You work months and collect some fund upon which you have planned your trip. But during the trip your wallet seemed to have lots of holes, some are larger and some are smaller. In order to make optimal use of your budget, you have to try to patch those holes or at least try to shrink them a bit, so that the fund you planned will suffice and you will be confident to push few days further on your trip plan if you have to. 

It is better to plan your major expenses beforehand and prepare a budget for that. This will also determine how you will pack. For example, if you are planning to go economic, you better carry a tent and camping kitchen set. But you have to buy food and other regular stuff. If your trail is not that remote and your wallet is thick enough to afford a hotel/motel, you can travel light. 

In whichever plan, you can easily overspend, if you haven’t paid enough attention. 

  1. Eat what the locals eat and at the place where locals eat: We travel to experience local culture, lifestyle and observe the natural beauty. After the massive globalization, you can find items from back home and you can find restaurant servers what you can get somewhere else. Eating a burger at a fancy hotel is less sexy than eating corn flour pancake at a local tea shop with local peoples. 
  2. Ask the price before eating/using service: Everywhere there are opportunistic who always tries to rub money out of tourists. Before eating/using anything, first ask the price, ask a few other options and then only decide. If you hadn’t asked first then you have no choice other than to pay silently or create a mess with neighbors and surroundings. Asking for the price beforehand have two side effects. First, you will let them know that you are conscious about your money and second they will assume that you have not decided yet, hence they will try to offer their best to have you.
  3. Keep a record of your expenses: Keeping a record of your expenses will let you know what are you spending too much on and along with you will also know exactly how much you have at your disposal.
  4. Have some cash on stash: Stash is the money which you will spend only if it is absolutely necessary. For example, if you are in a remote location and there is no way you can get more money, use your stash to go up to cash machine.

On my last trip, I was doing a long trip around Nepal and I had a slogan with me, maybe due to this, people were offering me food and shelters for free most of the time. I just spend one-third of my budget at that time.