The budget I set for my upcoming pacific coast tour in a few month is $500. Im planning on taking roughly 20-25 days to go from vancouver to san francisco. I carry everything with me and stealth camp as much as possible. Sometimes I couchsurf. But I carry breakfast and lunch with me (usually dry milk and granola, pbj's, etc), and eat dinner at a local food place (usually fast food ), and grab a few beers. Thats only about $10-$15 a day, and you'd be suprised how many free/nearly free campgrounds there are. You can tour as cheap as you want to really, I know people that tour and stay in hotels every night, thats not the type of touring I like, the point of touring on a bike for me is to get away from that kind of stuff.

You're definitely going to want to tone down the pace though. At first I was really optimistic and thought I could do 70-80 mile days, but thats not fun. Its easily possible, but you dont want to spend 10 hours on a bike. Sit back, relax, and take in the scenery now and again.