The Tourism Australia website suggests taking a one-week walkabout to experience a select area of Australia on a limited budget. Focus on touring one region, and pack each day with nearby activities. One sample itinerary takes you to Brisbane, the Great Barrier Reef, Adelaide, the beach and Kangaroo Island.
A less expensive way to explore the outback is to skip the bus and go by foot, horseback, camel or bike. The Outback Australia Travel Guide website recommends a "fair dinkum" camping trip. Instead of luxury outdoor sleeping accommodations, this type of trip uses regular tents and sleeping bags.
Not all airlines and tour companies charge the same, so do some research to find the best deals for Australia. According to the Lonely Planet, cheaper air fares are available on Jetstar, Virgin Blue and Tiger Airways. Also, The Encyclopedia of Cheap Travel recommends purchasing a tour of Australia from a company that combines your airfare, hotel and ground transportation to save money.