I think it also depends on whether you are prepared to sacrifice your home 'standards' and 'prejudices' for the lifestyle of the countries you are visiting .... buying accommodation in local hotels or b&bs with all their local 'colour' rather than in standardised sanitised and bland international chain hotels, and also where you eat and when - it will cost substantially more to eat at the times you would in your own country versus the local meal times (eg an early 6 pm dinner in Spain will be very pricey because the restaurants do not generally open till later).
And that can be applied to purchases of goods - your favourite brands versus the local products in different packaging ................
Budget travel allows one to discover places and cultures more frequently than if you were paying rack rates and standard airfares, but you should also change your frames of reference to suit the norms for the country you are visiting. Not always easy to do at first glance, but a challenge worth undertaking.