How dificult is it to plan a backpacking trip abroad?

I don't plan on backpacking anytime in the near future as I'm only 19 years old and not yet financially independent. I have, however, been doing a ton of researching on backpacking and have pretty much come to the conclusion that if and when I travel to other countries around the world, it's the type of... show more I don't plan on backpacking anytime in the near future as I'm only 19 years old and not yet financially independent. I have, however, been doing a ton of researching on backpacking and have pretty much come to the conclusion that if and when I travel to other countries around the world, it's the type of traveling I'd love to do. Europe, Australia, and China are some of the continents that I have in mind when planning on backpacking in the future.
Backpacking offers:
authentic traveling experiences
oppurunity to getting to know locals
a sense of what it's really like in a certain country
friendly fee for your pocket

My question is, how does one plan a backpacking trip? You don't just land a plane in your country of choice and start from there, do you? What kind of planning in advanced do you do?

Also, although I've done extensive research on this subject, I still wasn't presented with any sort of information on it that I find crucial to know.
Like:
what is the budget for your average backpacking trip? (1 and a half - 2 week trip)
is it significantly more riskier than planning a luxury trip abroad?
do you stilll book hotel/motel/hostels in advanced?
is it as difficult to plan a backpacking/low budget trip than it is for a luxury vaction?

what else sorts of things should I know about both backpacking as well as planning a backpacking trip. Your knowledge on this subject is very much appreciated, thank you!
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