Hotel? Hostel? Airbnb? or Couch?
Now that you've learned how to get really cheap flights all around the world: The Cheapest Flights Worldwide, and how to decide which airline you should use: Choosing Low Cost Airlines, the next thing you should plan is where you will stay during your trip?
There is several options in the market right now, and I will explain the must affordable and convenient options based on my experience, but mostly based on price.
Free Hosting: Yes! The first option to travel around the world with a really low cost is not paying at all for a place where to stay. Now this option isn't for the tourist person that usually wants to stay just a couple of days in a place and keep traveling all around. This option is more for those travelers that doesn't mind to stay for long terms (usually several weeks or months) in a place, and even it says free hosting, you will have to work in order to have a place where to stay. The website to have a look for this kind of jobs and deals is: www.helpx.net. You will find all kind of jobs in this site and a lot of them also for backpackers, so if you want a reason to get out of where you are and get to know other places in the world even if you don't have to much money, this is your call. You shouldn't have any type of hurry if you look to travel this way, and finally, this is not a good option for more than one traveler, usually this option is for those lonely travelers or globetrotters.
Couch Surfing: This is also a free cost option to stay at any place in the world and I would say my favorite. Couchsurfing.com has been for a while in the market and it's a website where you can find hosts in any place in the world, that means you will stay at someone's house and experience a local way of living, people allow you to crash their places usually in the couch or if you are lucky enough in a room for your own. Also you can become a host and get to know travelers in your city, which is also a cool way to give back. There is no money involved here, and isn't a company you are dealing with, so here you have to really trust in people and you can't be demanding on what people can offer you. In my experience the only bad thing of using Couchsurfing is that you will have to stay at someone's place so you will have to follow the house rules, and usually people will be in their day to day lives so not always you can get to know a local as much as you want to, or for example you can't arrive at any time you want to their home, but still is a great option to travel with a low budget if you don't mind to follow the different host rules. A big recommendation is to always ask to more than 3 or 5 people in a city or town for a place to stay because usually isn't that easy that somebody agrees to host you. Also it will work better for lonely travelers more than couples or a family or a group (couches fit one people usually), but there is always someone willing to take more people. I really like that the base of this system is trust between nice people, that is why I've used it before and I also like to host whenever I'm in home, so feel free to add me: https://www.couchsurfing.com/people/william-rogers-4
Hostels: Hostels is the favorite way to travel for backpackers all around the world, and I have to say it is my favorite way to stay at any place when you are a lonely or solo traveler. You will never be alone and always have a great company of other travelers like you, also is very common that you will find young travelers because is cheaper than hotels. Now the biggest issue here is that you will have to share a room with several people, and sometimes that can be noisy, not everyone is as organized and clean, but you can compare it to be in a summer camp. If you like partying there is several hostels that can guarantee you a good time. My favorite website for hostels is HostelWorld.com because they have grown a lot in recent years, and have many of the best hostels in the world.
Airbnb: With Airbnb you have the option of renting a room or a complete apartment or house for yourself in any part in the world. You will pay a daily rent for it and you can spect more services than using for example Couchsurfing but less than using a hotel. This is the best option for couples and group travelers because as a solo traveler usually it can be the same cost or even way more expensive than a hostel and you will not get to know other travelers. Also the cost benefit comes when you divide the cost of rent with more people, so yes this is the best option for more than one person traveling. Airbnb involves paying money between people trough their website, it's a cheaper option than hotels and you can find really nice places where to stay. If you have a free room, or a house or an apartment that you can't rent that often, publishing it at Airbnb can be a good option to win some money.
Hotels: Hotels is still the best option when you don't want to worry about anything while you travel and just chill and relax, I would also say that the biggest benefit is acquiring experiences. This two benefits won't come with a cheap price, so just take care you pay for what you really are getting back. It is also not such a bad option for couples and groups, and for lonely travelers it should be the last option you should get, unless you want to be treated like a king or queen with a spa and maybe any other amenities. There is a lot of hotel search websites in the world so I can't recommend one in particular. My only recommendation would be use more than one when comparing prices.
With this said, now you will just have to book the accommodation that fits better your wallet and what you are looking for, and your are almost ready to take a flight and enjoy a new adventure.