It is becoming more and more popular every other day...
If you are a passionate traveller with a low budget, and if you are afraid of not being able to afford travelling to different places of the world, why not being a part of the place you will be staying at and work at a hostel? As you will join the family, you will not get a salary but still, the most important thing, the accommodation by assisting them 4 days a week approximately. There are many others, like farms, pubs, schools by teaching, etc.. Only thing you need to do is to decide when and where to start, the rest will come along :)
I believe the hostel option is the best among all. By working at a hostel, you may meet many people from all over the world every day, also you can expand your mind, collect amazing memories, learn new things every day. You may also have some spare time to make money by working somewhere else or, if you can make money online, spend time on it.
I am going to be here with full of adventures when I will be in South America about 6 months as planned. I will try not to spend much and stay at hostels, and explore as much as I can. Because my plan is actually to open my own hostel in South America, therefore I better first observe at the exact place other than researching, I m on the side of the ones who say you can learn more by travelling than reading :)
Cheers guys.