There are now many ways to lower your holiday budget and to enjoy a cheap holiday in Thailand. Phuket in particular has a range of hotels, resorts and villas which now provide discounts for longer stays or last minute deals.
Villas often come with a full-time chef, which although at the outset seems to be a little indulgent, in the long run tends to save a lot of money. Instead of spending money on eating out every night, the chef will shop at the local market and buy cheap, fresh produce which is then made into tantalizing Thai dishes. The live-in manager can suggest the best spa promotions and places to take the family which won't be too expensive.
Visiting local markets, temples and places of interest can also be affordable. Hiring a car will allow you to travel independently without being beholden to expensive day tour operators. A good map will provide directions, and a day at one of the many beautiful beaches in Phuket is a delight, and affordable.