How far will $5,000 get me in Europe not including plane ticket

Hi,

I am hoping to do some traveling in Europe from March to May hopefully, but I don't know if I am going to be able to afford it. I want to buy an airplane ticket going into Madrid and leaving out of Turkey. Do you guys think I can make my way over to Turkey in 2 months and stay under 5K? I have no experience in Europe but I've done plenty of super cheap hostels so I know I can eat and sleep on a super tight budget - I just don't know if I'm underestimating my expenses.