Porto is easier on the wallet when you pay for the things you actually want and let the city’s free parts do the rest. The river, bridges, gardens, tiled streets and most of the good walking are free; a view from a paid tower is optional.
A free walk with a proper view
Start at São Bento, walk through Aliados and down toward Ribeira, then cross the upper deck of Ponte Luís I to Jardim do Morro. The view costs nothing; the climb back to the centre is what you will notice. Take the metro if your legs have had enough. Another good free stop is Jardins do Palácio de Cristal, where you can sit above the river without buying a ticket.
Spend lunch money well
For a quick filling lunch, Conga on Rua do Bonjardim does the Porto-style bifana: pork in a spicy sauce in a roll. If you want something more substantial, Casa Guedes at Praça dos Poveiros 130 is known for the sandes de pernil, roast pork in a bread roll. Both are casual counter-style meals, not a long restaurant lunch. At a sit-down tasca, ask what the prato do dia is and check the price before ordering.
For breakfast, get coffee and a pastry at Confeitaria do Bolhão rather than paying for a hotel buffet you do not need. Bolhão Market is useful for fruit or a snack, but it is closed Sunday.
Use transport only when it saves you something
If most of your plans are in Baixa, Ribeira and Cedofeita, walking may cover much of the day. For Foz, Matosinhos, Gaia or the airport, check the route and current zones in the Andante planner. Compare the trips you will actually take with a 24-hour or tourist pass; a pass is not automatically cheaper. Each traveller needs a valid ticket, and you need to validate it as instructed.
Where the budget usually leaks
A cheap room far from your plans can mean repeated rides home, especially after dinner. A riverfront table costs more for the setting; that can be worth it once, but not by accident every night. Wear shoes that can handle hills and wet paving, and do not try to save money by planning an exhausting route you will abandon halfway through.
My budget version of Porto is simple: one good lunch, one pastry breakfast, a free viewpoint, a garden break and public transport for the long legs. Spend on one paid attraction only if you genuinely want to go inside. The city does not charge admission for its best wandering.