Don’t take it upon yourself to manage the Mexican Holiday alone, do it in groups.
“Austin Pub Crawl” has the best options so far. $10-20 for access to the lowest specials downtown.
Remember: you will not get the best specials available if you do this alone.
The majority of the day, beers will be $1-2 if you join and if you don’t drink beer, tequila is the same price. Stay with those choices to keep money in your pocket.
The theory of the pub-crawl is a group of partiers put on a schedule to make sure that all the good spots are hit. The problem is the schedule is about 12 hours long, so good luck trying to tough it out. It starts at noon and goes till midnight, but really they’ll stretch it till 2 am for the dedicated.
Advice: don’t let alcohol be the only thing you experience on this holiday. Dancing is a big part and it’s always fun to learn something new. Food will be available at more places than usual, but don’t be fooled: bar tenders car a lot less about your burrito meat temperature than their regular bar duties. If you’ve got to stop and refuel, pick a restaurant.
Austin is a very good choice for this holiday, but pace yourself. The more time your there, the more fun you can have.