When it comes to travel, is there such a thing as too cheap?

At what point does cost-cutting backfire when you’re traveling? Seth Kugel, in his piece “The Argument Against Pound-Foolish Travel“, argues that too many travelers focus on getting the best deal at the expense of actually having a good trip. Have you ever cut a corner that you wish you hadn’t? Where’s the line between a good deal and an unnecessary sacrifice?