Budget Lodging

It may sound obvious but you should try and avoid double rooms. Go for a dorm room in developed countries as these offer much better value for the solo traveler and is also a good way to meet people. If you are in a developing country then your own room is more realistic.

In developed countries it might be worth lugging a tent around especially if you are not that keen on sharing a dorm with others. Many hostels will let you camp in their grounds and use the facilities for a cost less that a bed.

Budget Travel

Try and not travel around too much especially if you are on a tight budget. Travelling can really eat into your budget.

When you do travel try and share a car with another traveller if you can. Public transport is obviously the easiest way to get around on your own but try and avoid tourist services and travel as the locals.

Even if you are travelling solo then still consider a car in countries like Australia and New Zealand because there are potential savings. If you time it right and by a car at the end of the season you maybe able to make a profit if you sell it in a popular season. Don't forget to put up notices in all the hostels you stay stating you have spare seats. Splitting the petrol will help a lot.

Eating on the cheap

Always try and avoid touristy restaurants. These will be more expensive and often the food will not be as good. Don't think that the hygiene will be any better either!

In Asia night markets are great places to go for an evening bite. They are very cheap and are great places to meet other travellers and locals alike.

In developed countries it makes sense to go self catered where you can.