If we're talking about international travel, I try to pay for and book as much as possible ahead of time - transportation costs and lodging, mostly - this fixes a large portion of the costs and then I also don't have to worry as much about things like foreign transaction fees. I also try to get accommodation which includes breakfast, budget reasonably for one large meal out per day, and get some supplies from the local grocery store for snacks in between - bread, cheese, etc - so I'm not stuck popping into the nearest available place in desperation for overpriced, mediocre food. If I have access to a kitchen, even better. If I'm in a place with cheap and delicious street food (like Thailand), then I take advantage of that. As for sightseeing, I try to do research ahead of time and take advantage of passes that combine or reduce admission costs. I do very little souvenir shopping, if any. But for my meals out and admission to the things I really want to see, I don't worry too much about the cost, within reason. You spent all that money on getting there, so make the most out of your time (and money) while you're there, and enjoy it.