There are a lot of non-working holidays coming up next week, and despite the recession, people are bound to take advantage of this to get much needed R&R. However, some people have this misconception that such trips have to be that expensive, mainly because they've been staying at business hotels and eating at posh restaurants the entire time. Doing so eats up money for island hopping tours and souvenir item purchases.
A good example would be Boracay. The talipapa market there is a mine of seafood heaven at a good price, but people would rather eat at restaurants who charge at least three times for the same dish (and the serving wouldn't be as much). Even at El Nido, there are a lot of carinderias and small restos one can dine in at the main island, and lots more transient inns to stay in, but people often think they have to stay in the isolated exclusive islands of Miniloc and Lagen.
So consider the cheaper options so you can maximize your vacations. I swear they don't really take away from the vacation (like, do you stay inside your room all day when in Boracay?) and you get a better feel of the local culture too.