Yes a lot hostel are available depending on what kind of things you looking at, a cheap option is ibis hotel in Amsterdam as well... there are cheap option to eat as well Indian food is expensive anywhere in Europe but try Lebanese food it's nice and cheap as well.. so whatever your budget you can try it out and you would enjoy it.. try to go in summers as winters are very harsh and u can't carry a lot luggage
Yes, you surely can but be specific with your places otherwise it would go out of budget for you and plan your trip wisely by checking different deals.