I know someone doing this. He worked for a software company in SF and quit a year ago. He's been an extra in a bollywood film, stayed with monks in some temple, volunteered at an orphanage outside of Kathmandu, etc. His pics and stories show up on facebook every couple weeks. For the record, he has no idea what he's going to do for money when he gets back. But maybe he won't come back.
Money is overrated, it is pretty easy to survive in the world. Consider that coming from a western country, you have command over the English language, an education more than half the world doesn't have, and a passport.
60% of the people the world alone would kill just to have your passport.
That's awesome your friend is doing that, I traveled through India myself. Money is easy.