$5K seems immensely optimistic for a year, even if you exclude airfare. Do you have any links/blogs where people were able to pull that off?

$5k may be a bit optimistic, I would calculate your costs now in your part of the world. I know that I burned more than that in my first year. I think if you start by lining up some jobs that can sustain you before you quit then you will burn less. Take your time if you want to travel and work. Currently I want to travel a good amount and am still cautious about the timing with my contracts that I have now. Remember work up to travel and make sure you are in a good place contracting wise before you take on a whole new lifestyle. I love to travel and think it can be wonders for developers, just be careful early on.