4. Look for cheap accommodations

Do your researches, when booking accommodation and try to spend at least 30 minutes comparing sites (hostelworld and hostelbookers) and by looking for reviews of different places. Then start looking at the location of the hostels or guesthouses. Look if you need to get public transport to the cheaper hostel? Would this then make it more expensive? Was there a decent guesthouse within walking distance of the bus stop? Or would they offer free pick up? Things like this will only save you a few bucks here and there but it all starts to add up.

5. Live like a local

No matter how swank they may be becoming, hostels just aren’t for everyone. You can replicate some of the benefits of hostels and remove a lot of the downsides by renting an apartment or condo at your destination. You often get a great rate; you can cook a majority of your meals and often do your own laundry.

Sites like AirBnB allow you to browse photos and descriptions of short term rentals available for as little as one night. Another thing to consider is: renting out your own place while you are away. The money the renters pay can be used to finance your trip!