I am currently 18, although don't plan to go yet (although I would love too!)
How much will it roughly cost?
This depends completely on your travelling style. An average backpacker would probably need (all USD) $75/day in North America, $30/day in South America, $90/day in Europe, $?? in Africa (no idea whatsoever; costs should be generally low, but there's lack of infrastructure which will probably drive up costs again), $25/day in South East Asia, and $50/day in Australia. That's including accommodation, food and local transport, but excluding transport between countries or too many "activities" (daytrips, tours, skydiving, etc). Some rare individuals can get by with much less, living amazingly frugal lifestyles. Others blow through three times these amounts without any trouble, just by going out and having a good time.
Will it be easy to get a little job from time to time just to get by?
If you have a visa which allows you to work, that depends. As a UK citizen, you can work anywhere in Europe. You can easily get working holiday visas for Canada, Australia, New Zealand and a few South East Asian countries, plus it's relatively easy to find English teaching jobs in other South East Asian countries where the necessary paperwork should be taken care of for you. You will not be allowed to work in the USA (and don't even think about finding work illegally - they're seriously harsh about that), and finding work in South America, Africa or South East Asia is usually not attempted (outside of teaching English for a year) since the wages are too low to really allow you to save up for further travelling. (Obviously there's exceptions to everything I'm writing here, but this goes "in general".)
Then, if you're allowed to work, you can probably find low paying backpacker jobs without too much trouble (callcenter, fruit picking, or if you're really lucky general office work). It gets much easier if you have in demand skills, specifically nursing, IT or construction. Experience working as a cook, waiter or barman can also come in handy.
Where would I stay?
Hostels while you're travelling around (or guesthouses in SE Asia), shared appartments when you're settling down in one location for a couple of months to work and get your cash reserves back up.
anyone think it's good or thing's I can improve?
Since you don't have any experience doing this, I'd change the order of things. Start with a year in Australia or New Zealand (after perhaps a few weeks just vacationing in North America or SE Asia). They both have superb infrastructure for backpackers, easy working holiday visas, relatively cheap living costs, enough interesting sights to last you quite a few months, and will allow you to develop a routine and feeling for what it is you like to do, and how you like to travel, plus - if you work hard - potentially to build up some funds for further travel. Then based on that you can head out to other places where it's not quite so easy to get around.
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