Quick answer: Marrakech runs about EUR 50 per day mid-range - noticeably less if you eat local and walk. Cheapest window: March–May or October–November (avoid summer heat).
What things actually cost
mint tea in a cafe
1 EUR
tagine at a local restaurant
5 EUR
petit taxi across town
3 EUR
Bahia Palace entry
7 EUR
hammam (local, self-service)
2 EUR
fresh orange juice on Jemaa el-Fnaa
0.50 EUR
Eat well for little
Lamb or chicken tagine at a medina restaurant - slow-cooked with preserved lemon or prunes, 5-8 EUR
Food stalls on Jemaa el-Fnaa at night - grilled skewers, harira soup and snail broth; a full plate runs 4-6 EUR
Msemen (flaky pancake) with honey from a street griddle - the classic breakfast, under 1 EUR
Couscous on Friday - the traditional day for it; family-run places serve big plates for 5-7 EUR
Fresh orange juice on the main square - pressed while you wait, about 0.50 EUR a glass
Money mistakes to avoid
Following anyone who says the way is closed or offers to guide you - it is almost always a hustle ending in a demand for money; navigate with an offline map and walk confidently
Getting in a taxi without agreeing the price first - meters are rarely used; fix the fare before the door closes or insist on the meter
Photographing snake charmers, monkey handlers or performers without agreeing a tip - they will demand payment aggressively afterward
Sightseeing at midday in summer - June to August afternoons exceed 40 C; do sights early morning, retreat to the riad pool, and go out again after 5 pm
Transport without the tourist tax
From Menara Airport a petit taxi to the medina should cost 7-10 EUR if agreed upfront, or take bus 19 for about 3 EUR. The medina itself is walkable only - for trips to Gueliz or Majorelle use petit taxis at 2-4 EUR per ride.