I recently visited the Bahamas. I am a frugle person and don't care to spend a tremendous amount of money while I am anywhere (even the Bahamas). Although, please keep in mind, the Bahamas is going to be an expensive trip. The "high" season in the Carribean is November thru May. Avoid visiting during these months. Too many people and cost of flights and hotel are much higher.
Prior to booking my vacation, I had heard many great things about the Atlantis hotel. While it is an exquisite hotel, I ws not going to pay the high cost of staying there. Instead, I opted to stay at the Comfort Suites Paradise Island. Comfort Suites is just a thirty second walk to the Atlantis hotel. When you stay at Comfort Suites, you also get all access to the Atlantis. This includes pool, beach, waterpark, business center, library and movie access. No matter who you are traveling with, this is the economically best route to take. Comfort Suites also includes free continental breakfast when you stay at their hotel. Yes, I know, continental. Not a BIG breakfast but good enough. This means free cereal, free bagels, free pastries and fruit. The staff at Comfort Suites are very helpful and friendly. They always seem happy that you are staying with them. The rooms are big and comfortable and well equipped (not that you'll spend a whole lot of time in it).
During our stay, we visited the beach on the Atlantis property. Beautiful beaches are all around! If you want to keep your budget low and enjoy an alcoholic drink or two, may I suggest going to the liquor store in the Paradise Shopping Center. This is only a one minute walk from the Comfort Suites hotel. The Kalik (Bahamian) can beer on Atlantis goes for $7.50 each. Pack a small foldable cooler in your luggage. When you get to the Bahamas, buy a 6-pack of Kalik (or whatever liquor or beer of your choice) put it in your cooler, fill it up with ice and take it to the beach with you. This is allowed but please make sure to dispose of your trash. A 6-pack will cost you about $8.00. Buy your water from the Paradise Shopping Center as well. You will be amazed at how much money you will save by just doing that.
Prior to booking my vacation, I had heard many great things about the Atlantis hotel. While it is an exquisite hotel, I ws not going to pay the high cost of staying there. Instead, I opted to stay at the Comfort Suites Paradise Island. Comfort Suites is just a thirty second walk to the Atlantis hotel. When you stay at Comfort Suites, you also get all access to the Atlantis. This includes pool, beach, waterpark, business center, library and movie access. No matter who you are traveling with, this is the economically best route to take. Comfort Suites also includes free continental breakfast when you stay at their hotel. Yes, I know, continental. Not a BIG breakfast but good enough. This means free cereal, free bagels, free pastries and fruit. The staff at Comfort Suites are very helpful and friendly. They always seem happy that you are staying with them. The rooms are big and comfortable and well equipped (not that you'll spend a whole lot of time in it).
While on the beach in the Bahamas, you will be solicited by locals for everything. Do not be alarmed or rude. They will solicite you for ganja, blow, clubs, boat rides-Everything! This is where you'll want to purchase jetskiing, parasailing and banana boat rides. Keep in mind that you are a tourist. The locals will try to overcharge you for everything. But EVERYTHING is negotiable. They may try to ask for $140 an hour for jetski, offer them less. There will be men walking around selling drinks out of coconuts. Buy one. They go for $10 each. He cuts the coconut right in front of you and pours the pina colada in it (which are VERY strong). You're in the Bahamas, enjoy a pina colada from a fresh coconut!
Food on Paradise Island is expensive. Try to avoid eating there as much as possible. Instead, take a short walk across the bridge to Nassau. When you get to the end of the bridge, look down. You will see rows of food huts. This is where the locals hang out. I know that you have probably read to watch out for such places but let me be the first to tell you that this is bologna. Bahamians are the most frinedly people I have ever met. Don't act like an idiot and be respectful and they will treat you the same. I suggest going to TZ's. The owner is a very nice, fiendly woman. You will get the best conch fritters and conch salad here (did I mentions these are afrodisiacs?). On top the great food, beer is only $3 compared to the $7 beer on Paradise Island?! We stayed in this area at the bottom of the bridge until about 1a.m. and got treated like a local. The live band they had there on the street had the best drummer and Carribean beats I have ever heard. People were dancing in the street and the smell of Ganja filled the air. I don't anybody even noticed the color of our skin was different than theirs. It was the best time we had in the Bahamas by far! You must also check out Arawak Cay's fish fry. This is a local favorite. May I suggest taking a short taxi ride there. From Paradise Island, this will cost you about $14. Arawak Cay is just past the Straw Market in Nassau. Here you can get lobster and steak for about $23. Can't beat that! Another fun hangout spot is Senor Frogs. It is best to visit here when the cruise ships are docked. They have 2 for 1 drinks, entertainment and great nachos! While you're at Senor Frogs, write your name on a dollar bill and tape it onto their bar. Maybe you'll see mine there...

Food on Paradise Island is expensive. Try to avoid eating there as much as possible. Instead, take a short walk across the bridge to Nassau. When you get to the end of the bridge, look down. You will see rows of food huts. This is where the locals hang out. I know that you have probably read to watch out for such places but let me be the first to tell you that this is bologna. Bahamians are the most frinedly people I have ever met. Don't act like an idiot and be respectful and they will treat you the same. I suggest going to TZ's. The owner is a very nice, fiendly woman. You will get the best conch fritters and conch salad here (did I mentions these are afrodisiacs?). On top the great food, beer is only $3 compared to the $7 beer on Paradise Island?! We stayed in this area at the bottom of the bridge until about 1a.m. and got treated like a local. The live band they had there on the street had the best drummer and Carribean beats I have ever heard. People were dancing in the street and the smell of Ganja filled the air. I don't anybody even noticed the color of our skin was different than theirs. It was the best time we had in the Bahamas by far! You must also check out Arawak Cay's fish fry. This is a local favorite. May I suggest taking a short taxi ride there. From Paradise Island, this will cost you about $14. Arawak Cay is just past the Straw Market in Nassau. Here you can get lobster and steak for about $23. Can't beat that! Another fun hangout spot is Senor Frogs. It is best to visit here when the cruise ships are docked. They have 2 for 1 drinks, entertainment and great nachos! While you're at Senor Frogs, write your name on a dollar bill and tape it onto their bar. Maybe you'll see mine there...
This was my experience in the Bahamas (on a budget). I hope it helps and if you have a question or comment, feel free to leave one. I'll answer any questions I can or help however I can. And if you plan on visiting the Bahamas, make sure to enjoy yourself!!!