The Czech Republic, smack in the middle of Europe, is a great pick for vacations that won't break the bank. While it is expensive to get there from the U.S. (but getting out of North America usually is) it is much less expensive than those in the Eurozone and other more expensive countries like those in Scandinavia.
The Czech Republic Crown is about 19 to $1US. To give some insight into the inexpensive nature of this country, a beer is usually 25 crowns, or less than $1.50. In Germany, that same beer can go for around 4-5 Euro, or $6-7.
While beer is exceptionally cheap in the Czech Republic, most other things are as inexpensive.
So, whether you're going to be in Europe anyway and just need a little break from the ATM, or are looking for places that are more affordable, the Czech Republic is a safe bet. Beyond being inexpensive, the country has rich history and culture that shouldn't be missed.