Beaches – Melbourne has many. The most accessible and popular is St Kilda Beach. Or for a quieter, lovely beach try Half Moon Bay (take the train to Sandringham and walk)
Eurkea Skydeck – it is on the 88th floor of the Eureka Tower. The best view of Melbourne that the public can access. And pretty much as good as it gets. Open until 10pm, and you can pay a little bit more to go twice in one day, for a day/night experience.
Live Music – Melbourne is on of the best cities in the world for music gigs, and there are many choices every night. Many are free. See the gig guide at Beat Magazine.
St Kilda Penguins – at sundown they return to their homes in the rocks at the very end of St Kilda Pier. While some tourists pay to watch this from boats, you can do so from the seating in amongst them.
Loop – presentations, movies and events that are often free, and generally pretty hip.
Ferry to Williamstown – a unique seaside suburb for Melbourne, Williamstown doesn’t have any through roads and has three very different coasts – shipyards and Melbourne views, rocks and the ocean, and a very nice sandy beach. In between all these are restaurants, bars, some quirky shops, a botanical garden and the Titanic restaurant. Ferry there and train back to make the journey cheaper.
Sherbrooke Forest Walk – a leisurely 6.6km walk (with the odd steep bit). “This area boasts the highest density of superb lyrebird living together with wombats, swamp wallaby, echidna, possums and powerful owls.” Get there by train to Kallista ($6 weekends, $8 weekdays), which has plenty of eating options and other (natural) attractions.
Go for a Walk – these are really good, urban walks. Get a feel for Melbourne for free 🙂
Royal Botanic Gardens – close to the city (you can walk there) and free. 8,500 plant species, zen lakes and a lot more.
Day Tours – while these aren’t so cheap, it is a way of seeing some Australian countryside if you otherwise wouldn’t be. Winery tours from around $130, Phillip Island tours from around $100 (to see the penguins), or the Great Ocean Road is around $100 as well. They are the main three day tours.