That does sound cheap, but I think it's accurate - touring by bike is quite reasonable. we are a family of four traveling on bikes right now with no support vehicle. We live very easily on about $1500 per month, or about $50/day for the four of us. We don't go to restaurants hardly at all but buy food in grocery stores - we end up spending about $30/day on food. The remainder of the money goes for campgrounds or whatnot.

It is very rare that we check into a hotel but will if weather is severe. We do stay in campgrounds when one is available but more often than not, we are not near a campground so we camp out in the wild and don't have to pay.