Possible to do Rome on a budget with Teenagers?

Rome has a bigger price difference between places than any other place on planet earth. In the core tourist zone prices can be ridiculous, there must be some sort of mafia control over these. This is somewhat true in all big cities, but in most you pay 30% more outside the Louvre etc, in Rome you can pay 300% more. The cure is to walk 500m and you get pretty much regular Italian prices.

So don't come out of the Colosseum and buy ice creams and drinks from the stand right there, it will cost you €50. Go to an authentic gelateria or local restaurant and pay less than half and get quality that you'll recall when you go home.