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Life's too short for bad pizza and expensive trains.
I'm used to trying to cram in as much stuff as possible while on vacation to make sure I can see and do everything. But if you're traveling for a long time — i.e., more than a couple of weeks — you need to build in some downtime to your itinerary. Give yourself a day every week where you can just sit and watch Netflix with no guilt, otherwise you'll burn out pretty fast.
Giving yourself a daily budget is all well and good, but some days you'll need to buy pricey train tickets and others you'll only buy a meal or coffee. Having a monthly budget reduced the stress a little and made me more open to splurging on a nice meal if my spending was on track. You can get a great tracking app, like Tripcoin, to do all the math and conversions for you.
Italy, France, and Spain are all pretty great destinations, and it'd be easy to spend all your time in the western countries. But don't miss out on heading farther east. Countries like Poland, Bulgaria, Albania, and Czechia (to name a few) are all incredible. Plus they're usually a lot cheaper and not as busy as the trendy western cities. During the summertime, I could get by on $30 a day in the Balkan countries, while if I was in Italy, a hostel bed alone was $40.
Really popular spots, like the Greek Islands or Cinque Terre, get super pricey in the middle of summer. You're better off saving them for the shoulder months, like April and May or September and October. Things will be way cheaper, and there'll be a lot fewer people as well.