When i think about a vacation, Madrid is always one of the places that comes to mind. For a big historical European city it is surprisingly affordable. It also has great museums, parks, architecture, food, shopping...the list goes on!
Madrids Metro system is easy to get around on and not expensive, Though if like me you stay in the center, most of what you want to do and see is close enough to walk to. Not only that but it is a great walking city, fairly flat, well maintained sidewalks (walk early to see locals sweeping in front of their stores...)
Some of my favorite things to do:
Madrids big museums are either free in the evenings or have a free day each week. I can loose track of time in the Prado or Reina Sofia, the Thysen is a great place to get an overview of art history.
Many of Madrid's small museums are free all the time though signage may not be in english.
Tapas are a great way to get a fun and affordable meal (many bars have free tapas with drinks ask around (or better yet get a good guide book)
Churros- try them and dunk them in the chocolate they serve with them!
Don't forget to just get lost in the city a bit, walk outside the tourist zone and get a bite where ever, check out a grocery store (it is different, for example milk and eggs are on the shelfs not in a fringe.) Just see how the locals live!
My favorite Guide book for Madrid is Rick Steve's enough information to have a great visit, but not so much that the best sites get buried. read more