There's a very similar thread that was posted a few months ago in this forum, but here's my general echo of what I wrote there. My boyfriend and I have done two solo Disney trips during our time in college, so that's what I'm basing my opinion around.
First off, value hotels are completely fine. I noticed some people specified Pop Century, but All Star Music and Sports are usually cheaper and I have never had a problem with either of those resorts. Generally, it will probably save around $10 per night if I remember correctly. For us, that was worth it. Of course, you can always opt to stay off-site and book a room via Priceline for much cheaper, but if you're flying, you won't have a car, so that could be an inconvenience to getting around to the parks (most hotels that offer transportation do it very rarely throughout the day). Plus, on-site gets you access to Extra Magic Hours, so there's that to factor in as well. Also, I would book your room via Orbitz. Usually the price is 10-15% off whatever Disney is offering via whatever discount code they throw around at the time. Usually it's just on top of a banner at their homepage. Just keeping checking their website and odds are, a coupon code will become available soon.
For what it's worth, I have never done the dining plan and I probably never will. The dining plan gives an excessive amount of food (even the quick service one). I don't usually eat breakfast, but if I do, it's something small. Lunch or dinner I would usually eat quick service--which, depending on location, the food can be enough to be split between two people or you could order a kid's meal--with the occasional table service (maybe once or twice a trip). Snacks can usually be split and I don't drink much besides coffee or water (which is free if you ask for a cup of water at a counter service restaurant as opposed to buying a bottle). If you eat three meals a day plus a snack and drink a lot of soda, then maybe it'd be worth it. But if you are trying to cut costs, the dining plan is not needed and it's better to just buy food out of pocket whenever you are hungry.
Also, pro-tip. If you are there long enough, it may be wise to take a cab or something to a grocery store or some sort of convenience store and buy some groceries to cut down on what you'd be paying for food in the parks. You can always make sandwiches and bring them with you or buy some milk and cereal for in the morning. One time, I even bought an $8 coffee pot from
Walmart around with some coffee and creamer and made my own coffee at the resort. I would've probably spent way more buying iced coffee on property. Of course, the cost of a taxi and the groceries could be a waste of money depending on how many days you plan to be there.
I'd advise on skipping the park hopper. Odds are you won't need it. One park a day is enough and you can always go to Downtown Disney if you'd like after a day at Animal Kingdom or something like that. Not to mention, exploring the resorts is cool too.
Not sure if Allegiant or Spirit airlines fly out of your area and to Orlando, but those airlines are usually very cheap in comparison to Delta, Jet Blue, etc.
