There are lots of ways to save money on a trip to New York City! I prefer cabs, but a 7 day unlimited MetroCard is only $24, I think.
And there are many reasonably priced places to eat.
If you in the mood for a burger and fries...The Burger Joint is awesome! It's located in the Parker Meridian Hotel on 56th Street in between 7th and 6th (once inside the hotel, just look for the curtain to the back room and the neon hamburger sign). Burger, fries, and a drink for $13.
Vinyl is on 9th Ave. in between 50th and 51st Street. They have really good mac 'n cheese.
Blockheads on 50th in between 8th and 9th. Mexican food...cheap. Quesadillas for $6, taco dinner for $9, margaritas for $3, etc...
I also really like Chelsea Grill on 9th Ave. in between 46th and 47th Street. Italian food. Good wine and great food at a decent price. A glass of wine and an entree will cost you around $25 here...and then add in the tip, of course.
If you're in the mood to spend money on a fantastic meal then go to the Redeye Grill (where I work) on 56th and 7th across the street from Carnegie Hall. Delicious seafood! A full meal including: wine, appetizer, entree, dessert, coffee will cost you around $80 minimum...plus tip.
There are also some really swank and not so swank bars in the area...PJ's, Faces & Names, Social...all within blocks of each other.
And for shows...I always do student rush, general rush, lottery, or standing room only. I hate paying more than $30 to see a show.
"Somethin's comin', I don't know what it is but it is gonna be great!"