Bali is wonderful, or at least parts of it are, but they now have a volcano issue and those flights are very long and never cheap. Machu Picchu is incredible, but it’s a place you visit for half a day or so, and they actually have their rainy season at the end of the year, so it’s actually not one of the better times to go. Actually, you might consider a trip to Argentina, which is warm that time of year, though rarely scorching. Buenos Aires is a wonderful city that is pretty good value now, and you can also visit the Mendoza wine region and Iguazu Falls and Bariloche, which are all even a bit cheaper than Buenos Aires.
From December through February there are literally no European cities that could qualify as having “great weather,” except for the Canary Islands, which is listed below. So during the winter Europe is all about cultural tourism, and lower hotel prices make it especially appealing for those who like to stretch their travel budgets and avoid crowds at the same time.
If you are looking for an island that is moderately priced in late November I would probably head to Thailand. The rainy season typically ends in the middle of November in Phuket and Ko Samui and the other popular islands, although you might still get a few quick storms in late November. One nice thing is the crowds don’t start coming until mid December so you have a huge selection of hotels at really good prices.
Blisteringly hot in summer, Tokyo is a breeze in the cooler months. Fight the dizzying jet lag and head out for the world's best sushi or ramen, shop in the city's amazing department stores, and visit the parks surrounding the Imperial Palace in the center of the city. Escape the crowds somewhat by heading to Yanaka Ginza, which retains a bit of old Tokyo and has plenty of places to eat and shop. Do make time for a side trip to Hakone, where you can visit a Shinto shrine and see magnificent Mount Fuji on a clear day.
Australia’s capital has been voted the world’s most livable city—for the seven years in a row. If that isn’t reason enough to go, what is? Here's another: the artsy cosmopolitan city promises pleasant temperatures in the high 60s throughout November. Book a room at one of the area's buzziest spots, QT Melbourne, a design-centric boutique in the city’s fashion district.
Since flights to Mexico City from the US and Canada are usually quite cheap this time of year as well, this could be a perfect short cultural holiday. This city has great shopping, dining, and nightlife, and the central historic and tourist districts are far safer than most people would expect. There are ruins just out of town as well, so a bit of everything is available.
Trekking in Nepal during peak season might not sound like the most sensible choice for penny-pinching backpackers. But you can still enjoy the ideal weather without spending a fortune on in-demand hotels and expensive permits if you're happy to swap big-name trails, like Everest Base Camp and the Annapurna Circuit, for quieter treks to Kanchenjunga Base Camp and around the Langtang Valley. Idyllic conditions (dry but not witheringly hot) are also on offer in Rajasthan, one of India’s most vibrant and varied states. Chug between notable, attraction-rich cities like Jaipur, Jodhpur and Udaipur on an atmospheric and wallet-friendly Indian train, snacking on spicy pakoras and sipping sugary chai en route.