Rule of life - it will cost more than you think.
My travels by motorcycle for 6-8 months at a time over the last few years have ended up costing me about $60-70 a day for everything except major freighting activities. Major air freight never seems to leave much change from $2000.
I don't try and skimp and do it at minimum cost, but neither do I spend up big (more camping and hostels than hotels, mainly locals meals, one  a night etc). Even with this lifestyle for two years I would expect to spend around $50,000.
I reckon you could do it on your budget but it would be very tight and you might end up running out of money early. Good luck with your planning.
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