Prague is as cheap as you want it to be as long as you know where to go. The prices are still cheap and accomodation is very good.
The Czechs aren't stupid -- if you've got money to spend then they will know it. The food is cheap as hell and extremely good quality...tip is try Jizeera, perfect for a nice meal.
Also try eating at a place called Klub Architektu at Betlemskenam 52, the food is AMAZING and a fancy dinner with drinks can cost you as little as 400 c K.
The tour he led in three-and-a-half hours covered so much that I don't think a regular tourist guide can even match it. What I was most impressed was the stories he told and the enthusiasm he demonstrated doing his job.The public artwork he took us to see was great (I love the Venus and the shoe and the man who sat on the belly of an cow hanged upside down from the ceiling). They will quickly turn away from you if you show no interest. Czech people are very nice too, and that made it a very memorable time. Prague is an awesome city and definitely justifies more than just a short city break.A descent visit to Prague would take a couple days, and exploring its medieval streets and buildings is a great experience for every type of traveler.The main sites include the Castle, the Old Town Square, the Wenceslas Square, the Jewish Quarter, the Charles Bridge, the Dancing House, and the Kafka Museum.Go to the major sights (Prague Castle and Charles Bridge) in the morning to avoid crowds.
Try eating at a place called U Provaznice (the Ropemaker's Wife) at 3 Provaznicka just outside the New town and try the goulash.
In addition, those looking for a good nightlife can find in Prague some of the top clubs in Central Europe -- the most famous one, Karlove Lazne, is a five-story club located in the heart of the city, and a must-do for party lovers. Euro is accepted in many sites, but the conversion charged is not worth it.
As the Old Town is relatively small, and the main attractions are located within it, getting around is easy and be done by foot. Doing it at a official currency exchange, and using only Korunas while in Prague, is a better option.
Its beauty, along with its great location within Europe, makes Prague a easy spot for those who intend to visit the region.
The first important thing when planning a trip to Prague is making sure you stay at a good district, and District 1, which includes Old Town (Stare mesto) and the Castle, is definitely your choice.
When you're going to Prague, there's another town called Cesky Krumlov that you shouldn't miss.