While I hate to be a harbringer of bad news, it is difficult to refute the fact that now is an important time to save money. Between the decadence at the festive season and the broader economic outlook as a result of the global financial crisis, the prospect of saving money in the New Year is grim.
It is heartening to know, then, that even in a city as expensive as Sydney, it is still possible to enjoy yourself while keeping an eye on your finances.
So, this article will give you a day's worth of activities, without breaking the budget.
As the morning dawns, why not consider catching a bus to Bondi in order to walk the Bondi to Bronte trail? After a 2.5 kilometer walk next to the ocean in Bondi, you can cool off in any of the beaches you pass along the way.
When you return to Bondi, you will probably be feeling rather peckish. Being mindful of the low price tag of the day, you can grab an energising juice from the Boost Juice on Campbell Parade.
While refreshing mornings at the beach might be a cheap and healthy way to enjoy summer in Sydney, if you're like me, the biggest problem with guarding your finances arises when you walk passed the shops.
Resist the temptation of spending your hard-earned in the boutique shops around the back streets of Bondi.
Rather, save yourself for you're next port-of-call: the thrift stores of Newtown.
In the spirit of keeping things cheap, you might consider sparing the petrol money by catching the bus. The 333 will take you to the CBD, and then it you can catch any buses from Castlereagh Street in order to reach Newtown.
The central artery of Newtown is undoubtedly King Street. Along the road, you will be able to find a variety of cheap places to indulge in some budget shopping.
If you are a book-lover, be sure to pay a visit to Gould's Book Arcade, for a selection of second-hand gems arranged haphazardly on the shelves.
Apart from the bargains you may find in Newtown, there are also a variety of trendy places to eat - all priced to fit the discerning tastes of poverty-stricken students.
Although any of the cafes you pass on King Street will serve you well, a few special mentions must go to Newtown Thai 2, for their $7 lunch specials and Guzman Y Gomez, for their $7.90 taco special.
The major challenge on a frugal day out comes when the sun sets. It is a truth universally acknoweldged that the biggest enemy to saving is alcohol.
Nonetheless, there are ways to indulge in your favourite activities without breaking your budget. Seeing that you're already in the vicinity of Newtown, it is time to swing by some of the local 'happy hours.'
Zanzibar in Newtown offers great cocktails for under $10. From 6 to 10pm on a Monday, cocktails will set you back only $6.
If beer is more to your taste, you can visit the Coopers Hotel for $3.90 schooners.
Of course, it is really about the entertainment for the evening. Pubs such as the Landsdowne Hotel, in Broadway, operate not only as a location for cheap drinks and steaks, but also as a significant live music venue, where bands perform for free!
There you have it. In one day, you've seen the sights of Bondi, had a refreshing oceanside walk, eaten Thai food, done some shopping, had drinks and seen a band - and all while keeping strictly to your budget!