You like the good things in life, but you can’t stand paying for them. You drive a Mercedes, but you spent six months finding one at the best price. You drink Grey Goose, but you buy it from the discount liquor store in the hood.

Good for you. Just because you’ve got money doesn’t mean you have to spend it, and just because you have first-class taste doesn’t mean you have to pay first-class rates.

Here are some ways you can get top-notch travel at rock-bottom prices:

Flying

Some low-fare carriers have first-class options. Most major cities have at least one low-fare carrier. On top of that, some of the hottest vacation spots in the Caribbean and Mexico are serviced by those low-fare carriers. Even major airlines like Delta are rolling out low-fare carriers like Song to compete with JetBlue and the other discount carriers.

The lines between traditional carriers and the low-cost carriers is blurring, and will continue to do so.

Don’t forget about frequent flyer miles, too – at least for the major carriers.. The first-class upgrade to your ticket can be much cheaper when you use miles. You might even be able to get miles from other people.

How to get the best room rate

Hotel rates are on the way back up, a sign that the economy is improving. Still, some destination cities have amazing discounts. The Internet is the place to go for hotel rooms, although Bill Shatner isn’t the go-to guy anymore. You’re better to look at http://www.hotels.com or http://quickbook.com, as those sites get blocks of rooms and them sell them at a discount.

Always check the hotel’s website or call the hotel directly, too, to see if you can get an even better hotel room rate.

Cruise deals

In the past decade, cruise capacity has more than doubled. Because of the growth followed by the slow economy, cruises are now some of the cheapest vacations. Both www.travelocity.com and www.expedia.com advertise cruises, but specialized cruise sites are way better in terms of deals. Check out www.mytravelco.com or www.cruisecomplete.com and see what we’re talking about.

Don’t forget travel insurance

Travel insurance lets you save money in the event that something goes wrong. If you get sick and have to cancel your trip, you can get your money back. It’s also a great way to insure against an airline going out of business or other disasters.too. In fact, travel insurance is one of the best ways to get peace of mind while potentially saving plenty of travel-related time and money.

Photo via Ed Callow [ torquespeak ]