Be sure to pay off your credit card monthly if possible. If you hold a balance you are giving the credit card money you don’t have to. If you don’t carry a balance you don’t pay interest.