1) Travel Light
The first rule is pack light as it helps avoiding paying more at the airport for extra luggage.
2) Hostel or B&B
Not only this option is cheaper than hotel, but also you meet like minded travellers who can share a tip or two about the place. There are many sites like airbnb.com and hostel.com for cheaper accomadation.
3) Walk or use Public transport
Maps with top attractions are provided at the hostel for free. Ask at the hostel Front desk for directions to important tourist places.
4) Eating out
Always eat at places where local go. Its not only pocket friendly but also one can get taste of local food.
5) Travel off-season
Flights and hotel rooms will be cheaper and the major attractions will be less crowded. In off-season one can drive bargain while shopping.
6) Guide Book
Always carry a guide book, lonely planet has one for every destinations.
7) Keeping in Touch with family
Buy local sim cards when you land at airport with data plan. Most of the hostels/hotels have free wifi and make maximum use of it.
8) Travel with a partner or friends.
Twin room are always cheaper than single room. Expense can always split when traveling with someone.
9) Travel adapter
Carry a travel adapter from your country as buying one in visiting country can prove to be a costly affair.
10) Currency and Insurance.
Get the local currency from airport or from hostels. Have a travel insurance for any unseen medical emergency.