Thought of a couple more tips. Has anyone mentioned mezes? A meze is a meal (well, half a dozen meals really) where you get small portions of anything up to 20 (or more) Cypriot dishes. You can get fish or meat meze, and prices do vary - look on the boards outside the tavernas for prices. Googlr around for more info on mezes.
I guarantee you won't need lunch that day, or breakfast after - you won't believe how much food comes out. Also, don't be shy about asking for a doggie bag if you can't eat it there and then. Cypriots really don't mind - they actually are pleased that you like their food enough to take away with you. Hey presto - tomorrow's lunch!
Also, unless you're a wine expert (which me and the missus certainly aren't!) don't have a bottle or glass of wine. Have a carafe (or a half carafe) Its cheaper wine, but perefectly drinkable. The Gordon Blue taverna does a very good (and cheap) half carafe - from memory about 3 euros.
If you DO need to get a taxi anywhere (I wouldn't recommend unless you really have to) always agree a price before you get in. Even though by law they should put the meter on - they almost certainly won't.
If you're waiting at the bus stop you'll probably have taxis come up and offer their services. This is serious haggle time. We got a taxi to Paralmni for 5 euros when it would have been at least 10 normally - and it would have been 3 euros on the bus.If someone else is at the bus stop with you - share the cab and split the cost.
On the beach two sunbeds and a brolly will set you back about 7 -8 euros. Take a couple of towels instead (and plenty of suncream). A week of that and you've saved that £50 you've had to pay extra! Buy all toiletries in UK - they can be expensive in Cyprus.
More money saving tips as I think of them.