Rule one: lower your expectations. Rule two: lower them further.

One night in a B&B will gobble up your whole budget. So it has to be a hostel instead.

Cobblestones at Eustace Street, Temple Bar, charges €16 a night to share a dorm with seven others. This includes breakfast of cereal, toast and tea.

The Kitchen boasts both a microwave and a fridge (that's sold as a "plus" in one tour guide). An extra €1.50 will get you an upgrade to a dorm of six.

Released of almost half your budget, you are free to roam the city, literally free in the case of some attractions.

The Project Arts Centre, Gallery of Photography and National Photographic Archive frequently host interesting, free-of-charge exhibits - and that's just in Temple Bar.

€4.25 for the Dublin Castle tour? Not on this budget!

The National Museum is free, and at its Collins Barracks branch - a brisk walk, or short bus ride (€1.20), down the quays - various outdoor diversions can be found this month.

These range from French mime artistry workshops to a Beatles fan club love-in.

Alternatively, head south to the Georges Street Arcade where, sticking to the budget path, one can shop for cheap and second-hand clothes, books and music. (Three CDs for €12 in one bargain bin.)

Lunch can be a killer on the pocket, so choose wisely.

The Hare Krishna-run Govinda's on Aungier Street provides hearty vegetarian fare, and even a small plate of meat-free shepherd's pie with salad and other extras, will fill the hole in your stomach left by "breakfast". Cost: €4.55.

For a genuinely free lunch head to the nearby Chester Beatty Library, where eastern mysticism itself is on the menu. Perhaps Ireland's most outstanding museum, certainly its most decorated (it was named European Museum of the Year last year), one can safely lose oneself here (free of charge) for hours. Dinner? Again one can't be fussy. Beshoff's - a fair step up from McDonald's - charges €6.50 for a sizeable plate of smoked cod and chips. A small soft drink is €1.35.

For evening entertainment, Harry Bs at Power's Hotel on Nassau Street runs a happy hour between 5 p.m. and 8 p.m. Two pints will set you back just €6, or alternatively buy a cocktail for €5.50, leaving you with €1.10 for the rest of the night.

A hopeless cause? Not necessarily.

Head for Meeting House Square where, several nights this month, you can enjoy free films, dance clubs and other shenanigans.

That means you've still got change in your pocket for a half-pint of milk and some fruit to settle the tum before bedtime. Your bunk-bed awaits!

Joe Humphreys