Lets start by saying travel is NOT CHEAP. But there are ways to save some money while travelling. For one; try to use the public transport in a particular country. Most 1st world countries have superb public transport. If you are visiting a 3rd world country like SOuth Africa, rent a car. This will also save some money and time.
I would also suggest to visit the first supermarket you can find. You will get a good idea of what things in the particular area cost. You could also buy some local fresh foods instead of take-aways such as MacDonalds or Kentucky Fried Chicken. Just be aware of strange foods - it may cause some stomach issues...
One other thing I found is worth doing, is to take along some small snacks such as peanuts or dried fruit. When you buy loads of snacks on your ways your cash will run out quickly. Oh, and dont forget your water bottle. Fill it up in the hotel each night.
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