1. Budget: Your budget doesn't dictate the amount of fun you have on your trip, it does however dictate, how you have fun on your trip. Take Japan for instance, Tokyo, Japan is rated the second most expensive city in the world for travelers, and yes to sit down at a sushi restaurant in the heart of Tokyo could easily cost you upwards of $70 a head. However to truly experience Japan why follow the line of locals to the popular ramen houses of the city and enjoy a daily set menu for around $20 a person. Let's put in on a metaphorical scale, $60 for a small amount of sushi and being surrounded by westerners, ( I can get that here), or $20 for local food cooked by a local, while being surrounded by locals. I'm pretty when I travel it's to experience the country and culture, now that's worth the $20.
2. Language: When in a foreign country, learning a few key phrases is crucial to making your trip a success, I hate to break it to you but english, much like Visa is not really accepted everywhere. Learning to communicate in another language not only makes your trip much easier, but it shows the locals you are not another ignorant "westerner" and they are usually much more willing to help you. Besides I would rather attempt a language, and laugh at my mistakes then thinking if I speak louder and slower but still in english they will miraculously understand! It just doesn't work.
3. Itineraries: Throw them out the window, perfect now go see the sights. I'm not saying go in blind and hope to find something interesting, but don't watch the mountain peak all day and miss the beauty of the climb. Every day pick one or two things you just have to see but take your time getting there and enjoy everything along the way. Perhaps ask some locals their favorite areas of the city or where they like to go on their weekends off. You may stumble upon a gem not included in your travel guide. It's cliche but "it's the journey, not the destination".
4. Luggage: Throw it out your window too, I'm kidding however be very selective with what you bring. If you are like most you will end up bringing things that will never see the light of day, and when you're carrying a bag on your back it feels like little gnomes are putting rocks in it every night while you sleep to make it heavier for you the next morning. Pack light, do laundry abroad if you have to, this company http://tiny.cc/xr2noweeblylink_new_window makes underwear that boasts "17 countries, 6 weeks and one pair of underwear". Take a look at Rolf Potts, and his challenge of traveling around the word with no luggage. His site can be found here, http://www.rtwblog.com/weeblylink_new_window
I hope this helps you long the way, travel and explore the world out there, it's a wonderful place, full of amazing people.