Monaco is expensive, but visiting does not have to be. Much of what makes the principality memorable is free: the Palace Square, the cathedral, the gardens, the harbour and the seafront cost nothing to enjoy. With some planning on timing, food and where you stay, it is possible to have a very good trip on a modest budget, and the key is to spend on one or two things you really want and enjoy the rest for free.
The best free sights
Start on the Rock, where the Palace Square and the 11:55 Changing of the Guard are free, as are Monaco Cathedral and the Saint-Martin Gardens. In Monte-Carlo, the Casino atrium and Casino Square can be admired without paying, and the Japanese Garden in Larvotto is free and open daily. The Larvotto public beach is free, and the harbour at Port Hercule is a good place for a free walk to look at the yachts. The Condamine market and the church of Sainte-Dévote are also free to visit. You could fill two full days with free sights and never spend more than a coffee.
Museums that cost little or nothing
The Nouveau Musée National de Monaco has a full-price ticket of six euros, and entry is free every Sunday and for visitors under 26, students and some other groups, so it is the best-value museum in the principality. For something bigger, the Oceanographic Museum is the main ticketed sight and is worth the price for most visitors, and booking a dated ticket in advance avoids queues. Treat the Oceanographic Museum as your one major paid sight, and let the rest of your sightseeing be free.
Getting around cheaply
Walking is free and, thanks to the public lifts and escalators that link the harbour, the Rock and Monte-Carlo, it is often the quickest way to get around too. Local buses cover the districts for little money, and the trains along the coast are an inexpensive way to reach Nice, Menton and Èze-sur-Mer. Taxis are convenient but add up quickly, so keep them for late evenings or heavy luggage. A hop-on hop-off bus is useful but not essential if you are happy to walk and use the lifts.
Eating for less
The Condamine market is the best budget stop, with local snacks such as barbagiuan, socca and pissaladière, plus bread, cheese and fruit for a picnic. A picnic in the Saint-Martin Gardens or on the harbour front is the cheapest lunch with the best view. In restaurants, look for fixed-price lunch menus, which are typically better value than evening menus, and avoid tables facing the harbour or the Casino unless you want to pay for the setting. Supermarkets and bakeries in La Condamine and Fontvieille are the best places to buy supplies, and tap water is fine to drink.
Where to stay
Hotel prices in Monaco are high everywhere, but you can reduce the cost by choosing the port area or La Condamine over Casino Square, and by avoiding peak dates. The Hotel Ambassador Monaco in the Quartier du Port and the Boutique Hôtel Miramar in La Condamine are the practical choices, both close to the station and the harbour. Another strategy is to stay in Nice or a coastal town and visit Monaco by train for the day, which saves a lot of money at the cost of the evening atmosphere. If you do stay in Monaco, consider two nights rather than three and use the money for one good meal.
Timing
The Grand Prix in late spring, the summer weekends and the yacht show in September push hotel prices to extremes, so avoid them if you are watching your budget. Late autumn, winter weekdays and early spring are the cheapest and quietest times, though some seasonal attractions, such as the State Apartments at the Prince's Palace, are closed in winter and beach clubs shut outside summer. The weather is usually mild, and the free sights are just as good without the crowds.
A sample budget day
Breakfast at a bakery, the Changing of the Guard at 11:55, the cathedral and the gardens, a picnic lunch from the market, an afternoon at the Japanese Garden and Larvotto, and an evening walk around the harbour. The total cost is a few snacks and a coffee. Add the Oceanographic Museum or a Sunday visit to the Nouveau Musée National de Monaco on another day, and you have seen most of the principality for a fraction of what most people expect to pay.