Tent and sleeping bag is SA to bring or not to bring
I've spent $2000 on accommodation in 7 months from Mexico to Colombia and every country between. And that averages about $10 a night for staying mostly in hostels and inexpensive hotels. You won't save a lot with a tent if your trip is expedited. You will, however, camp in the most incredible places that you can't camp in without a tent.
Edit: I camped all throughout Mexico as I could find free places to camp, and I stayed in cities when I wanted to use my time seeing a city instead of making and breaking camp. Accommodation has been my biggest expense, and yet I feel like I've been mostly frugal with that regard. I expect to camp a lot more as I head south through the Andes.
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