Though my trip finished a couple of years ago, I spent ~£53,000 for my ~3.5 years of travel, inclusive of everything. This broke down as:
India (4 months in 2005/6) £4,500
Australia (6 months in 2006) £14,500
Southeast Asia/China/Trans-Siberian (11 months in 2007) £8,000
South America (9 months in 2008 plus a month in Indonesia at the beginning) £12,500
Africa (10 months in 2009) £13,500
My backpacking style was a real mix of pennypinching and excessive spending, e.g. in Australia I stayed in dorms pretty much for the entire trip, but I also went on several tours, hired about 10 cars, and ate out often (plus this total includes 2 return tickets from the UK). My India figure is skewed up by over £500 simply because I spent my last few days there in an expensive hotel - I also took a few flights. Africa includes a few flights and tours too, though it was more expensive than I expected anyway. The Southeast Asia figure is probably closest to a backpacker norm, and even that is skewed high by the expensive month I spent in Russia at the end of it.
An important point to note is that I was viewing this as the trip of a lifetime so I didn't hold back on any activities that took my fancy - my philosophy was that I expect to be earning money until I'm pretty much on my death-bed, but my interest in (and ability to) travel will have waned well before then. Apart from a few exceptions, my accommodation was standard backpacker stuff (though I spent the latter half of my South America trip more in private rooms than dorms). I also have an alarming chocolate addiction which any normal person wouldn't have.
In short, I no doubt spent considerably more than the average backpacker, but it still worked out at "only" ~£1,325 per month or ~£16,000 per year. Unless you (or your partner) are similarly hell-bent on doing every activity that you come across, or spend most of your time in expensive countries, £12,500 each should see you through 13 months (also noting that 2 people travelling together is almost always cheaper than 2 individuals).
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