Hello All,
Suggest you fly from the UK to any of several cities in eastern Europe, such as Krakow, Prague, Budapest, etc., on discount carriers such as EasyJet and Ryanair. You'll be surprised at how reasonable the fares can be. Many railroads offer discounts. Just ask at the ticket office, or book online in advance. The Austrian railroad, for example, offers a SparSchiene fare from Vienna to either Budapest or Prague for 19 euros, or about 13.7 pounds. Rail passes can be pricey, unless you want to spend most your time racking up the kilometers. One of your biggest cost -- if not the biggest -- is lodging. Check out the options online before you go. You'll get an idea of the cost; and availability. Food will consume only a fraction of your budget, unless you have fancy taste buds. If you travel lightly, you'll have less to worry about; and more flexibility. Smaller towns can be more affordable than big ones. You're doing the right thing by doing some advance planning and budgeting. I always do. Hope this helps.
Personally i would bin the complexity and long journey overhead of megabus and build your trip around some cheap Ryanair flights straight to nice cheap eastern Europe.
For example find the cheapest days they go to warsaw and back from Budapest, connect the two overland with trains via say krakow Prague and bratislava but I'm not sure a rail pass is worthwhile in eastern Europe. Just how much territory do you want to cover? Trains over there can be pretty cheap but if you slow your travel you're paying less in fares and seeing more depth of fewer places.
You said you got stuck there - next step you could price up hostels in the cities on your route using hostelbookers, and personally I'd then Google the hostel's own website to book direct - (having had a bad experience of hostelworld booking me into a closed down hostel.)
German railways site has full European timetables www.bahn.de though you may need to go to the individual national sites for fares. You can then flesh out a schedule and tot up costs.
Eastern Europe can be very cheap. In Poznan in Poland last summer we were eating out for £2.50 for meal and a drink - the trick is to get beyond the tourist prices in the main square. Self catering in hostels, well we figure on £10 per person per night in double rooms and many places include breakfast and sometimes dinner in that.
Look out for free walking tours in eastern European cities, good cheap activities and you start to meet locals ie the guide. Google for free walking tour in each city.
£1000 could get you a great trip. Last summer i did warsaw - berlin over 9 days for £500, the year before Belgrade - Transylvania over 10 days for £500, and we were a couple being as lavish as we liked (steak dinners and en suite rooms ).
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