Don t assume a "staycation" in your own backyard is your only budget-friendly vacation option this year. In fact, you can take to the high seas and see plenty of sites for a fraction of the regular cost.

Nervous that their 2009 sailings won't fill up, cruise operators are dramatically slashing rates to fill up staterooms, knocking prices as low as $30 per person, per night -- even on sailings during the second half of the year. (The usual benchmark for cruise deals is $100 per person, per night.) Some operators and travel-booking sites are even padding offers with extras like onboard credits and discounts on shore excursions.

Why such desperate measures? Significantly fewer consumers have plunked down deposits thus far during the January-to-March wave season, when most cruises for the calendar year sell out. More travelers are playing wait and see with their financial situation, says Genevieve Brown, a spokeswoman for travel-booking site Travelocity. They re opting to pay in full within 90 days of sailing, instead of committing seven to nine months ahead of time.

Click Here: 5 Deals on Cruises

Another boon for bargain-hunting cruisers: There are more ships on the water these days as cruise lines update their fleets and expand their routes to better compete with one another.

Just be careful not to get swept away by the hype, cautions Stewart Chiron, a cruise broker known as The Cruise Guy. $100 shipboard credit -- whoop-de-do, he says. Focus on cabin prices, and compare cruise lines to make sure you re picking the deal that best fits your budget and vacation style.

Check out our slideshow for five itineraries priced at less than $100 per person, per night (all rates are per person, per night and assume double occupancy):

Baja (Mexico and California)

Short-haul cruises like this route from San Diego to Ensenada, Mexico, tend to be popular with budget-conscious families and younger crowds, says Brown, so cruise lines have cut prices to lure them in. Carnival s so-called "fun ships" rule the route, offering waterslides, spas and casinos on deck and scuba and whale-watching expeditions at Catalina Island. Other activities include shopping tours in Ensenada and cooking classes.

Sample Deals (All rates are per person, and assume double occupancy):

• April 26-30, 4-night Carnival Elation. Prices from $249, or $62 per night.
• May 10-14, 4-night Carnival Elation. Prices from $229, or $57 per night.
• August 30 Sept. 3, 4-night Carnival Elation. Prices from $219, or $55 per night.

Europe

U.S. cruise lines including Royal Caribbean (RCL), Celebrity and Disney (DIS) have all expanded their European itineraries in recent years, leading to some intense competition, says Chiron. Typically, consumers need to book European cruises a year in advance to avoid a 30% jump in prices come January. This year, there was no price increase, he says -- making it the cheapest way to visit summer hotspots like Venice, Barcelona and Cannes.

Sample Deals (All rates are per person, and assume double occupancy):

• Eastern Mediterranean cruise from Venice. May 2-9, 7-night, Royal Caribbean Splendour of the Seas. Prices from $699, or $100 per night.
• European cruise from Barcelona to Rotterdam. May 2-9, 14-night Norwegian Jade. Prices from $1,009, or $72 per night.
• Mediterranean cruise from Rome. June 8-18, 10-night Holland America Line Noordam. Prices from $999, or $100 per night.

Bahamas

If you have the urge to hit much warmer climes, look to cheap winter and spring sailings to the Bahamas. Plenty of ports and high demand in recent years has led to a glut of competing cruise lines -- and lots of deals. The proximity also makes it ideal for short-haul cruising, with three-day getaways to fill with everything from horseback riding on the beach to fishing and shopping.

Sample Deals (All rates are per person, and assume double occupancy):

• Feb. 21-26, 4-night Carnival Fascination (from Jacksonville, Fla.). Prices from $349, or $87 per night.
• March 13-16, 3-night Royal Caribbean Majesty of the Seas (from Miami). Prices from $199, or $66 per night.
• March 28 April 4, 7-Night Norwegian Majesty (from Charleston, S.C.). Prices from $429, or $61 per night.

Trans-Atlantic

Spring and fall repositioning cruises -- when cruise lines move their ships from one itinerary to another-- are usually some of the cheapest long-haul trips out there. The reason: You spend the bulk of your time at sea. This year, they're even cheaper than usual, says Brown. Operators enliven those long days at sea with entertaining ports. Carnival's Rome-to-New-York itinerary, for example, includes several stops throughout Spain, the Canary Islands and Bermuda.

Sample Deals (All rates are per person, and assume double occupancy):

• Ft. Lauderdale, Fla., to Barcelona. April 16-30, 14-night Royal Caribbean Navigator of the Seas. Prices from $549, or $39 per night.
• Miami to London. April 17-28, 14-night Norwegian Jewel. Prices from $399, or $29 per night.
• Rome to New York. Oct. 27 Nov. 12, 16-night Carnival Dream. Prices from $799, or $50 per night.

Caribbean

Like the Bahamas, prices for sailing the Caribbean have been pushed lower as a result of an abundance of ports and competition. Even normally pricey winter sailings are cheaper. Some of the best deals right now are in the Caribbean, says Chiron. I d equate them with fall [hurricane-season] prices. Swap the ski vacation in favor of swimming, snorkeling and sunbathing in the region s nicest weather year-round.

Sample Deals (All rates are per person, and assume double occupancy):

• Western Caribbean from Tampa, Fla. Feb. 1-26, 5-night Royal Caribbean Grandeur of the Seas. Prices from $499, or $100 per night.
• Western Caribbean from Mobile, Ala. March 23-28, 5-night Carnival Holiday. Prices from $399, or $80 per night.
• Southern Caribbean from San Juan, Puerto Rico. Dec. 7-18, 11-night Celebrity Millennium. Prices from $749, or $68 per night.