I HIGHLY recommend people do a backpacking trip around Europe, it will be a trip you'll remember for the rest of your life...
I toured around Europe for almost six months when I was 21. I started in the UK, made my way down to Greece and back up all the way to Finland and back the UK for my flight home. I used two one-month Eurail passes for the bulk of my traveling. My hostle pass made things much cheaper in the Northern countries, but I found it cheaper to share hotel rooms with other travelers while in Italy and Greece. We had a 3 room hotel in downtown Rome with 9 people in it, it cost me about 7 Canadian dollars a day. Whole lot of fun was had there LOL.
One way of saving money was taking a night train (while using Eurail pass) and sleeping on the train. You wake up in a different place, ready for you next adventure.
Look for discount tickets for touristy places, they seem to have deep discounts for young people if you look in the right place.
I had two car rides during my whole trip, once in Liverpool and the other time in Stockholm so I can't speak to the hassles of dealing with cars. I was in Holland last year and it cost me $75 to top up my friends Honda Civic.
I walked across a country in one day LOL. Lichtenstein is a very small place and one of the "things to do" is walk across the country.
My whole trip cost me about $3000 including airfare.
It still amazes me that I was able to live out of my backpack for so long without a care in the world. I'd do it again in a second. The fact that you are even considering doing it is a great plus.
I could go on and on about my trip, but I'll leave it there for now. PM me if you have a question.
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nice line eh?
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