To visit Mykonos on a budget in 2026, you must avoid the "Chora" (Mykonos Town) and beach club traps. First, utilize the public bus system (KTEL), which connects the town to major beaches like Paradise and Elia for just a few Euros, saving you from €50+ taxi fares. Eat like a local by sticking to gyros and souvlaki shops (where a meal is under €10) or dining in the inland village of Ano Mera, where tavernas are significantly cheaper than those on the waterfront. For accommodation, stay in hostels or "studios" further from the coast and visit during the shoulder seasons of May or September. Many of the island's best experiences—walking through the Windmills, watching the sunset at Little Venice, and hiking to secluded northern beaches like Agios Sostis—are entirely free, allowing you to enjoy the Cycladic atmosphere without the luxury price tag.