Mexico is excellent value for money. Budget travelers can manage $25-45/day: guesthouses run $10-20, a taco from a street stall costs $0.50-1.50, and local buses (Ado, ETN) between cities are cheap and comfortable ($5-30). Mezcal by the shot in Oaxaca costs $2-5.
Mid-range travelers ($70-110/day) can stay in comfortable boutique hotels, eat at proper restaurants, and take domestic flights to cover long distances (VivaAerobus and Aeromexico are affordable when booked ahead). Tourist beach areas (Tulum, Los Cabos) cost considerably more — expect to pay North American prices at upscale Tulum beach clubs.