You don’t have to break the bank to have a holiday to remember. Here’s our run-down of the best budget holiday destinations for every month of 2015.

January – Phnom Penh, Cambodia

Unlike most Southeast Asian capitals, Phnom Penh is still relatively low on skyscrapers. This means that all the action this vivacious city has to offer happens on the ground, from the gents whizzing through the lively street markets on scooters, to the budget gastronomic experiences along the Tonlé Sap promenade and gorgeous villas from the French Colonial era.

It’s a city undergoing transition. Moving away from the atrocities under the Khmer Rouge reign in the 1970s and returning the city back to the former glory as ‘The Paris of the East’, with the upsurge of artisan shops and boutique cafes cropping up alongside the National Museum and flamboyantly golden Royal Palace in the Daun Penh district.

February – Lima, Peru

Lima is a sweeping metropolis of contradictions. A bit of the old, a bit of the new, something borrowed from Spain, and the cool breeze of the Pacific Ocean blue – all brought together in one of Latin America’s most happening cities!

At its heart you’ll find the ‘City of Kings’, a UNESCO World Heritage Site with stunning vestiges of the colonial era on what feels like every street corner, and the late 1600s Baroque Monastery of San Francisco as the district’s crowning jewel.

If you’re after something a bit more contemporary, then beach-side Barranco is the place to be. Venture down the winding cobbled streets for awe-inspiring graffiti murals, cheap Peruvian grub and rowdy local bars where the cocktails are nice at half the price. You can even recharge your batteries at the wonderfully odd Electricity Museum.

Oh, and don’t forget the weather! Paying a visit to Peru’s capital in February offers up the best of the sunshine and, without the thick humid mist known locally as the ‘La Garua’, you’ll be greeted with the pleasing panoramic views of the Pacific.

March – New Orleans, USA

With the city slogan ‘Laissez les bon temps rouler’ (‘let the good times roll’), it’s no wonder that New Orleans is always great for a party. Millions wander this way for the Mardi Gras in February, but if you take a trip the following month you’ll still get all the spirited revelry, plus a warmer climate and less crowds, meaning you can really soak up the quaint Creole architecture at your own pace.

Once you’re stuffed with hearty gumbo and jambalaya dishes, you’ll have the energy to hop on a streetcar and venture out into the raucous night-life scene, which includes the chance to see world-class jazz musicians busking on street corners in the French Quarter, or live music bars that promise to shock and amaze, all for an affordable price!

April – Busan, South Korea

Home to South Korea’s largest trading port and Asia’s largest film festival, Busan has a more welcoming international vibe than its boisterous big brother Seoul, plus all the more mountains, beaches and Buddhist temples to explore at low rates.

Fish is at the top of the menu in Busan, with millions of sea creatures brought in to the city’s Jagalchi Fish Market every day for seasoned restaurateurs and hungry travellers looking to hook a cheap bite to eat. Take your catch on a picnic in the Dongbaek Island Park to see South Korea at its most charming, unrefined and naturally stunning.

April is the perfect time of year to bask in the wonder of the annual cherry blossom festival happening in the neighbouring town of Jinhae-gu. It’s a few hours on the train, but these rosy beauts are worth the trip!

May – Tbilisi, Georgia

If you usually let your belly lead your holiday destination choices, then the colourful Georgian capital is for you.

Tbilisi is a gourmet paradise, with hearty portions of ‘khinkhali’ (meat dumplings) and the Georgian equivalent to the pizza, ‘khackapuri’ served in every eating spot in town. Wash it all down with a few sloshes of the finest rich red wine of any post-Soviet state, and then relax in the steam of the Old Town’s famous thermal baths.

Founded in the 5th century, this aged city has been rebuilt 29 times over the years, meaning that you’re left with an exotic mix-up of medieval, classical, Art Deco and Soviet structures on every street corner. All that, plus perfect early summer weather, make Tbilisi the next big thing in the metropolitan holiday scene, so visit now before the insanely low holiday prices hike up!

June – İzmir, Turkey

Tucked along the Central Aegean coast, this happening port city has a history of being a liberal hub, with a blend of Greeks, Jews, Armenians, French and Italians calling it home throughout its 5,000 years. Today, you’ll find İzmir‘s laid-back locals frequenting the many hip bars in the Alsancak District, or expressing their creativity in abandoned industrial buildings-turned-collective art exhibition spaces.

If you visit in June you’ll find the city in full flow, with one of Turkey’s premier cultural celebrations, the International Izmir Festival, offering a great blend of classical and contemporary ballet, theatre and music performances – all on offer before the unbearably hot summer season arrives.

It’s a thrifty, chic alternative to the rest of well-travelled Turkish destinations and – with the quiet and hotel-free Ramo Beach (Altınkum Plajı) just an hour away in Çeşme – you even have the chance to trade the city slick for sandy oasis.

July – Budapest, Hungary

Despite growing in popularity year on year, it’s remarkable how much of a good time you can have in lively Budapest on a budget.

The city looks its best in July, and – if the heat becomes too stifling – you can always dive into the Széchenyi baths in the City Park, replete with old gents gaming on floating chessboards. By nightfall, make like a local and hang out in the parks, which are usually filled with familiar fairground attractions and summer cheeriness.

No trip to the Hungarian capital would be complete without a stroll down Falk Miksa utca, a world-famous street featuring many museums and antique shops where you can rummage through forgotten Communist heirlooms.

