Flights in Europe and Asia can be quite inexpensive compared to the rest of the world. So flying is a good option, particularly if you need to cover great distances. Last year, for a short trip to Europe to visit friends (on my way back to the U.S. after two months in Africa), I flew from Amsterdam to Vienna to Barcelona to Rotterdam/The Hague for a total $378, with one of the tickets purchased a few days before departure. To save money on OBB, the Austrian railroad, I purchased online a roundtrip ticket from Vienna to a town in Styria for 18 euros, a significant discount to the full fare. I got the discount because I bought the ticket two months in advance of the travel dates (which were determined by my flights to/from Vienna). So traveling in Europe can be at reasonable cost. You've already done quite a bit of research; that's good. Even so, I suspect the cost of transportation and lodging will consume most of your budget ($3,000 to $5,000 -- is it for one person, or is it three persons, for two months? If it’s for three persons, then the budget is very tight when spread over 60 days). In my experience, food won't be a major expense. You can shop for groceries; and eat in ethnic restaurants, such as Chinese or Thai. If you’re a student and have the proper ID, admission to museums won’t cost as much. But depending on how much you want to see and do, it can add up. There are other ways to shave costs. For example, the Vienna State Opera sells standing room places (I recommend Parterre Stehplatz) for a few euros about 90 minutes before each performance at the standing-room box office. Finally, is your trip this year, or in 2016? If it's 2016, it's too soon to book flights and rooms. But it's OK to budget and plan where you want to go. I find it helpful to do a timeline listing dates, cities to visit, lodging; and flight information. You get a terrific overview that way, all on a page or two. I still think a pared down itinerary is better. My 2.5-week trip to Europe covered quite a bit of territory. But my purpose was to visit friends, not to sightsee; friends that I met on earlier trips, including the Austrian family that first opened their home to me 41 years ago.