Another is to subsist on bread from any of the ">bake shops in the city. A flossed bread or chicken/hotdog sandwich will just set you back HKD12.
Yet another, and the more common route taken by travellers to Hong Kong, is to make noodle houses your home away from home. You can almost never go wrong with your orders.
I love shrimp wonton noodle soup and absolutely LOVE it made the Chinese way: with whole shrimp (sans head and shell, of course) and chopped fungus inside a dimsum wrapper. And we just love eating at Summit Delicious, located at Hart Avenue, just off Cameron/Carnarvon Road.
the sign to the place at night; there's another noodle house before this one along Hart Avenue but this is the highly recommended one and it's near the corner/end of the avenue, across Mr. Kebab
(Type "Summit Delicious, Hong Kong" in Google Maps and see a picture during day time)
shrimp wonton noodles mean hand-pulled noodles and three pieces of really delicious shrimp wonton, HKD25
beef noodles at HKD28; my husband could never finish an order but keeps ordering it because it's so tasty; my hubby's description is "meat cooked for 3 days" and the bowl is 3/4 full of beef and it's fatty sauce/essence (if you're used to eating beef noodles in Chinese noodle houses in the country, you'll know what I'm talking about); feel free to request extra soup (but rice will cost HKD5)
oyster cake, HKD55, and my BIL wolfed down all of it by himself
beef noodles, takeout
shrimp wonton noodles at top right, takeout
Honestly, I want to return to Hong Kong just to eat at Summit Delicious again! The staff were really friendly too.
Hotels/hostels nearby include (1-5 minutes away):
Hotel Benito (Cameron Road, Hong Kong)
Guangdong Hotel Hong Kong (Prat Avenue)
Park Hotel (Chatham Road, Hong Kong)
Chungking Mansions (Nathan Road)
Mirador Mansions (Nathan Road)
Tai San Guest House (Nathan Road, Hong Kong)
Lee Garden Guest House (Cameron Road, Hong Kong)
Star Guest House (Cameron Road, Hong Kong)
Butterfly on Prat
Kimberley Hotel (Kimberley Road, Hong Kong)