To see my answer, click on some of the most frequently asked questions:
- the type of person you are (luxury versus adventure),
- what kind of trip you are taking (ticking off important destinations, or just ‘going with the flow’),
- the speed of travel (flying versus overland)
- the length of your trip (if the flight ticket alone costs €1000, it makes sense to stay longer than a month)
- the type of transport (taxis, hitchhiking or public transport),
- your accommodation preferences (hostel dormitories, single room, camping or Couchsurfing),
The cheapest form of travel is slow, overland and flexible travel; staying at friends or Couchsurfing also drastically cuts expenses.
Personally I think €45 per day is too high. Daily budgets of typical travellers that I know usually range between €25-40 per day, or around €750-1200 per month. This is a daily average if you count up all costs: visas, transportation, vaccinations, food, accommodation, insurance, etc. That way, it is possible to have days where you will only spend €5, while other days are more expensive. Cheaper than €25 a day is definitely also possible. For this, you need to think about hitchhiking, not flying to a far continent only for a short visit, travelling through eastern Europe, cooking in hostels, etc.).
If you want to know more about how I try to stay safe while travelling, read the travel tips that I publish on this website.