It depends how you do it I think.
The last time I went on holiday I went to Spain -
booked the flight four days before, it was about £150 (return). Carried on my luggage.
The accommodation I got once I got there, it was 20 euros a night for a lovely apartment, in a complex with 18 apartments, nice pool, very quiet, adults only.
Food was pretty much the same as what I'd pay in England for the week.
Travel was actually cheaper than what I'd pay in England for the week.
Drinks were cheaper.
Most of the things I love are free - sitting on the beach, exploring, swimming, seeing the sights, going to look at things. The coach transport was amazing there, there was a coach that did a loop of the island which took a few hours, sat on the top at the front, no one else on it, views were amazing!
So all in all it didn't cost too much - maybe £400?