My favorite way of spending the night is definitely camping. But that's true only if I'm traveling in nature and with low budget (most of the time). I have been buying one thing every year for backpacking because it's expensive. I started with the backpack because it's super important. Then the sleeping bag, pad, tent and cooking ustensils. The rest of the time I would borrow or rent. It's a good option and the material is of good quality. It does require a lot of organisation but for the first time you can try a one or two nights trip. Just remember to pay attetion to the weight your putting in your bag. It is really important to respect your limits. And don't forget to take a lot of snacks! The one thing I really enjoy is taking one small piece of soap for after a long day. It always feels great.

I am not a big fan of hotels because it is more expensive and it is definitely more contraining for your food independance. I love taking my breakfast in my space on my own time. Also when I am traveling I like to eat outside but once in a while I miss cooking for myself and usually prefer having a kitchen close by. You can find amazing options on airbnb for not too much. You might have to be ok with public transportation in some cases, to reduce the cost. I have done hostels a lot and don't mind it when I know I'll go out or that I have everything I need to be cofortable. Usually it is noisier and less cosy but very economic and useful for last minute traveling.