If you are planning to making the budget to explore the Europe then you should consider the costs of Europe by Region.
There are many option for hotels and motels but every single hotel has different cost for living.
If you are traveling in group then you should avoid hotels or motels and look for apartment rental as this would be less expensive.
The best way to save the money while traveling as a backpacker nomads is to working abroad.
It is upto you if you want to save your money on food as you can have meals from small restaurants to make your expenses in budget.
Choose the destination where the value of money could me more and you can do more things within your budget.
Traveling slowly is one of the easiest ways to cut your daily budget on your backpacking trip.