Here is a guide to roughly how much things cost in Budapest, from the price of a beer or a meal to the average room, you will find all of the necessary things in this article.
The first and most important thing to book in advance, before you arrive in the city is accommodations. If you have failed to do so, it is not a problem, even in the middle of the tourist season, as cheap and reliable housing is available, because there are so many hostels in the city. Nonetheless, I would recommend booking your accommodations beforehand, for two reasons; one is that this is the only way you can make sure that you get the quality and specifics you are looking for, and two because this will allow you to plan your day better. Good places become filled up quicker, so it is worth it to get in ahead of the game.
Even if you usually only book hostels, looking into a hotel may be a good idea, because the prices are super cheap by European standards. The price of a one star hotel is around 10 pounds per night, and you can add an additional 5-6 per star as you go up. These places usually have friendly service, great security of course, and warm breakfast. You can find a hotel pretty much anywhere in the city.
Hostels are of course the cheapest option, sometimes unbelievably cheap (at 5-6 pounds per night), but there are several gripes you may have with them. First of all, it is a relatively new industry, and a nice seeming hostel may be run by complete amateurs, subtracting from the overall experience. But usually, hostels that have been around for a few years will be an amazing experience, and they have everything you may be looking for, including warm water, a roof, a nice bed, clean surroundings and young, friendly staff.
Food is extremely cheap to come by, a kebab on the street will cost you around 1.5 GBP, and a meal at a nice restaurant will be around 8 pounds, with a drink and all. If you buy your own food, you can buy a solid bag of groceries for 8 pounds, from which you can make several meals. Buying at local farmers markets and state run markets is your best idea, because that’s where the produce dairy and meat are the freshest, and are also available for the best price.
Most clubs, bars and pubs have free entry, or a very nominal fee (200 forint, around 50 pence), and usually only for gentlemen. A pint will cost you between 1 and 2 pounds, and a shot will go for around twice that.