Four months – at current exchange rates your $7000 USD is about 4800 Euros, so that’s 1200 Euros per month (but it could be less if the exchange rate worsens).

So that’s 40 Euros per day.

Do you have your transport already paid for?

In places where hostels can easily be 25-30+ Euros per night, you would obviously be stretched for funds. In places where hostels are 10 Euros per night, you could probably do all right. Where do you plan to go in Europe?
 
I wouldn’t count on saving a lot of money camping. The transport from camp sites to major cities can be quite expensive and you will lose a lot of time. But if you are interested, look in to the cost of camp sites.

i plan on going to many rural areas to rock climb ie riglos, mont serrat, verdon gorge, chamonix, elbsandstein, ….. I plan on camping for free if possible at the base of clifffs or on ridge tops. I figure if i buy groceries use my stove to cook etc. I can save substantial funds for rest days in the cities or for transportation. Speaking of which… What do you think about hitch-hiking? Crazy or what?
 
Thomas

Mind the visitor limit. You mentioned budget in $USD, so I’m assuming you have a USA passport. You only get 90 days to play tourist in the combined Schengen border zone countries. The places you mentioned—in Spain, France, and Germany—would have to be seen within 90 days, unless you have a study, work, or residence permit arranged before boarding the flight to Schengen-land. If you spent a month in Switzerland, you could then spend 3 months in nearby countries, because Switzerland is not part of Schengen border (yet). Just if you haven’t considered this aspect of your travel yet….

many countries frown on hitch-hiking these days. also, traveler is right about the camp sites, you may find that it is cheaper to just stay in a hostel that cost a little bit more but you don’t have to pay for the travel to and from the camp site itself. also, many hostels have guest kitchens that you can cook in, which will also save you money food. and who really wants to carry around all the cooking/camping gear with you? i doubt it will save you very much money over moderately priced hostels.