Breaking away from the classics is the ominously named ‘District VIII’ (Józsefváros), a once crime-riddled neighbourhood that has transformed into Budapest’s most exciting spot, with cafes daring to break away from the traditional Magyar cuisine and experimental art spaces like the Lumen photography museum.

August – Porto, Portugal

Porto, Oporto! There’s no finer European budget spot in the heat of summer than Portugal’s picture-postcard second city.

Start off at the Ribeira Square, a UNESCO World Heritage Site situated next to the Douro River. It’s the perfect spot for people watching – from the sophisticated street artists to the old couples shuffling along the plaza on the hunt for a morning ‘bica’ (the Portuguese espresso). Just a short walk away are the Crystal Palace Gardens, which will allow you to reconnect with nature in the presence of roaming peacocks and other love birds heading for the Romantic Museum, filled with the very best 19th century fineries.

The locals are known as ‘Tripeiros’ (tripe eaters) and yet the classic Porto lunch, the ‘Francesinha’, is a culinary meat-feast! With layers of various meats covered in melted cheese, doused in tomato sauce and served with a cold Portuguese beer, it’s the sandwich to end all sandwiches. Head down-town to Café Santiago and try the best.

While in the neighbourhood, lose yourself in the Livraria Lello & Irmão, a beautiful Art Nouveau-styled bookstore wherein you’ll find all of Porto’s bright young things flicking through obscure books over a glass of port. A lovely way to end an afternoon in romantic Porto!

September – Oaxaca, Mexico

The coast of Mexico is famous for its reliable package holidays and tourist-stuffed beaches but, if you venture inland to the south-west, you’ll find a city that’s cheap to visit, yet full of life, promise and genuine surprise.

Surrounded by mountainous valleys and the exquisite mineral springs known collectively as the Hierve el agua, Oaxaca is also on the doorstep to one of Latin America’s finest archaeological sites, Monte Albán, a city built by the native Zapotecs in 500 B.C.

But back in the colonial centre is Oaxacan culture really shines, with the sublime Baroque architecture from the Dominican order alongside the chocolate and chilli scented marketplaces serving up the finest Mexican food, like the local delicacies ‘chapulines’ – aka grasshoppers – cooked with refried beans and thrown into a fresh tortilla.

With over 150,000 registered artisans in the state, Oaxaca is considered the home of Mexico’s craft industry. Pick up a wood-carved trinket from the many family-run boutiques and then head outside for the inevitable mid-afternoon fiesta in the beautiful grounds of the Church of Santo Domingo de Guzmán.

October – Tunis, Tunisia

Along with being one of North Africa’s most exciting cities, easygoing Tunis is perfect for the cash-strapped traveller!

Aside from the eucalyptus tree-lined avenues of the Nouvelle Ville area giving the city a distinctly contemporary, European feel, the neighbouring Carthage allows you to step back in time to the prosperous reign of a forgotten empire, while the Bardo Museum presents the world’s best collection of murals and mosaics of the Roman reign that superseded it.

The UNESCO protected Medina and its many souks are easy to navigate and open up opportunities to explore a more traditional side of the capital, with old perfumers enticing you with their fragrances and traditional tailors sizing you up for a golden decorative tunic.

If the wild-side of Tunis gets a little too lively, taking the 20-minute train ride to the bohemian blue-and-white village of Sidi Bou Said provides an essential bit of calm. .

November – Cape Town, South Africa

There’s something for everyone in ‘The Mother City’, and all at a low cost. Whether you’re interested in diving deep into its cosmopolitan art scene, climbing to the top of its universally adored Table Mountain or just soaking up the rays from its first-class beaches.

With almost half of the residents under the age of 25, Cape Town is fashionable, friendly and innovative. Wandering through the rejuvenated Old Biscuit Mill factory in the Woodstock neighbourhood is a perfect way to pass the time, chock-full with internationally revered eateries, boutique designer stores and other quirky micro-enterprises. It’s no surprise that the city was crowned as the World Design Capital last year.

For the traveller who prefers the company of animals, waddle down to Boulder Beach to hang with the jackass penguins that call this sandy shore home.

December – Colombo, Sri Lanka

Following the end of the civil war in 2009, Sri Lanka’s largest metropolis has transformed into an effortlessly cool, holiday spot that is just perfect for rounding off the year, with great cuisine and a buzzing night-life all at ridiculously low prices.

It’s a cosmopolitan, multi-faith city, but Buddha still rules this roost. And with his reign comes some of Asia’s most exquisite religious grounds, including the unmissable Gangaramaya Temple alongside the Beira Lake, which is the perfect spot to shape-up on your meditation technique.

Another nearby Colombo institution is the Old Dutch Hospital. Built in the 17th century colonial times, the thick-walled, red-roof structure was re-purposed in 2011 and has since become one of Colombo’s trendiest spots, filled with daring fusion-food restaurants and cocktail tea lounges that come alive at night.

To get into the typically relaxed, island feeling, hop on a train and take a romantic travel south to Mount Lavinia. This neighbourhood is famous for one thing – its paradisiacal golden beach. Once you’ve gone for a dip and taken a sip of an orange coloured ‘King Coconut’ you’ll want to stick around to experience the beautiful sunset bouncing off the Indian Ocean waves.

The prices gathered above were obtained from the online consumer database Numbeo in December, 2014.