Cheap eats in Mykonos are not easy to find but there are lots of creperies and plenty of places to buy gyros.  Try Jimmys Gyros where 2 Euros will get you a gyros and you can also splurge and get a gyros plate for about 5 Euros. Another option is to visit one of the little supermarkets dotted all over town.  They usually have a good delicatessen section and some even have fresh fruit and vegetables. If you have transport, the larger supermarkets out of town are cheaper but the local ones in town will do if you can't get to the others. It is also cheaper to buy your water in a six pack at the supermarket (less than 2 Euro) compared to 1 or 2 Euro per bottle at the shops.

 If you are interested in reasonably priced fast food (mexican-american, pizza, souvlaki, sushi,  etc), you can easily find it in the new food mall of Ano Mera (located in the center of Mykonos Island). These are self-served, and you can get some coffee there. If you are in search for an American breakfast, a good burger, and a delicious burrito--check out California Grill. 

Cheap restaurants are harder to come by but Nikos Taverna next to the port is a good option for reasonably priced greek food  Most of the restaurant is outside and on a warm night it is very pleasant. You almost always have to wait for a table and sometimes it can be difficult to catch the attention of a waiter as they run by but the food is good and worth the wait. If it is windy make sure you wear something warm as the wind whistles through the outdoor area making it quite cold on occasions. If you are lucky Petros the pelican will be there trying to steal fish from the outdoor display.

For something more casual, the restaurant on Paradise Beach is a good budget option. They advertise that all their food is organic and they serve from early morning until about midnight. The menu changes daily and is mainly Greek with some pasta options and a large salad section. The most expensive item is the fish platter at 15 Euro but it is large. Food is served cafeteria style and there are plenty of tables in the open air seating area at the back of the beach. This is not 5 star dining but for the budget traveller, it provides a good option. 

Also, consider Agari Beach , where the restuarant is self service cafeteria style and good value.

To avoid expensive lunches at the south beaches take en route a delicious sandwich from the pastry shop SKAROPOULOS! Very good quality sandwiches between 3 and 4 euro and Illy Coffee. Location: after the roundabout direction Ano Mera just opposite the Potron Supermarket.

LGBT persons are generally very welcome in Mykonos Town's and beachfront restaurants and other commercial establishments.  In contrast, the Village of Ano Mera is more conservative and some establishments are not sincerely open to the LGBT community. Check for rainbow stickers or avoid altogether.

Another way to enjoy Mykonos cheaply is to visit the local supermarkets and buy cheeses,salamies,parma ham, smoked turkey and ham,freshly baked bread or rolls,some 2 euro already chilled white wine and some fresh fruit and just find a place to relax under a tree or a secluded  beach and there are many!Happy Holidays