I'm from America so the Eurorail pass is an option.
I'll be ther in Europe 5 months living in Budapest so I have time to look for options (bus, air, rail, car, etc.)What is the cheapest way of travelling in europe?
Train can be cheap, especially in eastern Europe. There is eurolines (coach) http://www.eurolines.com/
You could also fly of course: http://www.ryanair.com (probably the cheapest with flights all over Europe) Sometimes you can get flights with Ryanair VERY cheaply! (even cheaper than bus or train!)
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