Taxi from Faro airport will be about 30 to 40 euros, thought about car hire? local buses are cheap but depends on your arrival time, may have to go to Faro then on to Albufeira, eating out is cheap off the tourist loactions! stay away from main squares and beach side cafes, supermarkets are cheap (ish) if you can find a local Lidl or similar, sardines about 35 cents a tin, bread 1 euro, beer and wine are very cheap, 1 to 2 euro a bottle of wine, 3 to 4 euro for multipack of beer, i was in Lagos area for a few months, have a good time.