It's always a good resolution to explore the world more in the wake of a brand new year. There's so much to see and nothing holding you back, except maybe not enough cash in your bank account. Still, a limited budget won't keep a good traveler down. If you know where to go -- and how -- even a few months' worth of savings can take you to the best sights and sounds all around the world. Here are five amazing destinations for the budget-conscious looking to hit the road this 2016.

Rio de Janeiro, Brazil

It's the Olympics and Paralympics this year, but if you know when to go, Brazil can be a particularly cheap destination in 2016. According to Simon Calder in a column from the Independent, the country will likely follow the pattern of host countries after the rush of the sporting events. Traveling to Brazil post-Olympics in September onwards will be a revelation with plenty of bargains, cheap flights and the streets "strangely empty of tourists".

Morocco

The vibrant sights and sounds of Morocco may seem like worlds away, but Katie Dawes of The Hostel Girl told Forbes that it's actually very accessible for travelers who only have limited funds and a thirst for discovery. Traveling around the colorful country is extremely affordable with three-hour journeys available for as low as $5. The low cost of living in the region also helps keep expenses down for visitors.

Hungary

Dawes' other destination of choice is Hungary, a hotspot that's budget-friendly compared to its European neighbors. Whether travelers are interested to explore the buzzing city with its nightlife, museums and monuments, or get a glimpse of the stunning Lake Balaton, the tourist spots here are accessible and affordable.

Malaysia

Seeing a UNESCO World Heritage site need not break the bank, according to Edna Zhou of Expat Edna in a report from Forbes. George Town, Malaysia has a wide assortment of architectural sights and beautiful temples, but it proves to be easy on the wallet with exotic street food options and cheap hostels. The array and blend of Malay, Chinese and Indian cuisines are enticing and affordable, so travelers can get their fill with just a few dollars every day.

Philippines

Backpacking in the Southeast Asian region is a rite of passage for young vagabonds. Drop by a country that's often overlooked for its more tourist-friendly neighbors: the Philippines. It's a little tougher to get around this archipelago, but there's something here for every kind of budget explorer from the white-sand party beaches of Boracay to the caves and hanging coffins of Sagada. Palawan is also a good stop for divers with world-class reefs and wrecks in Coron and El Nido, as well as stunning limestone-framed islets.